Fenway Sports Group (FSG), the owners of Liverpool, are on the verge of finalizing a substantial investment through the Strategic Sports Group (SSG) in the PGA Tour, with the deal expected to be concluded “very soon.” FSG, based in Boston, already boasts an impressive sports portfolio, including the Boston Red Sox in Major League Baseball and the Pittsburgh Penguins in the National Hockey League.
The move into golf reflects FSG’s growing interest in the sport, having purchased a franchise, now known as Boston Common, in the innovative Technology Golf League spearheaded by Tiger Woods and Rory McIlroy in June of the previous year. Collaborating with influential investors and sports owners, such as Arthur Black (Atlanta Falcons in the NFL) and Wyc Grousbeck (Boston Celtics in the NBA), FSG formed the Strategic Sports Group.
SSG has been engaged in discussions about investing in the PGA Tour since the previous year. Following the disruption caused by the Saudi Arabia Public Investment Fund-backed LIV Golf in the golfing world, negotiations for a merger between the PGA Tour and the DP World Tour were initiated but have yet to be finalized after the extended deadline of December 31.
Reportedly, ESPN values the potential investment by SSG in the PGA Tour at $3 billion. According to Adam Scott, the 2013 Masters winner and a player director on the PGA board, the agreement is progressing well and is poised for closure. Scott mentioned, “At the moment, we are at a critical stage with the SSG deal hopefully coming to a close very soon.”
Regarding the Saudi PIF, which owns Newcastle United, Scott dismissed rumors of a new deadline set for April. He emphasized the complexity of negotiations and the need for more cooperation to avoid constant disruption in professional golf. Scott stated, “There needs to be more understanding that disruption is not good for anyone,” highlighting the importance of cooperation in overcoming the challenges that have persisted over the past six months.
