John Henry speaks out for first time since Jurgen Klopp exit as Liverpool owners FSG confirm deal
Liverpool owners Fenway Sports Group have led a consortium to invest in the PGA Tour.
Liverpool owners Fenway Sports Group (FSG) have spearheaded a deal worth $3 billion to invest in the PGA Tour.
The Strategic Sports Group (SSG) consists of FSG along with several prominent owners of American sports team. They include the New York Mets’ Steven A. Cohen, the Atlanta Falcons’ Arthur M. Blank and the Boston Celtics’ Wyc Grousbeck.
FSG, who have been at the helm of Liverpool since 2010 while their portfolio also boasts the Boston Red Sox and Pittsburgh Penguins, had been in talks about investing in the PGA for several months.
The Boston-based group took their first step into golf when purchasing a franchise in the newly-formed Technology Golf League that is led by Tiger Woods and Rory McIlroy. Now they have come to an agreement to form the launch of PGA Tour Enterprises. It is a commercial venture designed to allow players to become equity holders.
SSG have fronted up an initial $1.5 billion. The agreement comes as the PGA remain in talks with LIV Golf – owned by Saudi Arabia’s Public Investment Fund – about a merger. LIV disrupted the sport by poaching several top players – most recently Masters champion John Rahm in a deal reportedly worth £400 million.
A deadline for a merger was set for 31 December 2023 but was granted an extension. The PGA said talks with PIF are ongoing and SSG has ‘consented’ an investment.
On the deal, FSG and Liverpool majority owner John Henry – who is the manager of SSG – said: “We greatly appreciate the opportunity to join PGA Tour players in this important next phase of the PGA Tour’s evolution.
“Our enthusiasm for this new venture stems from a very deep respect for this remarkable game and a firm belief in the expansive growth potential of the PGA Tour. We are proud to partner with this historic institution and are eager to work with the PGA TOUR and its many members to grow and strengthen the game of golf globally.”
Jay Monahan, commissioner of the PGA Tour and CEO of PGA Tour Enterprises, added: “Today marks an important moment for the PGA TOUR and fans of golf across the world.
“By making PGA TOUR members owners of their league, we strengthen the collective investment of our players in the success of the PGA TOUR. Fans win when we all work to deliver the best in sports entertainment and return the focus to the incredible – and unmatched – competitive atmosphere created by our players, tournaments and partners. And partnering with SSG – a group with extensive experience and investment across sports, media and entertainment – will enhance our organization’s ability to make the sport more rewarding for players, tournaments, fans and partners.”