PGA TOUR INKS $3 BILLION DEAL

The PGA Tour has secured a $US3 billion ($A4.5 billion) investment from a consortium of U.S sports team owners as part of a deal that will benefit its players and allow for co-investment from Saudi Arabia’s Public Investment Fund. The deal with Strategic Sports Group (SSG) will give the US-based circuit’s players access to more than $US1.5 billion ($A2.3 billion) as equity owners in the new PGA Tour Enterprises. “Today marks and important moment for the PGA Tour and fans of golf across the world,” PGA Tour Commissioner Jay Monahan, CEO of the new enterprise, said in a news release. “By making the PGA Tour members owners of their league, we strengthen the collective investment of our players in the success of the PGA Tour.” Monahan added that the deal would enhance the organisation’s…

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Golf Australia (Digital) - 1 Issue, Mar 2024 - Issue 418

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