From CNBC:

A U.S. consortium has agreed to invest up to $3 billion into the PGA Tour, with an initial investment of $1.5 billion. The investor, Strategic Sports Group, will become a minority owner in PGA Tour enterprises, as the organization seeks to compete with new leagues and plan for the future.

As part of the agreement, nearly 200 players will have the opportunity to receive equity participation in the Tour, making them owners of their league and strengthening their investment in its success.

Strategic Sports Group is led by Fenway Sports Group’s John Henry and includes private equity names and sports owners like Atlanta Falcons owner Arthur Blank and New York Mets owner Steve Cohen.

The investment comes at a pivotal time for professional golf, as the PGA Tour faces competition from the Saudi-funded LIV Golf and a proposed merger between the two leagues. The deal is subject to Justice Department and regulatory approval.

The PGA Tour-LIV merger, originally set for Dec. 31, has been extended based on the progress made, with a formal decision expected ahead of the Masters Tournament in April.



Read more: PGA Tour secures up to $3 billion U.S. investment amid LIV Golf merger