PGA Tour Set to Announce MASSIVE New $3bn Investment Partner

The PGA Tour is set to announce a massive new investment partner in Strategic Sports Group (SSG), which is led by John Henry, the owner of Liverpool Football Club and the Boston Red Sox.

The Tour has reportedly come to an agreement with Strategic Sports Group on a $3 billion injection that would support its commercial business, according to several sources, including John Lewis and Financial Times.

The agreement and sum was approved overnight, according to two sources who spoke with FT.

An agreement between the @pgatour and The Strategic Sports Group is expected to be announced on Wednesday.

— Todd Lewis (@ToddLewisGC) January 31, 2024

The deal will value the entity at roughly $12 billion, adding additional stake in what is set to be the latest chapter of an ongoing struggle and conflict between the PGA Tour and LIV Golf. The two golf leagues are set to merge soon, but talks between the two have been proceeding for months. 

An initial deadline was set for the end of 2023, but was eventually extended to mid-April.

There is also said to be an equity participation program for PGA Tour players, which will reward those who remained loyal to it as LIV swept away several of the world’s top players with massive signing bonuses and financial agreements.

The deal is encouraging for the previously-mentioned talks between the Tour and LIV, as the deal with Strategic Sports Group sets the stage for an eventual deal with the Saudi Public Investment Fund (PIF), which has $700 billion at its disposal.

The PGA Tour still intends to work out a deal with the PIF, sources said in the report.

The deal between the SSG and the PGA Tour is set to be announced today.

Cover Image via Golf Magazine