The future of professional golf remains uncertain, but according to a report, answers could be around the corner.
The Strategic Sports Group (SSG), an outside investment group headlined by Fenway Sports Group and comprised of several high-level U.S.-based sports owners, may begin its investment in the PGA Tour as early as next week, according to a Sportico report.
Back on June 6, 2023, the Tour announced a framework agreement with the DP World Tour and Saudi Arabia’s Public Investment Fund to create a for-profit golf entity known as PGA Tour Enterprises. Four months later, the PGA Tour’s policy board announced it had advanced discussions with the SSG and that it had not shut the door on the PIF.
ESPN previously reported anywhere from $3 billion to $7 billion may be in play, but Sportico claims the total money for the new entity will be less than the $3 billion figure. According to Sportico, the SSG investment will cover the Tour’s domestic rights. The PGA Tour has yet to respond to Golfweek for comment. A Tour representative told Sportico the information it reported was “incorrect” but did not elaborate further.
One could argue that bringing in outside investors is a way to make the deal more palatable given the U.S. government’s various questions. On the flip side, such a move might be seen as a way for the Tour to have its cake and eat it, too, by pushing the Saudis out after ending the litigation with the framework agreement. The former seems more realistic and would be a step towards reuniting the game, while the latter would be another pivot from the Tour that would only lead to more battles with LIV.
This year was supposed to usher in a new era of professional golf following the last two years that were chock-full of uncertainty. While plenty of questions remain, some answers may be near.