PGA TOUR Launches PGA TOUR Enterprises, New Program that Transforms Players into Equity Holders
Friday, February 2nd, 2024
The PGA TOUR – in partnership with Strategic Sports Group (SSG) –announced Wednesday the launch of PGA TOUR Enterprises, a new commercial venture under the PGA TOUR’s control, and in a first-of-its kind program, nearly 200 PGA TOUR members will have the opportunity to become equity holders in this new company. PGA TOUR Enterprises is also considering participation by future PGA TOUR players that would allow them to benefit from the business’s commercial growth. Under this program, players would collectively access over $1.5 billion in equity in PGA TOUR Enterprises. These grants – which vest over time – will be based on career accomplishments, recent achievements, future participation and services and PGA TOUR membership status, and grants are only available to qualified PGA TOUR players.
The transaction announced today allows for a co-investment from the Public Investment Fund (PIF) in the future, subject to all necessary regulatory approvals.
“Today marks an important moment for the PGA TOUR and fans of golf across the world,” said Jay Monahan, Commissioner of the PGA TOUR and CEO of PGA TOUR Enterprises. “By making PGA TOUR members owners of their league, we strengthen the collective investment of our players in the success of the PGA TOUR. Fans win when we all work to deliver the best in sports entertainment and return the focus to the incredible – and unmatched – competitive atmosphere created by our players, tournaments and partners. And partnering with SSG – a group with extensive experience and investment across sports, media and entertainment – will enhance our organization’s ability to make the sport more rewarding for players, tournaments, fans and partners.”
“We were proud to vote in unanimous support of this…
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