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With each day that passes, the PGA Tour gets closer to its self-imposed Dec. 31 deadline to complete a deal with Saudi Arabia’s Public Investment Fund — which is looking to pump at least $1 billion into golf’s top circuit.
But as the negotiations drag on, one of the top reported competitors to the PIF has publicly acknowledged its desire to work with the PGA Tour. “We confirm that we’ve had conversations,” Fenway Sports Group chairman Tom Werner told CNBC.
Werner wouldn’t provide any further details, but his words give more credence to a report that emerged over the weekend saying FSG was one of five remaining bidding groups still talking with the PGA Tour. FSG is the second bidder to confirm its interest, along with Endeavor, which is no longer under consideration.
A key element of FSG’s proposal is that it’s in partnership with fellow billionaire sports owners, the New York Mets’ Steve Cohen and Atlanta Falcons’ Arthur Blank. FSG, Cohen, and Blank are also all three team owners in the new TGL virtual golf league, which was co-founded by Tiger Woods and Rory McIlroy and has a partnership with the PGA Tour.
While reports have indicated that FSG and other interest investors could replace the PIF’s involvement, it’s also possible that any new group would simply be in addition to the PIF — something for which McIlroy sees the benefits. “When this is all said and done, I sincerely hope the PIF are involved and we can bring the game of golf back together,” he said.
Any deal not involving the PIF would likely guarantee further disruption from its LIV Golf league, while a deal in conjunction with the PIF would give the PGA Tour at least some say in LIV’s future.
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