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Strategic Sports Group

All articles tagged with #strategic sports group

sports1 year ago

"PGA Tour Allocates $1.5 Billion in Player Equity Grants and New Funding"

The PGA Tour is set to issue $930 million in initial player equity grants as part of its new partnership with Strategic Sports Group, with the grants being awarded to four groups of players. The grants will be based on various performance criteria and will vest over time, with additional recurring grants planned through 2030. The Tour plans to communicate the details of the equity program over the next few weeks, with a focus on compliance with legal and regulatory requirements.

via NBC Sports|
#equity-grants#investment#pga-tour
sports1 year ago

"PGA Tour's $1.5B Funding Plan Unveiled: Equity Grants and For-Profit Changes"

The PGA Tour plans to use $1.5 billion in new funding from Strategic Sports Group to distribute initial player equity grants to top golfers based on career performance, results over the past five seasons, and the Player Impact Program. The grants will be distributed to 193 PGA Tour members in four different groups, with additional recurring grants planned for future top performers. The partnership with SSG aims to make PGA Tour members direct equity owners in their sports league, marking a historic moment in PGA Tour history.

via ESPN|
#for-profit-entity#golf#pga-tour
sports1 year ago

"Jordan Spieth: PIF Alliance Unnecessary After PGA Tour's $3 Billion SSG Deal"

Golfer Jordan Spieth believes the PGA Tour's new partnership with Strategic Sports Group (SSG) may make a deal with Saudi Arabia’s Public Investment Fund (PIF) unnecessary, as SSG's $3 billion investment allows players to become equity holders in PGA Tour Enterprises. While Spieth sees potential for a future partnership with PIF and LIV Golf, the deal with SSG has made players owners and could impact negotiations with PIF. The ongoing dialogue with PIF is supported by SSG, but the impact of the SSG deal on these negotiations remains unclear.

via New York Post |
#jordan-spieth#liv-golf#pga-tour
sports1 year ago

"PGA Tour Secures Historic $3 Billion Deal with Equity Ownership for Players"

The PGA Tour has secured a $3 billion investment from Strategic Sports Group, allowing players to become equity owners in the new PGA Tour Enterprises. This move comes after the tour's framework agreement with the Saudi backers of LIV Golf, prompting private equity groups to join. The deal with SSG allows for a potential co-investment from the Public Investment Fund of Saudi Arabia, subject to regulatory approval. The unique equity program will give players access to initial grants and recurring grants, with SSG investing $1.5 billion into PGA Tour Enterprises and another $1.5 billion toward PGA Tour business. The PGA Tour plans to hold player meetings to work through the details of the equity ownership program.

via The Associated Press|
#equity-ownership#golf#pga-tour
sports1 year ago

"Inside the $3 Billion PGA Tour Deal: Investors, Alliances, and Equity Ownership Explained"

The PGA Tour has finalized a $3 billion deal with Strategic Sports Group (SSG), a collection of investors with extensive sports ownership experience across various leagues, including MLB, NFL, NBA, NHL, and EPL. SSG's investors, including John Henry, Mark Attanasio, Arthur Blank, Steve Cohen, Wyc Grousbeck, and Marc Lasry, will make an initial investment of $1.5 billion into PGA Tour Enterprises, with PGA Tour players collectively having access to $1.5 billion in equity shares of the new company. The negotiations with the Saudi Public Investment Fund (PIF) are ongoing, and SSG's involvement marks the largest ever investment in pro golf.

via The Athletic|
#golf#investors#pga-tour
sports1 year ago

"PGA Tour Secures $3 Billion Investment for New Enterprises Program"

The PGA Tour has secured a $3 billion deal with Strategic Sports Group, with nearly 200 players gaining access to over $1.5 billion in equity in the Tour’s new for-profit entity, PGA Tour Enterprises. This landmark agreement marks a significant shift in how the Tour rewards performance and aims to align the interests of players, management, and investors. The investment will be used to fuel growth in areas such as digital platforms, data programs, and international presence, while negotiations with the Saudi Public Investment Fund continue.

via NBC Sports|
#equity#investment#partnership
sports1 year ago

"PGA Tour Secures $3 Billion Deal Amid Ongoing LIV Talks and Senate Inquiry"

The PGA Tour has finalized a $3 billion deal with Strategic Sports Group to establish a for-profit entity, PGA Tour Enterprises, with billionaire sports team owners as minority investors, while negotiations with Saudi Arabia's Public Investment Fund and the DP World Tour continue. PGA Tour commissioner Jay Monahan is expected to inform tour members of the deal, and discussions are ongoing to address questions and provide details. Meanwhile, golfer Rory McIlroy supports LIV players returning to the PGA Tour without punishment and urges for a swift resolution to the ongoing negotiations.

via ESPN|
#liv-golf-league#pga-tour#rory-mcilroy
sports2 years ago

PGA Tour Nears $3BN Deal with Sports Team Owners Amidst Mistrust and Rivalry

The PGA Tour is nearing a multibillion-dollar deal with a group of U.S. sports team owners, including the Boston Red Sox and Atlanta Falcons, to create a new for-profit entity called PGA Tour Enterprises. The tour is also in talks with Saudi Arabia's Public Investment Fund (PIF), which is financing the rival LIV Golf League. If deals are reached with both Strategic Sports Group and the PIF, over $7 billion could be infused into PGA Tour Enterprises. The agreements aim to stabilize the sport amidst player defections and a federal antitrust lawsuit, but they still need to be scrutinized by the U.S. Department of Justice.

via ESPN|
#liv-golf-league#pga-tour#public-investment-fund
sports2 years ago

PGA Tour's Saudi deal gains momentum with Fenway's investment and advancing negotiations

Fenway Sports Group, along with a coalition of U.S. sports investors called Strategic Sports Group, is in the final stages of negotiations to become co-investors in a potential deal between the PGA Tour and Saudi Arabia's Public Investment Fund (PIF). The consortium, which includes investors such as Wyc Grousbeck, Tom Ricketts, and Steve Cohen, has been selected after a thorough review of other offers. The PGA Tour aims to continue negotiations with the PIF in the coming weeks, as time is running out to finalize the deal by December 31. The deal has faced resistance from PGA Tour players and scrutiny from lawmakers concerned about Saudi Arabia's intentions.

via CNBC|
#fenway-sports-group#pga-tour#public-investment-fund
sports2 years ago

PGA Tour Advances Negotiations with Strategic Sports Group and Investors, Seeking Unity and Transformation in Pro Golf

The PGA TOUR Policy Board has chosen Strategic Sports Group (SSG) to continue negotiations with as talks with the PIF progress. SSG, a consortium of U.S.-based professional sports team investors, was selected after a thorough review of final proposals from various outside investors. The Board also expressed confidence in reaching a positive outcome for all players and the PGA TOUR as a whole.

via PGA TOUR|
#investment#negotiations#pga-tour