Business of Sports

Steve Cohen, Marc Lasry Group Set to Invest Billions in PGA Tour

Initial investment from consortium said to be about $3 billion
Deal may not initially include the Saudi-backed LIV Golf

A player hits a tee shot on the 12th hole during the final round of The American Express at Pete Dye Stadium Course in La Quinta, California, on Jan. 21. — A player hits a tee shot on the 12th hole during the final round of The American Express at Pete Dye Stadium Course in La Quinta, California, on Jan. 21.
Photographer: Sean M. Haffey/Getty Images

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By Giles Turner and David Hellier

January 29, 2024 at 6:27 PM UTC

This article is for subscribers only.

The PGA Tour is close to finalizing a historic investment from a US consortium, according to people familiar with the matter.

The initial investment from Strategic Sports Group could be about $3 billion, with an additional tranche from the Saudi Public Investment Fund, the people said, asking not to be named discussing ongoing talks. The deal could value PGA Tour Enterprises — the for-profit entity created to house the Tour’s commercial interests — at about $12 billion, one of the people said.