The PGA Tour is on the brink of a major transformation as it eyes a $3 billion deal with a group of high-profile investors through the Strategic Sports Group (SSG).
Notable members in the group include Steve Cohen, owner of the New York Mets, John Henry, owner of the Boston Red Sox and Liverpool, and Arthur Blank, cofounder of Home Depot and owner of the Atlanta Falcons.
The new deal aims to inject cash and stability into the PGA Tour after the turmoil caused by Saudi-backed LIV Golf’s lucrative offers to star players.
The revamped structure excludes backing from Saudi Arabia’s Public Investment Fund, a highly criticized move in the past.
The deadline for a definitive agreement has been extended into 2024, with unresolved issues including antitrust concerns and the eligibility of players who joined LIV Golf.