PGA Tour turn to Tiger Woods in desperate attempt to validate $3bn investment deal
PGA Tour turn to Tiger Woods in desperate attempt to validate $3bn investment deal
Tiger Woods heralded the PGA Tour’s new deal after receiving a huge cash injection from an investment group that includes Liverpool owner John W. Henry and Fenway Sports Group
2024
The tour announced the deal, fronted by Liverpool owner John W. Henry, on Wednesday after negotiations were completed late on Tuesday evening, bringing an immediate $1.5b (£1.2b) cash injection, with the potential for that investment to double over time. New York Mets owner Steven A. Cohen and Atlanta Falcons supremo Arthur Blank are also part of the investment group.
The deal will give almost 200 PGA Tour members the opportunity to hold equity in newly-formed PGA Tour Enterprises, seen as a reward for loyalty amid the LIV Golf breakaway. The SSG investment is not directly tied to the PGA Tour’s ongoing negotiations with LIV backers the Saudi Arabia Public Investment Fund, with merger talks that would heal the fractures in the elite game being held up by US Government scrutiny.
