PGA Tour selects potential US investor ahead of Saudi merger deadline

The PGA Tour’s Policy Board will advance negotiations with a consortium led by Fenway Sports Group as the circuit rushes to complete a deal with the Saudi Arabian sovereign wealth fund.

In a ‘significant update’ to its membership on Sunday, the board confirmed it had narrowed down a list of investors to the Strategic Sports Group, headed by Liverpool FC owners Fenway.

The board – made up of six players and five independent directors – has settled on the group for further discussions over a partnership in the new PGA Tour Enterprises.

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“Yesterday, we unanimously agreed to further negotiate with Strategic Sports Group (SSG), a consortium of U.S.-based professional sports team investors led by Fenway Sports Group,” the memo read.

The news comes as the clock ticks down on the self-imposed December 31 deadline for a full agreement to be reached with the Public Investment Fund (PIF) bankrolling LIV Golf.

“We also anticipate advancing our negotiations with PIF in the weeks to come,” the memo added. “Further, the DP World Tour will continue to be an important part of the process as we build toward PGA TOUR Enterprises.

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“Please know that while we can’t get into more details at this time, we are very confident in an eventual, positive outcome for all players and the PGA Tour as a whole.”

Despite this update, uncertainty still reigns over an alliance that was first announced by the PGA Tour, DP World Tour and the PIF back on June 6.

The parties have been working towards creating a new for-profit company before the end of the year, but it has been acknowledged by the PGA Tour that the deadline could be extended as the details of a groundbreaking deal are thrashed 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.