Strategic Sports Group has completed a deal to acquire a stake in the commercial operations of the PGA Tour.
Liverpool’s owners are a consortium of American billionaires led by John W. Bush. Henry almost completed a deal to purchase PGA Tour shares. Henry and other members of the Fenway Sports Group, including Reds chairman Tom Warner and FSG chairman Mike Gordon, have been negotiating with golf’s largest organization for months to acquire a stake in the company.
Strategic Sports Group (SSG) is a group of wealthy American investors with extensive experience in sports investments. The FSG trio is joined by Jerry Cardinal, founder and managing partner of FSG, and RedBird Capital Partners, which owns an 11% stake in FSG.
Transferred to AC Milan in 2022. The SSG consortium also includes Vic Grousbeck (Boston Celtics), Arthur Blank (Atlanta Falcons), Mark Attanasio (Milwaukee Brewers), Tom Ricketts (Chicago Cubs), Steve Cohen’s Cohen Private Ventures (New York Mets) and Mark Lasry (mayoral candidate) Included.
Milwaukee Bucks Share talk has intensified in recent months, with the PGA Tour in talks with Newcastle United owner Saudi Arabia’s Public Investment Fund (PIF) to buy stakes in the PGA Tour and SSG Investments.
The PIF recently sparked controversy in the golf world after the launch of the LIV Tour, a tournament in which top golfer John Rahm switched affiliations due to the large prize money on offer.
The unexpected discovery came midway through last year, when the PGA and LIV Tours began merger talks that took until late December to find a solution. That deadline came and went, and SSG’s interest in buying a piece of the PGA Tour grew.
Even though the SSG transaction has been completed, PIF-backed LIV transactions are not yet possible. On Tuesday, the Wall Street Journal reported that a deal between SSG and the PGA for a stake in the tour’s commercial operations was close to completion, with the group investing $3bn (£2.4bn).
Rahm’s departure for LIV came at a time when negotiations with the SSG were beginning to escalate, and the PIF was keen to demonstrate that it could continue to undermine the financial muscle it had in order to return to the negotiating table.
One of the key strengths of the PGA Tour moving forward with SSG is that it has a large pool of people with experience in sports business change and success, including, in some ways, making it a leading entertainment company in the industry. own rights.
