FSG at ‘critical stage’ over $3bn golf investment

FSG are said to be entering a crucial stage in their bid to become shareholders in the reformed PGA Tour.

Image Credits: Getty Images

Liverpool owners Fenway Sports Group (FSG) are reportedly a ‘critical stage’ in their latest investment venture.

The American group already own Liverpool, Major League Baseball team the Boston Red Sox and National Hockey League outfit the Pittsburgh Penguins.

However, they seem intent on expanding their holdings, with American golf now the focus of their portfolio expansion.

In 2023, FSG purchased a franchise in the world of golf, specifically in the newly created TGL – a virtual golf league created by Tiger Woods and Rory McIlroy in partnership with the PGA Tour.

Then, FSG joined a consortium of other investors and sports owners, including Jeff Bezos’s brother Mark Bezos, to form the Strategic Sports Group (SSG).

SSG has been in discussions to become a part of the PGA Tour dating back to last year.

The new group is keen to close a deal worth around $3 billion as reported by ESPN.

The world of golf was divided when LIV Golf was founded.

It is a breakaway league from the original PGA Tour funded by Saudi Arabia’s Public Investment Fund (the same group that took over Newcastle United).

Shaking up the established status quo naturally caused tension and complications, and as a result the PGA Tour and the DP World Tour (formerly the European Tour) had agreed to form one unified commercial entity with LIV.

Now according to 2013 Masters winner Adam Scott, who is a member of the PGA board, an agreement could come very soon.

What did Adam Scott say about FSG and their investment into the PGA Tour?

Adam Scott suggested that the FSG-backed Strategic Sports Group are at a ‘critical stage’ regarding their venture:

“At the moment we are at a critical stage with the SSG deal hopefully coming to a close very soon,”

“Everything seems to be moving as fast as it can, but we are always reminded these are very complex deals.”

Regarding whether the PGA and the Saudi-backed LIV Golf League are any closer to coming to an agreement over a unified entity, Scott explained (via The Times):

“I really don’t know. There’s been no date set for anything. They’ve still got plenty to discuss.”

“Obviously, things are not in flush alignment, with Jon Rahm leaving to go over kind of rocking the boat when we are meant to be working towards some sort of arrangement, but there’s two sides in this negotiation.”

“The reality is we can’t have professional golf in constant disruption. There needs to be more understanding that disruption is not good for anyone.”

“It certainly won’t help the cause of LIV and PIF, and therefore Saudi Arabia, to be easily welcomed into the game, which is genuinely what I think they want.”

“More cooperation is needed to get through this point we’ve been at for the past six months.”

Related articles: