The PGA Tour has entered into talks with Strategic Sports Group (SSG) over potentially fresh investment in the golfing organisation.
SSG is a large consortium that consists of Fenway Sports Group (FSG), along with New York Mets owner Steve Cohen, Atlanta Falcons owner Arthur Blank, and RedBird Capital’s Gerry Cardinale.
The PGA also remains in talks surrounding its merger with LIV Golf and the DP World Tour as the latter’s primary investor, the Saudi Public Investment Fund, is also rumoured to be providing the PGA with investment.
SSG was one of five groups being considered as potential investors in the PGA alongside the aforementioned list of sports team owners.
The other four contenders who were believed to be in the race to become equity partners were Liberty Strategic Capital, Acorn Growth Companies, and Eldridge Industries.
The PGA sent out a memo to players on 10 December noting that its Tour Policy Board was ‘very confident in an eventual, positive outcome for all players and the PGA Tour as a whole’.
The memo continued by stating that ‘further, the DP World Tour will continue to be an important part of the process as we build toward PGA Tour Enterprises’.
When it came to addressing the potential investment from the PIF, it revealed that something will develop ‘in the weeks to come’.
The PGA merger with LIV Golf currently has a deadline that expires on 31 December, but it is also highly likely that the date could be pushed further into 2024.