• Loading stock data...
Saturday, February 24, 2024
Rates for the 2024 Best Venue Awards increase this Sunday at 11:59 p.m. ET

PGA Tour Rejects Endeavor’s Investment Bid

  • Endeavor had been exploring a potential investment bid in the PGA Tour.
  • Saudi Arabia's Public Investment fund continues to negotiate with the PGA Tour.
John David Mercer-USA TODAY Sports

A major domino in the ongoing efforts to determine the future of professional golf has fallen.

One of the most high-profile bidders looking to potentially challenge Saudi Arabia’s Public Investment Fund as a significant financial partner for the PGA Tour is no longer in the running.

Endeavor’s offer to invest in the PGA Tour has been turned down. 

“We’re not going to be an investor at any level,” Endeavor’s president and chief operating officer Mark Shapiro told Sportico. The PGA Tour confirmed his statement but wouldn’t comment further.

With the PIF seeking to invest at least $1 billion in a new company called PGA Tour Enterprises, several U.S.-based entities have recently emerged as potential alternative investors. Endeavor was among the list — believed to be at least eight companies deep — that also included Fenway Sports Group and Artcos Sports Partners.

Shapiro said Endeavor was looking to lead a group that could acquire a 10% stake in PGA Tour Enterprises. He didn’t say how much that stake would be valued at or how much Endeavor was willing to spend. An interesting wrinkle is that the investment would have come through the newly-formed TKO Holdings, which was created out of the $21 billion merger of UFC and WWE.

Beyond the investment, Endeavor — which already works with the PGA Tour for some commercial sales and tournament management — was hoping to expand that work and have the PGA Tour pay it $25 million per year.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Making Sense of What More CFP Expansion Would Mean

Leaders of the CFP discussed the potential for a 14- and even 16-team Playoff.

MLB Uniform Furor: Lighter, More Flexible … and See-Through

See-through uniform pants create a social media stir, extending blowback on the new design.

‘Gotta Get in First’: For LIV Golfers, a New Path to the Green Jacket

Augusta National extended special invitations to three international golfers.

Where Are the A’s Playing Next Year? Let’s Weigh the Options

Highly anticipated decision on MLB team’s temporary home could arrive within weeks.
podcast thumbnail mobile
Front Office Sports Today

How the Negro Leagues Are Staying in the Game

0:00
0:00

Featured Today

Sep 24, 2023; Oakland, California, USA; A general view of the Oakland Athletics dugout after the game against the Detroit Tigers at Oakland-Alameda County Coliseum.

Murky Future: Everything You Need to Know About the A’s Move to Las Vegas

Breaking down one of the most drawn-out, multifaceted sagas in sports.
February 18, 2024

Sabrina-Steph Wasn’t the ‘Battle of the Sexes’—But It Was Part of the Bigger War

The competition could play a factor in increasing the WNBA’s media value.
NASCAR Cup Series driver Bubba Wallace (23), in a Star Wars rebel alliance X-wing fighter pilot-inspired race suit, motions to the crowd to get louder during the driver introductions for the Cup Series Championship race at Phoenix Raceway in Avondale on Nov. 5, 2023.
February 17, 2024

Celebrity Owners, International Ambitions, and $7B Media Deals: Welcome to the New NASCAR

NASCAR boldly keeps pace with the increasingly competitive sports and entertainment world.
February 16, 2024

Wilson Introduced an Airless Basketball for $2,500. We Had Questions

The black, 3D-printed ball appeared in last year’s Slam Dunk Contest.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Finance Manager
FanDuel
New York, NY
Senior Technical Artist - Sports Technology
EA Sports
Orlando, FL
Assistant Manager, Affiliate Operations
Adidas
Portland, OR
NFL salary cap

NFL Salary Cap Sees Historic Spike Ahead of 2024 Season

Each franchise was allotted $255.4M, which is a $30M increase for each team.
MLB Arizona
February 22, 2024

MLB Seeks Minimum Wage Exemption in Arizona

The system is for minor league players due to a previously agreed-on labor agreement.
February 23, 2024

Despite Nike’s Efforts, MLB Uniform Controversy Isn’t Looking Good

Manufacturer touts product benefits but ignores complaints of see-through fabric.
Sponsored

Live Sports Are Now High-Tech Experiences

Oracle is leading the technology revolution happening in stadiums across the world.
February 21, 2024

Messi Returns to MLS With the Weight of the League on His Shoulders

Inter Miami kicks off the MLS season against Real Salt Lake.
February 20, 2024

Pundits Bashed a 397-Point NBA All-Star Game—But Fans Still Watched

Silver struggles to conceal his frustration with the game’s lack of competitiveness.
MLS refs
February 20, 2024

The MLS Is Starting Its Season With Replacement Refs—Here’s Why

Union refs wanted a better deal, especially with traveling and scheduling.
February 19, 2024

The Great Outdoors: NHL Sets Attendance Records With MetLife Stadium Series Games

There’s no evidence of waning enthusiasm for the league’s non-arena outings.