BREAKING NEWS PGA Tour ‘on the verge of $3BILLION deal with major sports team owners including John Henry and Arthur Blank… but golf’s old order still hopes for a deal with the Saudi PIF too’
- Tom Werner of the Boston Red Sox joins John Henry and others in the talks
- If deal is agreed to with the PIF, $7 billion could be poured into the sport
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The PGA Tour is close to agreeing a multi-billion-dollar deal with a consortium of owners of major US sports teams including John Henry and Arthur Blank, according to reports.
But, ESPN claims, the tour remains hopeful of reaching a similar agreement with the Public Investment Fund of Saudi Arabia – which funds LIV Golf.
Strategic Sports Group is said to include Tom Werner and John Henry (Boston Red Sox and Liverpool FC), Arthur Blank (Atlanta Falcons) and Wyc Grousbeck (Boston Celtics).
If the Strategic Sports Group and the Public Investment Fund of Saudi Arabia reach a deal, more than $7 billion could be poured into PGA Tour Enterprises, combining the commercial assets of the PIF, PGA Tour, and DP World Tour.
The framework of a working agreement between the three major golf brands was signed June 6, but expires December 31. At extension is expected if cohesive progress is being made, per the report.
Boston Red Sox principal owner John Henry is part of the consortium of major US team owners
The new for-profit entity would see the PGA Tour retain control, per the agreement. The PIF and Strategic Sports Group would be minority owners.
Getting the deals done have an increased sense of urgency after Jon Rahm left the PGA Tour for LIV Golf for a reported $500 million last week.
It’s the latest move that could strain the ‘truce’ in place between the organizations , as the framework agreement did have a provision that banned the league’s from recruiting each other’s golfers.
The report also cites that the LIV recruitment of PGA golfers isn’t done, as the organization is looking to fill out a team captained by Rahm.
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