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The PGA Tour has been in near-constant upheaval since PIF officially launched LIV in late 2021. Startups are poaching big-name players on big contracts ahead of LIV’s 2022 start to competition, and beyond. (According to the Telegraph, the latest situation is Englishman Tyrrell Hatton, who was acquired for a reported $65 million. Hatton was to become a member of Boston Common Golf. , an entry into the FSG-backed simulator golf league TGL, whose debut has been postponed to 2025.)
What appeared to be a long and costly legal battle between the two teams was surprisingly shelved in June, when a framework agreement was announced for both tours to work together to restructure men’s professional golf.
PGA Tour Commissioner Jay Monahan and LIV Golf Chairman Yassir Al-Rumayyan announced plans to close the proposed partnership after the proposed Dec. 31 deadline to complete the deal with New Golf. Consultations have been ongoing over the past few months regarding the size, scope and nature of the project. “We are working to extend negotiations into next year based on progress made to date,” the statement said.
Discussions between key stakeholders, including the DP World (formerly European) Tour, have otherwise been shrouded in secrecy for months.
In December, the PGA Tour’s policy committee, whose executives include players, confirmed it had chosen to pursue investment negotiations with the SSG Consortium, a group of owners of North America’s five major sports leagues.
In addition to FSG itself, its top four owners (John Henry, Tom Werner, Jerry Cardinale, and Mike Gordon) are individually listed as SSG members. In addition to the Red Sox, FSG also owns the Liverpool Football Club, the NHL’s Pittsburgh Penguins, and 80 percent of NESN. (Henry also owns a glove.)
The SSG mix also includes Celtics lead owner Wick Grousbeck. Mark Attanasio, owner of the Milwaukee Brewers. Arthur Blank, owner of the NFL’s Atlanta Falcons and MLS’s Atlanta United. New York Mets owner Stephen A. Cohen and his Cohen Private Ventures. David Moross of Hipost Capital. Mark Lasry, former co-owner of the Milwaukee Bucks. and Tom Ricketts, owner of the Chicago Cubs.
In a statement regarding the proposed partnership with the PGA Tour, Henry said: [a consortium of US-based professional sports team investors] has expressed an interest in supporting the PGA Tour and its affiliate partner, the DP World Tour, and looks forward to continuing dialogue to advance the commercial aspects of the Tour on behalf of its members, partners, and fans around the world. I look forward to it. ”
Shortly after the progress in SSG negotiations, LIV Golf announced that it had signed current Masters champion and world No. 3 Jon Rahm to a contract reportedly worth more than $300 million. (Hatton will join Rahm’s new LIV team.) Rahm will join LIV along with other major champions Dustin Johnson, Brooks Koepka, Bryson DeChambeau, Cameron Smith and Phil Mickelson.
CBS’ PGA Tour TV ratings rose 1% last year from 2022. LIV Golf, which has a broadcast agreement with the CW Network, stopped publishing ratings for tour venues in April.
Mr. Monaghan’s revelation that he was working with, rather than against, PIF led to such a backlash that Mr. Monaghan, a Belmont native and former FSG employee, took a leave of absence, saying it was related to stress. .
PIF’s involvement has drawn the attention of lawmakers in Washington, D.C., who are concerned about Saudi Arabia’s stance on human rights, including the killing of journalist Jamal Khashoggi. Khashoggi’s assassination is believed by U.S. intelligence to have been approved by Saudi leaders.
Michael Silverman can be reached at michael.silverman@globe.com.
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