The PGA Tour has issued a statement this Sunday announcing the start of negotiations with an external investor aside from the Public Investment Fund (PIF) and in parallel with them. Negotiations with the PIF are not being broken off, but work is being done at the same time in another direction.
The board of directors of the PGA TOUR has unanimously chosen an external investor group to continue negotiating while conversations with the PIF continue to progress, they have assured in the statement. The investor group in question is Strategic Sports Group (SSG) and the decision has been communicated as such to all members of the American circuit.
This step forward has occurred after a series of board meetings in recent days, where an exhaustive review of the final “extremely important” proposals presented by various external investors was carried out. SSG is a consortium of professional sports team investors based in the United States.
At the same time, the memorandum reads, “we also estimate to advance in our negotiations with the PIF in the coming weeks”. And it adds: “the DP World Tour will continue to be an important piece of the process as we move towards PGA TOUR Enterprises“.
The statement to the players does not offer more specific details, but assures that the board is “very confident in a positive outcome for all players and the PGA TOUR as a whole.”
The investors that make up Strategic Sports Group are the following:
Marc Attanasio
Arthur Blank
Gerry Cardinale
Cohen Private Ventures
Fenway Sports Group
Mike Gordon
Wyc Grousbeck
John Henry
HighPost Capital
Marc Lasry
Tom Ricketts
Tom Werner
