Liverpool owners Fenway Sports Group have been chosen to enter final negotiations to become a co-investor in golf's PGA Tour.
According to Bloomberg, an FSG-led consortium named Strategic Sports Group has been chosen by unanimous decision to proceed to final negotiations to become a co-investor as the PGA Tour, although talks continue with the PGA Tour and the Saudi Arabian Public Investment Fund (PIF), with whom the PGA had agreed a framework over a merger, with the deadline for that at the end of this month.
FSG were reported last month to be one of the main contenders to invest in the PGA Tour at a time when it seemed the prospect of a deal between the PGA Tour and the PIF, the sovereign wealth fund of Saudi Arabia and owners of Newcastle United, were at an impasse. Those talks continue to take place with both parties and the PGA could extend the deadline with the PIF should it be required. The possibility of all parties coming together on a deal was also mooted.
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Speaking last month to CNBC, Liverpool and FSG chairman Tom Werner confirmed that there had been discussions but would not be drawn further. Appearing alongside golf superstar Rory McIlroy, Werner said: “We don't really like to talk about things that are in discussion. Really, we're here to talk about tomorrow’s golf and this team and anything we can do to help Rory and the PGA, we're happy to offer our support.
“We just want to offer our support creatively to any of the ideas that are welling up. It's really up to the players to decide on the direction they want to go. I confirm we have had conversations.”
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