PGA Tour to advance negotiations with PIF, group of outside investors

Field Level Media|published: Sun 10th December, 17:07 2023

Aug 22, 2023; Atlanta, Georgia, USA; PGA Tour Commissioner Jay Monahan addresses the media during a press conference in the Clubhouse Ballroom at East Lake Golf Club prior to Thursday s start of the TOUR Championship golf tournament. credits: John David Mercer-USA TODAY Sports

The PGA Tour policy board said in a memo Sunday that it will continue negotiations with Saudi Arabia's Public Investment Fund along with a "consortium of U.S.-based professional sports team investors."

The consortium, called Strategic Sports Group, is led by Fenway Sports Group, which previously confirmed its interest in investing in the tour's new for-profit arm, PGA Tour Enterprises.

Fenway Sports Group owns Major League Baseball's Boston Red Sox, the National Hockey League's Pittsburgh Penguins and the English Premier League's Liverpool FC.

Also part of Strategic Sports Group are Arthur Blank, owner of the Atlanta Falcons; Mark Attansio, owner of the Milwaukee Brewers; and Cohen Private Ventures, the LLC of New York Mets owner Steve Cohen.

"We also anticipate advancing our negotiations with PIF in the weeks to come," the tour's memo said. "Further, the DP World Tour will continue to be an important part of the process as we build toward PGA Tour Enterprises.

"Please know that while we can't get into more details at this time, we are very confident in an eventual, positive outcome for all players and the PGA Tour as a whole."

As part of the framework agreement revealed in June, the PGA Tour, the DP World Tour and the PIF have a deadline of Dec. 31 to finalize a deal.

—Field Level Media