Add Arctos Sports Partners to the list of U.S.-based investors reportedly trying to partner with the PGA Tour and potentially replace Saudi Arabia’s Public Investment Fund, which has a framework agreement to pump at least $1 billion into professional golf’s top circuit.
According to Forbes, Arctos — which has stakes in more than 20 sports teams across the NBA, MLB, NHL, and soccer — is showing interest in the PGA Tour. This follows earlier reports that Endeavor and Fenway Sports Group were among the companies looking to invest in the Tour.
Last week, the PGA Tour confirmed that PIF negotiations had “resulted in unsolicited interest from other investors,” which could potentially be a move to quell politicians’ concerns.
Saudi Deal in Doubt?
The PGA Tour says its focus remains on completing a definitive agreement with the PIF and DP World Tour, but the questions raised by the reports of new investment interest cannot be understated.
If any grouping of investors can offer similar financial backing as the Saudis, it would be fair to speculate if the PGA Tour could change course and choose new partners that would theoretically be less controversial.
However, any deal not involving the PIF could make it much more likely that LIV Golf will remain intact and continue to disrupt the pro golf landscape. A key portion of the PIF deal has been the perceived ability of the PGA Tour to largely control LIV’s future.