On March 6, PGA Tour Enterprises announced the creation of its new for-profit arm. This $1.5 billion initial investment was led by Strategic Sports Group (SSG), who promised to bring their collective expertise to the circuit’s future opportunities. SSG members with exceptional track records and achievements in global professional sports were welcomed to the leadership team by tour commissioner Jay Monahan.
The board of directors of PGA Tour Enterprises met for nearly four hours at The RBC Heritage to discuss their plans for the new entity. The meeting included player directors such as Tiger Woods and Jordan Spieth, independent director Joe Gorder, and SSG directors. Additionally, a “meet and greet” was held with the Player Advisory Council and Theo Epstein, a senior advisor at Fenway Sports Group.
The partnership between SSG and the PGA Tour involves a strategic investment of up to $3 billion, with a significant portion going towards player equity in PGA Tour Enterprises. Negotiations with PIF governor Yasir Al-Rumayyan are progressing, but key issues still need to be resolved before a final agreement is reached.