PGA Tour strikes $3 billion deal with Fenway-led investment group. Players to get equity ownership

2 min read

3 months ago Market News - RSS Feed

The Associated Press

Doug Ferguson

Published Jan 31, 2024 • 4 minute read

Patrick Cantlay holds up the ball after finishing the first round on the North Course at Torrey Pines, at the Farmers Insurance Open golf tournament Wednesday, Jan. 24, 2024, in San Diego. Photo by Denis Poroy /THE ASSOCIATED PRESS

PEBBLE BEACH, Calif. (AP) — The PGA Tour is getting a $3 billion investment from Strategic Sports Group in a deal that would give players access to more than $1.5 billion as equity owners in the new PGA Tour Enterprises.

The launching of PGA Tour Enterprises, with SSG as a minority partner, comes eight months after the PGA Tour signed a framework agreement with the Saudi backers of LIV Golf for a commercial venture, and ultimately led to private equity groups wanting to join.

Advertisement 2

The Associated Press

2024-01-31 09:56:28

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator

Read more from original source here…

Tags: Business News