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The future of professional golf remains uncertain, but one report says the answer could be right around the corner.
Strategic Sports Group (SSG), an external investment group made up of several high-level U.S.-based sports owners led by Fenway Sports Group, is expected to invest as early as next week, Sportico reports. He also said he may start investing in the PGA Tour.
Back on June 6, 2023, the Tour announced a framework agreement with the DP World Tour and Saudi Arabia’s Public Investment Fund to establish a for-profit golf entity known as PGA Tour Enterprises. Four months later, the PGA Tour’s policy committee announced that it was proceeding with discussions with SSG and was not closing the door on PIF.
ESPN previously reported that between $3 billion and $7 billion could be involved, but Sportico claims the total value of the new company will be less than $3 billion. According to Sportico, SSG’s investment will cover the tour’s domestic rights. The PGA Tour has not yet responded. golf week For comments. A tour representative told Sportico that the information reported was “inaccurate”, but did not provide further details.
Some might argue that bringing in outside investors is a way to make the deal more palatable, given the U.S. government’s questions. Conversely, such a move could be seen as a way for the tour to have its cake and eat it, too, by kicking the Saudis out after ending the lawsuit with a general agreement. The former is more realistic and would be a step towards reintegrating the game, while the latter would be a new pivot from the tour and would only lead to further battles with LIV.
After the past two years filled with uncertainty, this year was supposed to herald a new era in professional golf. Many questions remain, but some answers may be near.
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