PGA Tour advances deal talks with investors including Fenway Sports Group (updated)

Endeavor group

10/12/2023 23:03

(Changes source, adds details from PGA statement, background in
paragraph 5)
       Dec 10 (Reuters) - 
    The PGA Tour said on Sunday that it has unanimously decided
to advance discussions with Strategic Sports Group (SSG), a
consortium of U.S.-based sports team investors that includes
Fenway Sports Group.
        The PGA Tour Policy Board selected SSG to further
negotiate with, even as talks with the Saudi Arabia's Public
Investment Fund (PIF) continue to progress, according to a
statement posted to PGA's website.
  
        "Further, the DP World Tour will continue to be an
important part of the process as we build toward PGA TOUR
Enterprises." PGA said.
  
        Fenway Sports Group are the owners of Major League
Baseball's Boston Red Sox, as well as Premier League club
Liverpool. The consortium also includes investment firm Cohen
Private Ventures, New York Mets owner Steve Cohen's family
office and private equity firm HighPost Capital.
  
        Reuters reported in September that Fenway Sports Group
and Endeavor Group  EDR.N  were interested in investing in the
PGA Tour and any potential transaction would rival PGA's deal
with the PIF.
        
  
        
  
    
    
    
    

 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Mark
Porter and Diane Craft)
 ((rishabh.jaiswal@thomsonreuters.com;))