Golf/PGA Tour: creation of a commercial company via an investment from Strategic Sports Group

The PGA Tour, the organisation in charge of the professional golf circuit, has launched "PGA Tour Enterprises", its new commercial company, on 31/01/2024.

The company, which is "under the PGA Tour's control", is being financed by Strategic Sports Group (SSG), a consortium of sports team owners led by Fenway Sports Group, through an initial investment of $1.5bn (€1.38bn), with a maximum of $3bn (€2.76bn) available. "Fenway Sports Group will also serve as commercial advisor to this new enterprise," said PGA Tour.

The two partners are also giving "nearly 200 PGA Tour members" the opportunity to become shareholders in PGA Tour Enterprises, with collective access to more than $1.5bn of shares. The 36 top-ranked players are expected to share $700m (€646m) of stock, according to US media. "This not only further strengthens the Tour from a business perspective, but it also encourages the players to be fully invested in continuing to deliver - and further enhance - the best in golf to our fans," said PGA Tour player directors Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, Jordan…