Sources: PGA Tour, SSG close to investment deal

A multi-billion-dollar deal between Strategic Sports Group and the PGA Tour "is imminent," and the Tour is "still hoping to reach a similar agreement" with Saudi Arabia's PIF, according to sources. The agreement with SSG, a consortium of U.S. team owners , would "infuse more than" $3B into a new for-profit entity, PGA Tour Enterprises, the sources said. The PGA Tour is also "continuing its talks with officials" from the PIF. If a deal is reached with both SSG and the PIF, more than $7B "might be infused into PGA Tour Enterprises," which would combine commercial assets of the PGA Tour, PIF and DP World Tour. A deal with SSG "might be announced before the end of the year." Under the terms of the agreements, the PGA Tour "would retain control of the new for-profit entity," while SSG and the PIF "would be minority owners." PGA Tour Commissioner Jay Monahan and PIF Gov. Yasir Al-Rumayyan are "scheduled to meet next week, after previously scheduled meetings were postponed" ( ESPN.com, 12/15 ).