The PGA Tour is "close to finalizing a historic investment" from U.S. consortium Strategic Sports Group , with the group set for an initial investment of about $3B, according to sources. There will also be "an additional tranche" of funds from the Saudi Public Investment Fund. The deal could value PGA Tour Enterprises at $12B. The deal "may not initially include" the Saudi-backed LIV Golf, though "any potential investment and valuation could still change." The deal has "faced delays" over how much control PGA Tour players would have within the new league, broadcast and sponsorship contracts and the role of the PIF ( BLOOMBERG NEWS, 1/29 ).
This first group of investors into the PGA Tour "is perhaps most notable for the body it doesn’t include" -- the PIF. But what SSG offers the PGA Tour "goes beyond just billions of dollars," according to sources. Many of the consortium’s key investors "have experience running successful sports businesses" and "could help the PGA Tour reform its business operations to increase profitability and make even more money for the players" ( WALL STREET JOURNAL, 1/29 ).
