Golfers playing for the PGA Tour have demanded more information about the potential impact of capital tie-ups being discussed, saying they had been “kept entirely in the dark” about the organization’s future.
The PGA has announced plans to merge with Saudi-backed rival LIV Golf but has also recently said it would advance discussions with U.S.-based Strategic Sports Group (SSG) which could come in as a co-investor.
Twenty-one golfers including 2016 Masters champion Danny Willett are seeking full disclosure of the details and analyses of any proposal by prospective partners as well as a meeting with the policy board, according to a December 10 letter sent by law firm Susman Godfrey.
“The Board has recently received multiple bids by prospective capital partners that will potentially transform how the PGA Tour operates, who controls it, and who owns it,” attorney Jacob Buchdahl wrote.
“All but a handful of PGA Tour players have been kept entirely in the dark about the prospective transaction, how it will impact them, and what conflicts of interest may impact the decision-makers.”
The PGA did not immediately reply to a request for comment.
SSG includes Fenway Sports Group, owners of Major League Baseball’s Boston Red Sox, as well as Premier League club Liverpool. It also includes investment firm Cohen Private Ventures, New York Mets owner Steve Cohen’s family office and private equity firm HighPost Capital.
Reuters reported in September that Fenway Sports Group and Endeavor Group were interested in investing in the PGA Tour and any potential transaction would rival PGA’s deal with Saudi Arabia’s Public Investment Fund.
Comments
SHARE