The PGA Tour has lost its best player ever to LIV Golf, but the circuit says it is close to selecting a financial partner to help shape the sport’s future prospects.
Days after Jon Rahm officially decided to accept what many believe to be an offer of more than $500 million for LIV, the PGA Tour has resumed negotiations with its arch-rival’s financial backers. It was announced that it was happening. – A prominent sports investor is nearing a deal with the PGA Tour.
After initially receiving as many as eight bids from potential investors to partner with or replace Saudi Arabia’s Public Investment Fund, the PGA Tour now has only one alternative in addition to PIF. There is.
The PGA Tour plans to proceed with discussions with Strategic Sports Group, a consortium of investors including:
- Mark Attanasio, owner of the Milwaukee Brewers
- Arthur Blank, owner of the Atlanta Falcons
- RedBird Capital Partners Founder Jerry Cardinal
- New York Mets owner Steve Cohen
- Fenway Sports Group, the parent company of the Boston Red Sox
- Wyk Grousbeck, owner of the Boston Celtics
- Former Milwaukee Bucks co-owner Marc Lasry
- Chicago Cubs Chairman Tom Ricketts
There is a Dec. 31 deadline for negotiations between the PGA Tour and PIF, but it could be extended. PGA Tour Commissioner Jay Monahan recently acknowledged that the partnership with PIF will likely eventually bring in additional investors.
Editor’s note: RedBird IMI is an investor in Front Office Sports.