The Future of Men's Professional Golf
A New Investment that Benefits Players, Fans and Partners
Over the past half century, the PGA TOUR has been firmly rooted in its mission – to showcase and reward the game’s best players, competing at historic venues and positively impacting the communities in which we play. We have an unwavering commitment to further develop and build upon the rich tradition of professional golf in the U.S. and worldwide.
That’s why a potential minority investment is not only the clear, best path forward for professional golf but also is a highly favorable outcome for the PGA TOUR.
We remain focused on negotiating a deal with the DP World Tour and the Public Investment Fund (PIF) of Saudi Arabia. If approved by the PGA TOUR Policy Board, such an agreement will make the game more rewarding and exciting to follow.
After reviewing unsolicited offers from outside investors, we also unanimously agreed to advance discussions with Strategic Sports Group, a consortium of U.S.-based professional sports team investors. The PGA TOUR Policy Board reviewed several extremely strong proposals, with input from Allen & Co., the TOUR’s investment bank, and The Raine Group.
Below are the investors who comprise Strategic Sports Group:
- Mark Attanasio, chairman and principal owner of the Milwaukee Brewers
- Arthur Blank, owner of the Atlanta Falcons, co-founder of Home Depot
- Gerry Cardinale, founder of RedBird Capital Partners
- Cohen Private Ventures
- Fenway Sports Group
- Mike Gordon, president of Fenway Sports Group
- Wyc Grousbeck, owner of the Boston Celtics
- John Henry, principal owner of Fenway Sports Group, Boston Red Sox and Liverpool Football Club
- HighPost Capital
- Marc Lasry, owner of the Milwaukee Bucks
- Tom Ricketts, chairman of the Chicago Cubs
- Tom Werner, chairman of Fenway Sports Group
We are very confident in an eventual positive outcome for all players and the PGA TOUR as a whole.
Our Potential Agreement Explained
The Framework Agreement, as announced on June 6, provides clear, explicit and permanent safeguards that ensure that a newly formed subsidiary – if finalized and approved – is controlled by the PGA TOUR through majority representation on its Board of Directors. The TOUR will also have full decision-making authority with respect to all strategic and operational matters related to competition in golf and will oversee the commercial assets of the competitions and concentrate on making strategic investments in the game.
What's Next?
We are in a phase of negotiation to reach a final Definitive Agreement. If a final agreement is reached, it must be approved by the PGA TOUR's Policy Board, which includes our six Player Directors.
A Definitive Agreement would allow the TOUR to further invest in its players and the events, venues, communities and technology that bring the game to life for the benefit of fans. Our ultimate goal is to reunify the world of men’s professional golf, reward players for their performances, enhance the fan experience and further our charitable mission.
Our Commitment to Community
Our charitable impact and commitment to support and improve local communities continue to grow. PGA TOUR tournaments have raised more than $4 billion for charity since our inception in 1968.
