The PGA Tour is reportedly attracting potential outside investors who may make a rival pitch to the Saudi-backed Public Investment Fund (PIF). Among these potential investors are Endeavor Group Holdings and Fenway Sports Group. The discussions are in the preliminary stages and are linked to a PGA Tour investment vehicle created as part of the framework agreement for its proposed deal with the PIF. While the PGA Tour spokesperson acknowledged the unsolicited interest from other investors, representatives for Endeavor and Fenway declined to comment.
In June, the PGA Tour announced a proposed merger with rival LIV Golf, financed by the PIF. However, the deal has faced criticism and controversy and is currently under investigation by a Senate subcommittee. The Saudi-backed proposal has been accused of “sportswashing” to divert attention from the kingdom’s human rights violations. The specifics of the deal and its valuation are still being debated, with the PGA Tour and its members having the final say on the investment structure, including potential alternative investors.
Endeavor, known for its recent merger between UFC and World Wrestling Entertainment, and Fenway Sports Group, an investment firm that supports major sports franchises such as the Boston Red Sox and Liverpool Football Club, are considering investing in the PGA Tour as potential rivals or alongside the PIF’s proposed deal. The discussions are in the early stages and are connected to an investment vehicle created by the PGA Tour as part of the framework agreement for its merger with LIV Golf. Although the PGA Tour spokesperson acknowledged the interest from other investors, Endeavor and Fenway declined to comment.
The proposed merger between the PGA Tour and LIV Golf, financed by the PIF, has faced scrutiny and is currently being investigated by a Senate subcommittee. The PIF has been accused of using sports to divert attention from Saudi Arabia’s human rights abuses, a practice known as “sportswashing.” The details of the deal and its worth are still being negotiated, and the final investment structure and potential alternative investors will be decided by the PGA Tour and its members. Despite challenges, the PGA Tour continues to attract attention from potential investors, introducing the possibility of rival bids from Endeavor and Fenway alongside the PIF’s proposal.
