HILTON HEAD ISLAND, S.C. – An initial $1.5 billion investment in the circuit's new commercial arm, PGA Tour Enterprises, includes specialized expertise from Strategic Sports Group, a consortium of sports business leaders led by Fenway Sports. A body of knowledge was also promised.
“We welcome key members of SSG to our leadership team,” Tour Commissioner Jay Monahan said on March 6. “We welcome key members of SSG to our leadership team. “He will provide a wealth of knowledge for future PGA Tour opportunities.” Establishment of the PGA Tour Enterprises Board of Directors.
Its board met for nearly four hours at RBC Heritage on Tuesday, according to various sources. There was also a Player Advisory Council meeting with former Boston Red Sox GM Theo Epstein, who joined Fenway Sports as a senior advisor in February.
One source described the meeting between the 16-athlete PAC and Epstein as a “meet and greet.”
PGA Tour Enterprise's board of directors includes Monaghan, six player directors (Tiger Woods, Patrick Cantlay, Adam Scott, Webb Simpson, Jordan Spieth, and Peter Malnati), independent director Joe Gorder, and four SSG directors (John Henry, Arthur Blank, Andrew Cohen and Sam Kennedy) and supervisory liaison Joe Ogilvie.
The partnership with SSG was announced on January 31 and includes “up to $3 billion in strategic investments,” much of which will go toward player equity in PGA Tour Enterprises.
Board members met with PIF President Yassir Al-Rumayan in the Bahamas last month, and speaking at The Players Championship, Monaghan said negotiations with the fund were “accelerating” but that there were “important matters that still need to be resolved”. There are some issues,” he added. I'll get through it. “
