• Loading stock data...
Saturday, November 2, 2024
The Best Employers in Sports survey is open through Nov. 6 Learn More

PGA Tour Reportedly Narrows Field To Final Five Investment Bidders

  • Golf property now looking at quintet of financial heavyweights.
  • Search for investment partners continues as deal with Saudi Arabia’s PIF is uncertain.
John David Mercer-USA TODAY Sports

The PGA Tour’s ongoing search for investment partners has reportedly winnowed to a small group of heavyweight candidates.

Just days after the PGA Tour turned down a potential investment from Endeavor and after more than a dozen initial suitors sought to strike a deal, Golfweek said the property is now focused on five groups:

Those suitors include:

• Fenway Sports Group, parent group of the Boston Red Sox, Pittsburgh Penguins, Liverpool FC, and most recently, a franchise in the new TGL indoor golf league.

• Acorn Growth Company, an Oklahoma-based private equity firm.

• Liberty Strategic Capital, a firm led by Steven Mnuchin, U.S. Secretary of the Treasury during the Trump Administration

• Eldridge Industries, led by Chelsea owner, Los Angeles Dodgers part-owner, and key Vivid Seats backer Todd Boehly

• The Friends of Golf Group, a collection of financial titans and Wall Street veterans with a shared love of golf.

Lofty Stature

All told, the group of possible partners represent some of the leading figures in U.S. finance. That list of potential investors has emerged as LIV Golf’s backer — Saudi Arabia Public Investment fund — is seeking to invest at least $1 billion in a new, for-profit company called PGA Tour Enterprises.

But the discussions with these other investors are ongoing as the partnership between the PGA Tour and the Saudi PIF is on rocky ground

Golf journalist Alan Shipnuck, meanwhile, reported that FSG “put in a monster bid to usurp the PIF.”

The PGA Tour’s board of directors is due to meet on Nov. 12, and its possible further movement on an investment selection could arrive then.

Should the PGA Tour complete a deal with one of these entities, it would likely reignite the bitter rivalry with LIV Golf that shook the sport to its core. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.

Could Amazon Make Black Friday a Legitimate Sports Holiday?

Prime made waves by putting an NFL game on Black Friday. The NBA is on the way.

World Series Delivers 7-Year Ratings Record, Marking MLB’s Big Comeback

Viewership of the five-game win by the Dodgers soared by 74% over last year.

Everyone Wants In on the WNBA Expansion Gold Rush

There are 10 to 12 cities interested in a WNBA expansion team.
podcast thumbnail mobile
Front Office Sports Today

First-Ever 12-Team CFP Takes Shape

0:00

Featured Today

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.
Oct 19, 2024; Gainesville, Florida, USA; Florida Gators quarterback DJ Lagway (2) shakes hands while entering the locker room after a game against the Kentucky Wildcats at Ben Hill Griffin Stadium.
October 28, 2024

NIL Director Is the Trendy New Job in College Sports. But the Role Is Chaos

Athletic departments nationwide are hiring for what’s become their most important position.
FuboTV signage
opinion
October 26, 2024

Fubo’s Fight Against Streaming Giants Feels Futile

Fubo notched a legal win, but subs and stock still slump.
October 25, 2024

Inside The Wall at L.A. Clippers’ New $2B Home

FOS went inside the “contagious” energy at the L.A. Clippers’ Intuit Dome.
Oct 18, 2024; Minneapolis, Minnesota, USA; Minnesota Lynx forward Napheesa Collier (24) works around New York Liberty forward Breanna Stewart (30) during the first half of game four of the 2024 WNBA Finals at Target Center.

Unrivaled Expands While Keeping Seat Warm for Caitlin Clark

The women’s basketball league is adding six roster spots to bring the total to 36.
Philadelphia Eagles quarterback Jalen Hurts (1) reacts to scoring a touchdown with Philadelphia Eagles running back Saquon Barkley (26) in the fourth quarter of the NFL game against the Cincinnati Bengals at Paycor Stadium in Cincinnati on Sunday, Oct. 27, 2024.
October 31, 2024

Here’s Every NFL Team Linked to Private Equity Investments

The NFL gave the O.K. in August for PE firms to buy up to 10% of a franchise.
Oct 31, 2024; New York, New York, USA; Los Angeles Dodgers president and CEO Stan Kasten celebrates with the Commissioner’s Trophy after the Los Angeles Dodgers beat the New York Yankees in game four to win the 2024 MLB World Series at Yankee Stadium.
October 31, 2024

Dodgers Winning Formula Blends Underdog Spirit With Big Dollars

Team officials point to an “opportunistic” mindset as it overcame numerous injuries and setbacks.
Sponsored

World Series Delivers High-Demand Marquee Matchup

The hype around the World Series matchup drove ticket prices to record levels—but the Dodgers’ dominance quickly quieted the fervor.
October 30, 2024

Money Well Spent: Dodgers Top Yankees in World Series

The financially robust MLB club wins its first full-season league championship since 1988.
Nick Dunlap of Tuscaloosa, Ala., tees off on the 18th during the third round of the Sanderson Farms Championship at the Country Club of Jackson in Jackson, Miss., Saturday, Oct. 5, 2024.
October 30, 2024

PGA Tour Could Get More Exclusive Under Proposed Rule Changes

This is the latest move to consolidate more prize money and rankings points.
October 30, 2024

Yankees Stay Alive, but N.Y. Ticket Prices One-Third of L.A. Rates

Prices remain way down for the final World Series game at Yankee Stadium.
October 30, 2024

Ejected Yankees Fans Barred From Game 5 of World Series

The fans won’t be back after wrenching a ball from Betts.