The PGA Tour has lost its best player ever to LIV Golf, but the circuit says it is moving closer to selecting financial partners to help shape the sport's future landscape.
A few days after Jon Rahm officially made the decision to accept what many viewed as a $500 million-plus offer to join LIV, the PGA Tour announced that negotiations with its biggest rival's backers were back on track will come – with another group of players – Renowned sports investors are closing a possible deal with the PGA Tour.
After initially receiving up to eight offers from potential investors to either partner with or even replace Saudi Arabia's Public Investment Fund, the PGA Tour now has only one alternative option in addition to the PIF.
The PGA Tour will advance its discussions with Strategic Sports Group, a consortium of investors that includes:
- Mark Attanasio, owner of the Milwaukee Brewers
- Arthur Blank, owner of the Atlanta Falcons
- Gerry Cardinale, founder of RedBird Capital Partners
- New York Mets owner Steve Cohen
- Boston Red Sox parent company Fenway Sports Group
- Wyc Grousbeck, owner of the Boston Celtics
- Former Milwaukee Bucks co-owner Marc Lasry
- Tom Ricketts, chairman of the Chicago Cubs
The PGA Tour's negotiations with the PIF face a Dec. 31 deadline, but that could be extended. PGA Tour Commissioner Jay Monahan recently confirmed that it was likely that an additional investor would ultimately accompany any partnership with the PIF.
Editor's note: RedBird IMI is an investor in Front Office Sports.
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