PGA Tour advances deal talks with investors including Fenway Sports Group

  • Golf
  • Monday, 11 Dec 2023

FILE PHOTO: A view shows the logo of PGA Tour during the Canadian Open’s Championship Pro-Am after news was released of a new partnership between the PGA Tour and Saudi-backed LIV Golf circuit, at Oakdale Golf and Country Club in Toronto, Ontario, Canada June 7, 2023. REUTERS/Nick Lachance/File Photo

(Reuters) - The PGA Tour said on Sunday that it has unanimously decided to advance discussions with Strategic Sports Group (SSG), a consortium of U.S.-based sports team investors that includes Fenway Sports Group.

The PGA Tour Policy Board selected SSG to further negotiate with, even as talks with the Saudi Arabia's Public Investment Fund (PIF) continue to progress, according to a statement posted to PGA's website.

"Further, the DP World Tour will continue to be an important part of the process as we build toward PGA TOUR Enterprises." PGA said.

Fenway Sports Group are the owners of Major League Baseball's Boston Red Sox, as well as Premier League club Liverpool. The consortium also includes investment firm Cohen Private Ventures, New York Mets owner Steve Cohen's family office and private equity firm HighPost Capital.

Reuters reported in September that Fenway Sports Group and Endeavor Group were interested in investing in the PGA Tour and any potential transaction would rival PGA's deal with the PIF.

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Mark Porter and Diane Craft)

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