• Loading stock data...
Friday, November 22, 2024

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

Hosts of Inside the NBA on TNT
exclusive

ESPN Discussing Alt-Cast Ideas for Charles Barkley, Inside the NBA

TNT retains complete creative control of the show when it airs on ESPN.

Rays $1.3B Ballpark Plans Stalled by Bond Delays, Hurricane Fallout

St. Petersburg officials vote to delay bonds for a new ballpark.
Nov 16, 2023; Las Vegas, Nevada, USA; McLaren F1 Team driver Oscar Piastri of Australia (81) during free practice at Las Vegas Strip Circuit.

F1 Welcomes Second Chapter of Polarizing Las Vegas Grand Prix

Both championship battles have yet to be clinched entering the Las Vegas race, which was not the case last year.

Old Rivals, New Stakes: Notre Dame and Army to Clash in Yankee..

The two schools are playing for the first time since 2016.
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Hapless Jets?

0:00

Featured Today

Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up
November 18, 2024

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.
Nov 13, 2024; New York, New York, USA; New York Knicks guard Josh Hart (3) reacts after fouling Chicago Bulls guard Coby White (not pictured) during the second half at Madison Square Garden.
opinion
November 16, 2024

NBA Ratings Rorschach Test: Buy the Dip

Was it the election? Too many threes? Lack of storylines?
November 15, 2024

Executive Decision: When Richard Nixon Named a College Football Champion

In 1969, the 37th president unilaterally named the winner of the season.
Sep 25, 2024; Uncasville, Connecticut, USA; Indiana Fever guard Caitlin Clark (22) reacts during the first half against the Connecticut Sun during game two of the first round of the 2024 WNBA Playoffs at Mohegan Sun Arena.

Caitlin Clark Has Told Unrivaled She Won’t Play in Inaugural Season

Clark has definitively told Unrivaled that she won’t be playing this year.
Oct 16, 2024; New York City, New York, USA; MLB Commissioner Rob Manfred before game three of the NLCS for the 2024 MLB playoffs at Citi Field.
November 20, 2024

Manfred Urges Patience on Rays Ballpark, Eyes MLB Media Shift

The commissioner also sees a new era emerging in the sport’s local media landscape.
Rose Zhang congratulates her teammate Sahith Theegala after making his putt on the 9th green at the Grant Thornton Invitational at Tiburon Golf Club in Naples on Friday, Dec. 8, 2023.
November 20, 2024

TGL Considering Mixed Event, Women’s League Amid LPGA Talks

The new league from Tiger Woods and Rory McIlroy launches in January.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
November 19, 2024

LPGA’s Richest Season Ever Set to Crown a Record-Breaker

The current record is $4,364,994 by Lorena Ochoa in 2007.
Jalen Brunson (left) and Rick Brunson
November 19, 2024

Knicks Say NBA Is Out to Get Them After Latest League Probe

The team accused the league of retaliation Monday.
May 5, 2024; Cleveland, Ohio, USA; Cleveland Cavaliers guard Donovan Mitchell (45) celebrates with guard Darius Garland (10) after Garland hit a three point basket during the second half against the Orlando Magic in game seven of the first round for the 2024 NBA playoffs at Rocket Mortgage FieldHouse.
November 18, 2024

Undefeated Cavs Chase History in NBA Cup Showdown vs. Celtics

Cleveland is 15–0 to start the season.
November 15, 2024

How Taylor Swift’s Tour Is Fueling Blue Jays Owner’s Sports Empire

There have been multiple intersections between the company’s sports assets and the pop icon’s Canadian concerts.