Liverpool’s owners, FSG, are reportedly nearing a deal to inject $7bn into the golf. Led by Fenway Sports Group, the consortium, which boasts figures like John W. Henry and Tom Werner, is actively diversifying its investments.
The consortium, under FSG’s helm, is close to finalising a $3bn investment pact with the PGA Tour. This initiative involves the formation of Strategic Sports Group (SSG), a new entity, to oversee potential investments in golf. Key figures in this endeavor include John W. Henry, Tom Werner, Mike Gordon, and Gerry Cardinale, who holds an 11% stake in FSG and co-founded RedBird Capital Partners.
The SSG bid also comprises several prominent US team owners. Notable members are Wyc Grousbeck of the Boston Celtics, Arthur Blank representing the Atlanta Falcons, Marc Attanasio from the Milwaukee Brewers, Tom Ricketts of the Chicago Cubs, Cohen Private Ventures linked to the New York Mets, and Marc Lasry, the former proprietor of the Milwaukee Bucks.
Recent discussions emerged following stalled talks between the PGA Tour and LIV Golf, backed by the Saudi Arabian Public Investment Fund. As per ESPN’s reports, an impending agreement between the PGA Tour and SSG is foreseeable.
Moreover, there’s growing optimism surrounding a potential deal involving PIF and LIV Golf. Should these negotiations come to fruition, the golf sector stands to benefit from an injection of up to $7bn.
LIV Golf has emerged as a formidable contender to the PGA Tour since its establishment. Bolstered by considerable funds from PIF, LIV Golf has successfully lured some of golf’s premier talents, such as Phil Mickelson.
Recently, in a calculated maneuver seemingly designed to hasten negotiations, LIV Golf extended a $300m offer to Jon Rahm, a prominent figure in golf and previously a vocal adversary of LIV.
FSG’s foray into golf follows their acquisition of a Boston-centric franchise for renowned players Tiger Woods and Rory McIlroy, for the upcoming Tmrw Golf League launching in 2025. Moreover, FSG’s subsidiary, Fenway Sports Management, has forged a commercial alliance with the LPGA, the principal authority for women’s professional golf in North America.
According to the ECHO, FSG is intensifying its expansion efforts, eyeing an NBA team in Las Vegas in the forthcoming three to five years. Concurrently, FSG has expressed a steadfast commitment to retaining ownership of Liverpool and has explicitly stated a disinterest in acquiring other football clubs as part of any multi-team ownership initiative.
Thought
FSG boasts a broad and varied portfolio, which benefits Liverpool due to its affiliation with a group possessing extensive expertise.
The golf agreement might not have a direct effect on the Reds. However, it remains intriguing to observe FSG’s future endeavors. Notably, their potential involvement in the NBA presents an exciting prospect.
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