PGA nearing $3B deal with American investors

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Sources: PGA Tour, U.S. group nearing $3B deal

A deal between a group of well-known U.S. sports team owners and the PGA Tour that would infuse more than $3 billion into a new for-profit entity, PGA Tour Enterprises, is imminent, sources told ESPN on Friday.

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A multibillion-dollar deal between a group of well-known U.S. sports team owners and the PGA Tour is imminent, and the tour is still hoping to reach a similar agreement with Saudi Arabia's Public Investment Fund, sources told ESPN on Friday.

The agreement with Strategic Sports Group, a consortium of billionaire team owners that includes Tom Werner and John Henry (Boston Red Sox), Arthur Blank (Atlanta Falcons) and Wyc Grousbeck (Boston Celtics), would infuse more than $3 billion into a new for-profit entity, PGA Tour Enterprises, the sources said.

The PGA Tour is also continuing talks with officials from the Public Investment Fund (PIF), which is financing the rival LIV Golf League. If a deal is reached with both Strategic Sports Group and the PIF, more than $7 billion might be infused into PGA Tour Enterprises, which would combine commercial assets of the PGA Tour, PIF and DP World Tour.

A deal with Strategic Sports Group might be announced before the end of the year. The PGA Tour, DP World Tour and the PIF signed a framework agreement to form a partnership on June 6. The agreement is set to expire Dec. 31