Liverpool principal owner John Henry has continued his discussions with the Saudi Arabian Public Investment Fund (PIF) regarding a recent investment in Fenway Sports Group (FSG).
FSG’s impressive portfolio includes the Liverpool football team, the MLB’s Boston Red Sox, the NHL’s Pittsburgh Penguins, and NASCAR’s RFK Racing.
Last year, the Boston-based group expanded into the golf industry. They purchased a franchise in the newly-formed Technology Golf League, which is set to begin in January 2025 after a one-year delay.
In January, FSG furthered their involvement in golf by investing in the PGA Tour. They led a consortium called Strategic Sports Group, which comprises notable sports owners like Thomas Ricketts (Chicago Cubs) and Wyc Grousbeck (Boston Celtics).
This $1.5 billion investment, potentially increasing to $3 billion, formed PGA Tour Enterprises amid the split in golf caused by the Saudi-funded tour LIV.
A number of top golfers, such as John Rahm, Phil Mickelson, and Brooks Koepka, left the PGA Tour for LIV, igniting a conflict within the sport.
Negotiations for a merger deal have been ongoing for the past year without reaching a conclusion.
According to a statement, Henry was among seven representatives from PGA Tour Enterprises, including Tiger Woods and Rory McIlroy, to hold face-to-face negotiations with PIF governor Yasir Al-Rumayyan in New York.
The PGA Tour Enterprises Transaction Subcommittee said in a joint statement: “Representatives from the PGA TOUR Enterprises Transaction Subcommittee and the PIF have been meeting multiple times weekly to work through potential deal terms and come to a shared vision on the future of professional golf.
“On Friday evening, an in-person session in New York City included the entire Transaction Subcommittee and PIF Governor Yasir Al-Rumayyan and his team, where more progress was made.”
On the discussions, McIlroy said: “We remain committed to these negotiations, which require working through complex considerations to best position golf for global growth,” the Transaction Subcommittee said in the statement.
“We want to get this right, and we are approaching discussions with careful consideration for our players, our fans, our partners and the game’s future.”
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