Report: Fenway Sports Group Puts in ‘Monster’ Financial Offer to PGA Tour

The Blue Monster at Doral was part of the PGA Tour for many years. Soon, golf fans might associate the Green Monster with the tour.

Golf journalist Alan Shipnuck reports that Fenway Sports Group, the company that owns baseball’s Boston Red Sox among other sports properties, has put in a “monster bid” to provide the PGA Tour with a cash infusion—all while the tour negotiates with the DP World Tour and Saudi Arabia’s Public Investment Fund (PIF) to complete the framework agreement that was signed in early June.

From talking to folks on Wall St. and in Silicon Valley who are close to the deal, the framework agreement is falling apart. Fenway Sports Group has put in a monster bid to usurp the PIF. It looks increasingly likely we go back to LIV vs. the Tour. https://t.co/jfAvBO4B9y

— Alan Shipnuck (@AlanShipnuck) November 2, 2023

The PGA Tour has until Dec. 31 to finalize an agreement with the PIF and DPWT, but reports are flying from all over the place that it’s unlikely to be completed by that date—although an extension is possible if the sides are close.

In a memo to players that was sent last month, the PGA Tour hinted at seeking outside investors to help reach their goals for 2024 and the future if they are unable to reach an agreement from the PIF that would secure the necessary funding.

Last week, sports agency Endeavor, which owns the UFC and WWE, said that its offer to the PGA Tour was turned down.

In addition to the Red Sox, Fenway Sports Group owns Liverpool of the Premier League, the NHL’s Pittsburgh Penguins, a NASCAR team, and a franchise in the TGL Golf League, which will begin in January. It was announced earlier this week that Rory McIlroy will captain the Boston Common team and be joined by Keegan Bradley, Adam Scott, and Tyrrell Hatton.

With the framework agreement appearing to be in jeopardy, it leaves LIV Golf in a bit of a lurch going into next season. LIV CEO Greg Norman appeared for the first time since the June 6 announcement at their Team Championship event at Doral two weeks ago. He said that it’s “business as usual” for LIV as they prepare for the 2024 season and beyond.

Cover Image via Bleacher Report