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Politics
The Associated Press

PGA Tour strikes a $3 billion deal with a sports owners investment group

PGA Tour PGA Tour Enterprises SSG the PGA Tour PIF Strategic Sports Group Golf Jay Monahan John Henry Patrick Cantlay
Patrick Cantlay finishes the first round at Torrey Pines, at the Farmers Insurance Open golf tournament in San Diego on Jan. 24. He is a member of the PGA Tour board, which unanimously approved a $3 billion deal with an investment group. (Denis Poroy/AP)

PEBBLE BEACH, Calif. — The PGA Tour is getting a $3 billion investment from Strategic Sports Group in a deal that would give players access to more than $1.5 billion as equity owners in the new PGA Tour Enterprises.

The launching of PGA Tour Enterprises, with SSG as a minority partner, comes eight months after the PGA Tour signed a framework agreement with the Saudi backers of LIV Golf for a commercial venture, and ultimately led to private equity groups wanting to join.

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