- Tom Werner of the Boston Red Sox joins the conversations with John Henry and others
- If an agreement is reached with the PIF, $7 billion could be injected into the sport
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According to reports, the PGA Tour is on the verge of signing a multi-billion dollar deal with a consortium of owners of major American sports teams, including John Henry and Arthur Blank.
But, ESPN claims the tour remains hopeful of reaching a similar agreement with Saudi Arabia's Public Investment Fund, which finances LIV Golf.
Strategic Sports Group would include Tom Werner and John Henry (Boston Red Sox and Liverpool FC), Arthur Blank (Atlanta Falcons) and Wyc Grousbeck (Boston Celtics).
If the Strategic Sports Group and Saudi Arabia's Public Investment Fund reach an agreement, more than $7 billion could be poured into PGA Tour Enterprises, combining the commercial assets of the PIF, PGA Tour and DP World Tour.
“As stated in the player memo last Sunday, the PGA TOUR Policy Board unanimously agreed to continue negotiating with the Strategic Sports Group (SSG) and that we also anticipate advancing our negotiations with PIF,” the PGA said Tour in a statement.
Boston Red Sox principal owner John Henry is part of the consortium of major American team owners
The framework of a working agreement between the three major golf brands was signed on June 6, but will expire on December 31. An extension is expected if consistent progress is made, the report said.
The new for-profit entity would ensure the PGA Tour maintains control, according to the agreement. The PIF and Strategic Sports Group are said to be minority owners.
Getting the deals done has taken on a greater sense of urgency after Jon Rahm left the PGA Tour for LIV Golf last week for a reported $500 million.
It is the latest move that could strain the 'truce' between the organizations, as the framework agreement included a provision banning the leagues from recruiting each other's golfers.
The report also notes that LIV's recruitment of PGA golfers is not yet complete as the organization looks for a team led by Rahm.
The Strategic Sports Group also includes Tom Ricketts (Chicago Cubs) and Mark Attanasio (Milwaukee Brewers).