PGA Tour Moves Toward ‘Imminent’ Deal with Sports Team Owners

The PGA Tour is moving quickly toward an “imminent” deal with Strategic Sports Group, a consortium of billionaire team owners that would infuse $3 billion into a new for-profit entity known as PGA Tour Enterprises.

The deal is similar to that of what the PGA Tour is also hoping to land with Saudi Arabia’s Public Investment Fund (PIF), which has given LIV Golf a near limitless amount of money to spend on players, taking the air out of the Tour’s proverbial tires over the past two years.

ESPN is reporting that the PGA Tour and Strategic Sports Group, which includes the team owners of the Boston Red Sox, Atlanta Falcons, and Boston Celtics, are close to a deal, citing sources familiar with the matter.

The PGA Tour is closing in on a deal with a group of U.S. sports team owners, per @ESPN, that would infuse more than $3 billion into a new for-profit entity — PGA Tour Enterprises.

The tour is still hoping to reach a similar deal with Saudi Arabia’s Public Investment Fund. pic.twitter.com/JxEBMJzDNO

— Front Office Sports (@FOS) December 15, 2023

The talks are just one part of the PGA Tour’s goal to become more financially stable, as it is also working on a deal with the PIF, which would push an additional $4 billion into the Tour’s new for-profit entity.

It would also combine the PGA Tour with the DP World Tour and the PIF. It could have greater implications involving players, as well. Those who have decided to leave the Tour for LIV and a greater payday may ultimately get to regain their PGA Tour Membership.

There is already a framework agreement that the PGA Tour and PIF set in place in June, but it is set to expire on December 31. However, an extension is likely to occur, especially if there is significant progress being made.

The PGA Tour will be more likely to accelerate the negotiations now that Jon Rahm, the reigning Masters Champion and a Top Three-ranked golfer defected to LIV.

BREAKING: Jon Rahm Leaves the PGA Tour to Join LIV Golf

Making a deal would help cool off a lot of the tensions between the two, and it could help the Tour stop the bleeding caused by players leaving for LIV, a federal antitrust lawsuit, and increased costs coming from the elevated events that were launched to encourage players to stay.

Cover Image via PGA Tour