On Wednesday, the PGA Tour and Strategic Sports Group announced PGA Tour Enterprises, a new program that transforms players into equity holders. SSG is made up of billionaire sports team owners, including Fenway Sports Group (Boston Red Sox, Liverpool).
Of the $3 billion investment, $1.5 billion will be given to a pool of nearly 200 players, with the highly-ranked players getting more. SSG is on board with the Tour’s negotiations with Saudi Arabia’s Public Investment Fund, but there will be regulatory issues when it’s time to make a deal.
As you’d expect, this news quickly made its way around social media as the landscape of professional golf continues to change.
Here are some reactions to the deal between the Tour and SSG.
PGA Tour commissioner Jay Monahan talks during the singles match play of the Presidents Cup golf tournament at Quail Hollow Club. Mandatory Credit: Peter Casey-USA TODAY Sports
“Today marks an important moment for the PGA Tour and fans of golf across the world. By making PGA Tour members owners of their league, we strengthen the collective investment of our players in the success of the PGA Tour. Fans win when we all work to deliver the best in sports entertainment and return the focus to the incredible – and unmatched – competitive atmosphere created by our players, tournaments and partners. And partnering with SSG – a group with extensive experience and investment across sports, media and entertainment – will enhance our organization’s ability to make the sport more rewarding for players, tournaments, fans and partners.”
Tiger Woods reacts after his son, Charlie Woods, chips in for a birdie on the ninth green during the final round of the 2023 PNC Championship at the Ritz-Carlton Golf Club in Orlando. (Photo by Mike Ehrmann/Getty Images)
“We were proud to vote in unanimous support of this historic partnership between PGA Tour Enterprises and SSG. It was incredibly important for us to create opportunities for the players of today and in the future to be more invested in their organization, both financially and strategically. This not only further strengthens the TOUR from a business perspective, but it also encourages the players to be fully invested in continuing to deliver – and further enhance – the best in golf to our fans. We are looking forward to this next chapter and an even brighter future.”
Boston Red Sox owner John Henry at Fenway Park before a game against the Minnesota Twins. Every player is wearing number 42 in honor of Jackie Robinson. Mandatory Credit: Paul Rutherford-USA TODAY Sports
“We greatly appreciate the opportunity to join PGA Tour players in this important next phase of the PGA Tour’s evolution. Our enthusiasm for this new venture stems from a very deep respect for this remarkable game and a firm belief in the expansive growth potential of the PGA TOUR. We are proud to partner with this historic institution and are eager to work with the PGA TOUR and its many members to grow and strengthen the game of golf globally.”
As long as this new deal means we can stop talking about all this business/tours/money/feuding bullshit, I’m all in. I don’t care what it looks like, what millionaire becomes more millionaire-y … just allow us to talk about golf again. Fingers crossed!
— Shane Bacon (@shanebacon) January 31, 2024
A question I have been thinking about over the last few weeks: If you’re SSG, is the PIF a bigger risk to your investment if it’s inside the moat or outside of it?
— Kyle Porter (@KylePorterCBS) January 31, 2024
The thought of Rahm cutting what he believed was the greatest backdoor deal of all-time, only to now be possibly stuck in a format he’s said he opposes on multiple occasions, is, objectively, sick
— Joel Beall (@JoelMBeall) January 31, 2024
Not to be too much of a downer, but every single development in professional golf over the past three years has made the sport more lucrative for the players and less captivating and less relatable for the fans.
I fail to see how this one will be any different.
— ANTIFAldo (@ANTIFAldo) January 31, 2024
Today’s deal really has no impact on LIV Golf or its future relationship with the PGA Tour. The PGA Tour gets money, LIV continues as a separate entity. At least for now. Regulatory issues really complicating any sort of “merger.”
— Dan Rapaport (@Daniel_Rapaport) January 31, 2024
As expected… there wasn’t a ton from the player call that explained it more than the press release. It was an introductory call. SSG are investors to the pgatour. Players are equity holders. They will use the money to invest more into the pgatour and hopefully the fans will have…
— Michael S. Kim (@Mike_kim714) January 31, 2024
I know this isn’t as simple I’m about to tweet. There are many layers.
But just once I’d like these news dumps to be about the fans and less about the billions of dollars that multimillionaires are going to divide up.
— Monday Q Info (@acaseofthegolf1) January 31, 2024