Sports tycoons invest in golf at PGA Tour Enterprises

Pga Tour, the organisation that oversees the major professional golf tours in the United States, is opening up the capital of its subsidiary Pga Tour Enterprises to golfers and receiving an initial investment from Strategic Sports Group (Ssg), the consortium of several sports team owners led by John Henry's Fenway Sports Group, owner of the Boston Red Sox and Liverpool FC. Ssg will initially invest $1.5 billion in the company and will strategically focus on maximising revenue generation for the benefit of players and seeking opportunities to improve the game of golf worldwide.

"We greatly appreciate the opportunity to join the Pga Tour players on this important stage," commented John Henry, adding, "Our enthusiasm for this new venture stems from a deep respect for this extraordinary game and a firm belief in the vast growth potential of the Pga Tour."

The transaction allows for future co-investment by the Public Investment Fund (PIF), after the necessary regulatory approvals.

The Pga Tour, in partnership with Strategic Sports Group, today announced the launch of a subsidiary that will give PgaTour's 200 members and players access to capital. Under this programme, the players would collectively have access to over $1.5 billion of equity in Pga Tour Enterprises. These equity investments, which accrue over time, will be based on career achievements, recent results, participation and membership status on the Pga Tour.

"Today marks an important moment for the Pga Tour and golf fans around the world," comments Jay Monahan, commissioner of the Pga Tour and ceo of the new company, who continues: "By making Pga Tour members owners of their league, we reinforce our players' collective investment in the success of the society itself. Fans win when we all work to provide the best in sports entertainment and bring attention to the incredible - and unparalleled - competitive atmosphere created by our players, tournaments and partners. And partnering with Ssg - a group with extensive experience and investment in sports, media and entertainment - will enhance our organisation's ability to make sport more rewarding for players, tournaments, fans and partners".