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Saturday, April 20, 2024
HomeFinance NewsEndeavor and Fenway Sports Mull Potential 13-Word PGA Tour Investment

Endeavor and Fenway Sports Mull Potential 13-Word PGA Tour Investment

The PGA Tour is attracting potential outside investors who are considering making a rival pitch to the Saudi-backed Public Investment Fund’s proposal. Endeavor Group Holdings and Fenway Sports Group are among the investors considering investing in the PGA Tour, either to rival or coincide with the PIF’s proposed deal. The discussions are in the preliminary stages and stem from a PGA Tour investment vehicle created as part of the framework agreement for its proposed deal with PIF.

The PGA Tour has demonstrated its strength, reach, and value as an enterprise throughout 2023. While their focus remains on finalizing an agreement with the Public Investment Fund and the DP World Tour, the negotiations have resulted in unsolicited interest from other investors. Endeavor and Fenway declined to comment on the matter.

The proposed deal to merge the PGA Tour with rival LIV Golf has faced criticism and controversy, leading to an ongoing investigation by a Senate subcommittee. The Saudis have been accused of using the deal as a way to divert attention from their history of human rights violations through “sportswashing”. Endeavor, known for its recent merger of UFC and World Wrestling Entertainment, and Fenway, an investment firm backing major sports franchises, are now exploring the possibility of a rival offer to the PGA Tour.

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