On Wednesday, the PGA Tour and Strategic Sports Group announced PGA Tour Enterprises, a new program that transforms players into equity holders. SSG is made up of billionaire sports team owners, including Fenway Sports Group (Boston Red Sox, Liverpool).
Of the $3 billion investment, $1.5 billion will be given to a pool of nearly 200 players, with the highly-ranked players getting more. SSG is on board with the Tour’s negotiations with Saudi Arabia’s Public Investment Fund, but there will be regulatory issues when it’s time to make a deal.
As you’d expect, this news quickly made its way around social media as the landscape of professional golf continues to change.
Here are some reactions to the deal between the Tour and SSG.
PGA Tour commissioner Jay Monahan talks during the singles match play of the Presidents Cup golf tournament at Quail Hollow Club. Mandatory Credit: Peter Casey-USA TODAY Sports
“Today marks an important moment for the PGA Tour and fans of golf across the world. By making PGA Tour members owners of their league, we strengthen the collective investment of our players in the success of the PGA Tour. Fans win when we all work to deliver the best in sports entertainment and return the focus to the incredible – and unmatched – competitive atmosphere created by our players, tournaments and partners. And partnering with SSG – a group with extensive experience and investment across sports, media and entertainment – will enhance our organization’s ability to make the sport more rewarding for players, tournaments, fans and partners.”
Tiger Woods reacts after his son, Charlie Woods, chips in for a birdie on the ninth green during the final round of the 2023 PNC Championship at the Ritz-Carlton Golf Club in Orlando. (Photo by Mike Ehrmann/Getty Images)
“We were proud to vote in unanimous support of this historic partnership between PGA Tour Enterprises and SSG. It was incredibly important for us to create opportunities for the players of today and in the future to be more invested in their organization, both financially and strategically. This not only further strengthens the TOUR from a business perspective, but it also encourages the players to be fully invested in continuing to deliver – and further enhance – the best in golf to our fans. We are looking forward to this next chapter and an even brighter future.”
Boston Red Sox owner John…
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