The PGA Tour has been battling through a lot of turmoil behind the scenes, particularly since the arrival of the Saudi-backed LIV Golf exposed many of the preeminent golf tour's flaws.
Some players jumped ship, while some of the ones who stayed called for changes in the organization's structure. The pressure from these developments triggered a merger between the PGA Tour and the Saudi Public Investment Fund — though the details and finalization of that deal are still up in the air.
However, amid the uncertainty of that deal, the PGA Tour secured some more funding. In January, the golf tour secured a $3 billion investment led by Fenway Sports Group and several owners of top sports franchises.
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The initial reports by the likes of Sportico said that the the Strategic Sports Group featured numerous owners, including the likes of Steve Cohen, who owns the MLB's New York Mets; Arthur Blank, who owns the NFL's Atlanta Falcons; and Wyc Grousbeck, who owns the NBA's Boston Celtics.
However, The New York Times' DealBook reported on Monday, Mar. 4 that a pair of more prominent names in the sports and music world are also making key investments: NBA superstar LeBron James and iconic rapper Drake.
The report said that the two are considered "strategic investors" as they add more capital to the investment and also will be used for their ability to market the tour.
James reportedly met in person with PGA Tour commissioner Jay Monahan and Fenway Sports Group chairman Tom Werner to discuss how he could help expand the audience of the tour.
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The NBA star, who over the weekend became the first NBA player to pass 40,000 points scored, has had a stake in Fenway Sports Group since 2021, which has investments in teams like the MLB's Boston Red Sox and English Premiere League's Liverpool.
And the two aren't the only big name investors who DealBook revealed. The report indicated that James' business partner Maverick Carter and agent Rich Paul are also part of the investor group, together with Guardians of the Galaxy star Chris Pratt.
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