Where there’s smoke, there’s usually fire — and the world of pro golf now has some confirmation.
In recent weeks, reports have surfaced about new investors showing interest in partnering with the PGA Tour, which earlier this year signed a framework agreement with Saudi Arabia’s Public Investment Fund to pump billions of dollars into professional golf.
One of the companies mentioned was Endeavor, whose CEO Ari Emanuel publicly confirmed that an official bid was submitted on Oct. 5. However, he wouldn’t detail how much money is involved, what size stake of the new PGA Tour Enterprises commercial entity Endeavor’s seeking to acquire, or whether its bid would add to or replace the PIF deal.
But Emanuel did say he thought that there were seven other bidders in the process. Fenway Sports Group and Arctos Sports Partners have been reported as other interested investors — which means at least five other investment entities are trying to partner with the PGA Tour.
“I think we could add to it what we’ve added to all of our sports,” Emanuel said.
Endeavor — a publicly traded company with a market cap of $9.35 billion — just merged its UFC promotion with WWE to form TKO Group Holdings, which is valued at $21 billion. Its stock price currently sits at just under $20, which is close to an all-time low since its IPO in 2021.
The company also owns the Professional Bull Riders traveling competition.