PGA Tour announces landmark $3bn deal

The PGA Tour has finalised a major investment deal with a consortium of US investors that will allow players to become equity holders in a new commercial entity. 

Strategic Sports Group (SSG), led by Liverpool FC owners Fenway Sports Group, will infuse up to $3billion into the US circuit and become a minority shareholder in the organisation’s new for-profit entity called PGA Tour Enterprises.

Meanwhile, the Tour claims that the agreement with SSG will pave the way for the Saudi Public Investment Fund (PIF) bankrolling the breakaway LIV Golf series to become co-investors in the future, pending regulatory approval.

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The rival LIV league will continue operating as planned whilst those negotiations continue.

Jay Monahan, who has come under stinging criticism for his role as PGA Tour commissioner, will continue as the chief executive of PGA Tour Enterprises.

The landmark deal includes an equity share programme that is set to reward players who have stayed loyal to the circuit and rejected LIV’s advances.

“”In a first-of-its-kind program, nearly 200 PGA Tour members will have the opportunity to become equity holders in this new company,” a PGA Tour statement read.

“PGA Tour Enterprises is also considering participation by future PGA Tour players that would allow them to benefit from the business’ commercial growth. Under this program, players would collectively access over $1.5billion in equity in PGA Tour Enterprises.

“These grants — which vest over time — will be based on career accomplishments, recent achievements, future participation and services and PGA Tour membership status, and grants are only available to qualified PGA Tour players.”

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In his memo to PGA Tour players, Monahan said: “Today marks an important moment for the PGA Tour and fans of golf across the world. By making PGA Tour members owners of their league, we strengthen the collective investment of our players in the success of the PGA Tour.

“Fans win when we all work to deliver the best in sports entertainment and return the focus to the incredible – and unmatched – competitive atmosphere created by our players, tournaments and partners.

“And partnering with SSG – a group with extensive experience and investment across sports, media and entertainment – will enhance our organization’s ability to make the sport more rewarding for players, tournaments, fans and partners.”

PGA Tour players were invited to a player call on Wednesday to clarify what the SSG deal means to them, but there is still plenty of uncertainty surrounding the landscape of the elite game, while PIF negoitations remain unresolved.

“As expected… there wasn’t a ton from the player call that explained it more than the press release,” PGA Tour player Michael Kim revealed on X.It was an introductory call. SSG are investors to the pgatour. Players are equity holders.

“They will use the money to invest more into the pgatour and hopefully the fans will have a better experience from it. Everybody on the call seemed genuinely excited. The PIF negotiations are still being worked out.”

Ben Parsons joined bunkered as a Content Producer in 2023 and is the man to come to for all of the latest news, across both the professional and amateur games. Formerly of The Mirror and Press Association, he is a member at Halifax Golf Club and is a long-suffering fan of both Manchester United and the Wales rugby team.