The PGA Tour is reportedly attracting interest from potential outside investors, including Endeavor Group Holdings and Fenway Sports Group, who are considering making investments in the tour. These potential investments may compete with or complement the proposed deal with the Saudi-backed Public Investment Fund (PIF).
The discussions are in the preliminary stages and have emerged from a PGA Tour investment vehicle established as part of the framework agreement for the proposed deal with PIF. The PGA Tour spokesperson confirmed that while their focus remains on finalizing the agreement with PIF and the DP World Tour, they have received unsolicited interest from other investors.
Endeavor and Fenway Sports Group have not officially commented on the matter.
In June, the PGA Tour announced a proposed deal to merge with rival LIV Golf, which is financially supported by the PIF. The agreement has faced scrutiny and controversy, with allegations of “sportswashing” to divert attention from human rights concerns related to Saudi Arabia. The deal is currently under investigation by a Senate subcommittee.
The specifics of the deal’s valuation and structure are still being negotiated, with the tour’s board, including player directors, set to approve the final agreement. The PGA Tour and its members will ultimately decide on the investment structure, whether it includes PIF, alternative investors, or a combination of both.
Endeavor recently played a role in the merger of its UFC and World Wrestling Entertainment, resulting in the creation of a publicly traded company called TKO. Fenway Sports Group has investments in various major sports franchises, including the Boston Red Sox, Liverpool Football Club, and the Pittsburgh Penguins.
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