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Saturday, March 2, 2024

PGA Tour Advances with High-Profile Investor Group as Deadline Nears

  • The PGA Tour is moving forward with a major investment group of sports owners.
  • Negotiations with Saudi Arabia's Public Investment Fund are set to continue as well.
John David Mercer-USA TODAY Sports

The PGA Tour has lost its best player yet to LIV Golf, but the circuit says it’s getting closer to picking financial partners to help shape the sport’s future landscape.

Several days after Jon Rahm officially made the decision to accept what many believe is a $500 million-plus offer to join LIV, the PGA Tour said negotiations with the financial backers of its biggest rival are set to pick up — and that another group of well-known sports investors are closing in on a potential deal with the PGA Tour.

After originally receiving as many as eight bids from potential investors to either partner alongside Saudi Arabia’s Public Investment Fund, or even replace it, the PGA Tour is now down to one alternative option, in addition to the PIF.

High-Profile Lineup

The PGA Tour will advance its discussions with Strategic Sports Group, a consortium of investors that includes:

  • Milwaukee Brewers owner Mark Attanasio
  • Atlanta Falcons owner Arthur Blank
  • RedBird Capital Partners founder Gerry Cardinale
  • New York Mets owner Steve Cohen 
  • Boston Red Sox parent company Fenway Sports Group
  • Boston Celtics owner Wyc Grousbeck
  • Former Milwaukee Bucks co-owner Marc Lasry
  • Chicago Cubs chairman Tom Ricketts

A Dec. 31 deadline looms over the PGA Tour’s negotiations with the PIF, although that could be extended. PGA Tour commissioner Jay Monahan recently confirmed it was likely that an additional investor would ultimately accompany any partnership with the PIF.

Editor’s note: RedBird IMI is an investor in Front Office Sports.

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