Sports

Kravis-Backed ‘Friends of Golf’ Group Drops PGA Pursuit

Fenway, Boehly’s Eldridge and Liberty Media remain in the mix
Suitors competing to inject at least $1 billion into entity

Henry Kravis
Photographer: Jeenah Moon/Bloomberg

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By Gillian Tan

November 30, 2023 at 6:33 PM UTC

A consortium dubbed “Friends of Golf” featuring billionaires Henry Kravis and George Roberts has dropped its pursuit of a stake in a new entity being created by the PGA Tour and Saudi Arabia’s Public Investment Fund, according to people with knowledge of the matter.

Other investors still in the running to strike a deal include billionaire Todd Boehly’s Eldridge Industries, a consortium led by Fenway Sports Group, investment firm Acorn Growth Cos., and Liberty Media Corp., the owner of F1, said the people, all of whom requested anonymity discussing confidential information.