The PGA Tour and Strategic Sports Group have just made a $3 billion deal to create a new entity called PGA Tour Enterprises. Strategic Sports Group will hold a minority stake in the new company, while the PGA Tour remains the majority shareholder. SSG includes several prominent sports executives who will be part of the new venture.
Furthermore, the PGA Tour is still in negotiations to merge with Saudi Arabia’s Public Investment Fund and the DP World Tour, a deal that could bring in billions of dollars to PGA Tour Enterprises.
In recent years, numerous golfers have left the PGA Tour for Saudi-backed LIV Golf, prompting the PGA to threaten a one-year ban for defectors. However, notable players like Rory McIlroy are advocating for a change in policy, emphasizing the need for a unified approach in growing the game of golf.
Meanwhile, high-profile golfers such as Tyrrell Hatton, John Rahm, Adrian Meronk, and Lucas Herbert have recently made the switch to LIV Golf, signaling a trend in the industry. Despite this, McIlroy is calling for an open policy that allows eligible players to return to the PGA Tour if they wish to do so.