{"id":302472,"date":"2023-12-15T21:11:42","date_gmt":"2023-12-15T21:11:42","guid":{"rendered":"https:\/\/sportstons.com\/?p=302472"},"modified":"2023-12-15T21:11:42","modified_gmt":"2023-12-15T21:11:42","slug":"pga-tour-on-the-verge-of-3bn-deal-with-major-sports-team-owners","status":"publish","type":"post","link":"https:\/\/sportstons.com\/golf\/pga-tour-on-the-verge-of-3bn-deal-with-major-sports-team-owners\/","title":{"rendered":"PGA Tour &apos;on the verge of $3BN deal with major sports team owners&apos;"},"content":{"rendered":"<h1><span>BREAKING NEWS<\/span> PGA Tour &#8216;on the verge of $3BILLION deal with major sports team owners including John Henry and Arthur Blank&#8230; but golf&#8217;s old order still hopes for a deal with the Saudi PIF too&#8217;<\/h1>\n<ul>\n<li><b>Tom Werner of the Boston Red Sox joins John Henry and others in the talks<\/b><\/li>\n<li><b>If deal is agreed\u00a0to with the PIF, $7 billion could be poured into the sport<\/b><\/li>\n<li><strong>DailyMail.com provides all the latest international sports news\u00a0<\/strong><\/li>\n<\/ul>\n<p>The PGA Tour is close to agreeing a multi-billion-dollar deal with a consortium of owners of major US sports teams including John Henry and Arthur Blank, according to reports.<\/p>\n<p>But, ESPN claims, the tour remains hopeful of reaching a similar agreement with the Public Investment Fund of Saudi Arabia &#8211; which funds LIV Golf.\u00a0<\/p>\n<p>Strategic Sports Group is said to include Tom Werner and John Henry (Boston Red Sox and Liverpool FC), Arthur Blank (Atlanta Falcons) and Wyc Grousbeck (Boston Celtics).<\/p>\n<p>If the Strategic Sports Group and the Public Investment Fund of Saudi Arabia reach a deal, more than $7 billion could be poured into PGA Tour Enterprises, combining the commercial assets of the PIF, PGA Tour, and DP World Tour.\u00a0<\/p>\n<p>The framework of a working agreement between the three major golf brands was signed June 6, but expires December 31. At extension is expected if cohesive progress is being made, per the report.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/12\/15\/18\/79013701-12869481-image-a-1_1702663406861.jpg\" height=\"423\" width=\"634\"><\/p>\n<p>Boston Red Sox principal owner John Henry is part of the consortium of major US team owners<\/p>\n<p>The new for-profit entity would see the PGA Tour retain control, per the agreement. The PIF and\u00a0Strategic Sports Group would be minority owners.\u00a0<\/p>\n<p>Getting the deals done have an increased sense of urgency after Jon Rahm left the PGA Tour for LIV Golf for a reported $500 million last week.\u00a0<\/p>\n<p>It&#8217;s the latest move that could strain the &#8216;truce&#8217; in place between the organizations , as the framework agreement did have a provision that banned the league&#8217;s from recruiting each other&#8217;s golfers.\u00a0<\/p>\n<p>The report also cites that the LIV recruitment of PGA golfers isn&#8217;t done, as the organization is looking to fill out a team captained by Rahm.\u00a0\u00a0<\/p>\n<p>MORE TO FOLLOW\u00a0<\/p>\n<p>Source: <a href=\"https:\/\/www.dailymail.co.uk\/sport\/golf\/article-12869481\/PGA-Tour-3BILLION-deal-team-owners-John-Henry-Arthur-Blank-Saudi-PIF-too.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BREAKING NEWS PGA Tour &#8216;on the verge of $3BILLION deal with major sports team owners including John Henry and Arthur <span class=\"more-text\">&hellip;<\/span><\/p>\n","protected":false},"author":2,"featured_media":302471,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PGA Tour &amp;apos;on the verge of $3BN deal with major sports team owners&amp;apos; 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