PGA Tour Inks $3 Billion Deal With Fenway, Steve Cohen Group

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The PGA Tour has approved an investment of up to $3 billion by Strategic Sports Group (SSG) in a new commercial entity. The deal, led by John Henry's Fenway Sports Group, will feature an initial investment of $1.5 billion, with a further $1.5 billion potentially injected by SSG's consortium of investors. The transaction values the new entity at about $12 billion. The deal does not currently include Saudi Arabia's Public Investment Fund (PIF), but ongoing talks are taking place for PIF to make an investment in the future. Almost 200 PGA Tour members will have the opportunity to become equity holders in the new company, PGA Tour Enterprises. Other parties in the consortium include Steve Cohen's family office Cohen Private Ventures, Avenue Sports Fund, and various sports team owners.

#PgaTour #StrategicSportsGroup #FenwaySportsGroup #SteveCohen #Investment

https://finance.yahoo.com/news/pga-tour-said-approve-3-131511348.html