In January, the PGA Tour completed an historic investment deal with the Strategic Sports Group (SSG), which was said to be worth around $3 billion.
We’ve become used to seeing huge cash injections across a number of sports in recent times, but this isn’t one coming from Saudi Arabia’s Private Investment Fund that bankrolls LIV Golf – so who are SSG?
Who Are FSG?
Let's start with FSG. To put it simply, SSG is a group of considerably wealthy sports owners. The group consists of the current and former owners of at least eight professional sports franchises and is led by Fenway Sports Group (FSG), a global sports, marketing, media, entertainment, and real estate company that owns Boston Red Sox, Liverpool FC and Pittsburgh Penguins.
The key figure at FSG is its cofounder and principal owner, John W Henry, who is also the manager of the the SSG and serves as director of NASCAR’s RFK Racing, of which FSG owns a stake of just under 50 per cent.
“We greatly appreciate the opportunity to join PGA Tour players in this important next phase of the PGA Tour’s evolution,” Henry said on signing the deal. “Our enthusiasm for this new venture stems from a very deep respect for this remarkable game and a firm belief in the expansive growth potential of the PGA Tour.
“We are proud to partner with this historic institution and are eager to work with the PGA Tour and its many members to grow and strengthen the game of golf globally.”
Tom Werner cofounded FSG in 2001, when it was called New England Sports Ventures. The former television executive, who produced hits like That 70's Show and 3rd Rock From The Sun, bought the Boston Red Sox for $380 million a year later.
Werner has been FSG’s chairman since its creation in 2001, a role he also holds at each of FSG’s sports teams, including the Boston Red Sox, Liverpool FC, the Pittsburgh Penguins, and Boston Common Golf.
Two other key members of the FSG team include its president, Mike Gordon, who has been primarily responsible for managing the operations of Liverpool FC, and FSG partner Sam Kennedy, who along with Henry, Arthur Blank and Steve Cohen, will have a say on all aspects of Tour business.
Who Are The SSG's Billionaire Investors?
As well as FSG, a number of other names form part of the SSG – and they too have very deep pockets and billions of dollars of disposable income.
Arthur Blank
Arthur Blank is the billionaire founder of Home Depot and owner of the Atlanta Falcons.
Steve Cohen
Steve Cohen is a hedge fund billionaire and the owner of the New York Mets.
Mark Attanasio
Mark Attanasio is a private equity billionaire and the owner of the Milwaukee Brewers.
Wyc Grousbeck
Wyc Grousbeck is a venture capital billionaire and the owner of the Boston Celtics.
Mark Lasry
Mark Lasry is a private equity billionaire and former owner of the Milwaukee Bucks.
