PGA TOUR in an up to $3 billion investment by Strategic Sports Group in PGA TOUR Enterprises
On January 31, 2024, the PGA TOUR announced a groundbreaking investment of up to $3 billion in PGA TOUR Enterprises by Strategic Sports Group (SSG), a consortium of American sports team owners led by Fenway Sports Group. The consortium includes support from individuals with over 200 years of combined sports team stewardship across major global sports leagues, including John Henry, Steven A. Cohen and Arthur M. Blank. PGA TOUR Enterprises will be controlled by the PGA TOUR and PGA TOUR players will have the opportunity to receive over $1.5 billion in immediate and future equity in the company.
The transformative and innovative transaction, in which strategic investment capital will be combined with the PGA TOUR’s commercial operations and players will have the opportunity to become equity owners, is the first of its kind for a major sports league.
Wachtell, Lipton, Rosen & Katz served as legal advisor to the PGA TOUR.