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On Dec. 10, the PGA Tour’s coverage board introduced it had agreed to advance discussions with the Strategic Sports activities Group (SSG) – an out of doors funding group comprised of U.S.-based skilled sports activities workforce traders. This, in fact, got here six months after the PGA Tour, DP World and Saudi Arabia’s Public Funding Fund entered a surprising framework settlement to create a for-profit entity referred to as PGA Tour Enterprises.
On New Yr’s Eve, PGA Tour commissioner Jay Monahan up to date gamers on the “significant progress” made in negotiations with the SSG and that whereas the framework settlement deadline of Dec. 31 with the PIF was missed, discussions with the Saudi-backed fund remained “energetic and productive.”
If each the SSG and PIF are concerned as a lot as $7 billion could also be in play, based on ESPN. Each excursions, the SSG and PIF have an unprecedented alternative to reshape skilled golf as we all know it. The selections revamped the following weeks and months might see the sport propelled into the longer term. But when agreements aren’t reached and the division on the professional degree continues, the game all of us love might shortly turn into tennis, the place solely the majors obtain in-depth protection whereas the week-to-week motion on tour is relegated to a footnote.
From the consortium of SSG traders to the PIF and PGA Tour executives concerned, get to know the individuals who could have a outstanding place in skilled golf’s future.
MORE: Breaking down the impression of extending PGA Tour, Saudi PIF and investor negotiations
Milwaukee Brewers principal proprietor Mark Attanasio stands within the dugout previous to the sport towards the New York Mets at American Household Area. (Photograph: Jeff Hanisch-USA TODAY Sports activities)
Attanasio, 66, is the co-founder and managing associate of Crescent Capital Group, and extra notably has been chairman and proprietor of the Milwaukee Brewers (MLB) since 2005. He additionally grew to become a co-majority shareholder of the Norwich Metropolis Soccer Membership in England in 2023. Throughout his time as an govt, the Brewers have made the playoffs seven occasions however have by no means superior to the World Collection.
Atlanta Falcons proprietor Arthur Clean walks of the sector towards the Tennessee Titans throughout the second half at Nissan Stadium. (Photograph: Steve Roberts-USA TODAY Sports activities)
Clean, 81, is the co-founder of The House Depot and has been the proprietor of the Atlanta Falcons (NFL) since 2002 and Atlanta United (MLS) since 2017. The Falcons have made the playoffs eight occasions and superior to the Tremendous Bowl in 2016. Atlanta United received the MLS Cup in 2018 and the U.S. Open Cup in 2019.
Gerry Cardinale on stage on the 2022 New York Instances DealBook on November 30, 2022 in New York Metropolis. (Photograph by Thos Robinson/Getty Photos)
Cardinale is the Managing Associate and CEO of RedBird Capital Companions, a personal fairness funding agency that has led over $1. 6 billion of investments in communications, sports activities, leisure and hospitality, vitality and industrial providers and monetary and enterprise providers since 2014. Earlier than RedBird, he spent 20 years at Goldman Sachs.
Cardinale helped create the New York Yankees (MLB) YES Community, and in 2022 RedBird acquired Italian soccer giants AC Milan. The corporate additionally owns French soccer membership Toulouse FC. RedBird has additionally invested in Fenway Sports activities Group.
New York Mets proprietor Steve Cohen on the sector earlier than a sport towards the Cincinnati Reds at Citi Area. (Photograph: Brad Penner-USA TODAY Sports activities)
Cohen Non-public Ventures invests on behalf of Steve Cohen, who has been the proprietor of the New York Mets (MLB) since 2020. Cohen additionally has ties to golf after his buy of the New York-based TGL workforce by way of Cohen Non-public Ventures.
(L-R) Tom Werner, Jennifer Ashton, Linda Pizzuti Henry and John W. Henry attend the Cannes Movie Pageant Air Mail Celebration at Resort du Cap-Eden-Roc on Could 23, 2023 in Cap d’Antibes, France. (Photograph by Victor Boyko/Getty Photos for Air Mail/Warner Brothers Discovery)
Fenway Sports activities Group, based in 2001 beneath a special identify, is a holding firm that runs RFK Racing (NASCAR), the Boston Purple Sox (MLB), Liverpool F.C. (Premier League), the Pittsburgh Penguins (NHL) and Boston Frequent Golf (TGL). Henry, 74, is the principal proprietor of Liverpool, the Purple Sox, the Boston Globe, and is co-owner of RFK Racing.
FSG was based by Henry, Tom Werner, Les Otten, the New York Instances Firm and different traders. Beneath Fenway’s possession, RFK Racing has received eight drivers’ championships in numerous circuits, the Purple Sox has received the World Collection 4 occasions and Liverpool has received each home and worldwide trophies.
Michael Gordon and Linda Pizzuti Henry pose with the trophy after the UEFA Champions League Remaining between Tottenham Hotspur and Liverpool at Estadio Wanda Metropolitano on June 01, 2019 in Madrid, Spain. (Photograph by Matthias Hangst/Getty Photos)
Gordon is the President of Fenway Sports activities Group and was made a associate in 2001. In accordance with the group’s web site, Gordon has been primarily answerable for managing the operations of Liverpool FC. Throughout Fenway’s possession the membership has received the Premier League (2019-20), the FA Cup (2021-22), the EFL Cup (2021-22) and most notably the European Champions League (2018-19).
Fenway Sports activities Group chairman Tom Werner (left) and Pittsburgh Penguins president Kevin Acklin (proper) congratulate defenseman Kris Letang (58) earlier than Letang performs in his one thousandth profession NHL sport towards the Philadelphia Flyers at PPG Paints Area. The Penguins received 4-2. (Photograph: Charles LeClaire-USA TODAY Sports activities)
Werner, 73, presently serves because the chairman of each Liverpool and the Boston Purple Sox. Earlier than his work with FSG, Werner was a tv producer whose roster of packages included The Cosby Present, Roseanne, third Rock from the Solar and That ’70s Present.
Boston Celtics proprietor Wyc Grousbeck factors to his championship ring from the sidelines throughout the first quarter of the sport towards the Philadelphia 76ers at Wells Fargo Heart. (Photograph: Invoice Streicher-USA TODAY Sports activities)
Wycliffe “Wyc” Grousbeck, 62, has been the bulk proprietor of the Boston Celtics (NBA) since 2002. In that point the workforce has received one NBA title, three convention titles and has made 18 playoff appearances.
Mark Bezos, brother of Jeff Bezos, receives his official astronaut wings after launching on Blue Origin’s New Shepard rocket on Tuesday, July 20, 2021.
HighPost Capital is an funding agency shaped in 2019 by David Moross and Mark Bezos. The agency has invested in a footwear firm, digital well being and health platform, a YouTube content material proprietor and cereal firm.
Milwaukee Bucks proprietor Marc Lasry seems on previous to the sport towards the Orlando Magic at Fiserv Discussion board. (Photograph: Jeff Hanisch-USA TODAY Sports activities)
Lasry, 64, is the co-founder and Chief Govt Officer of Avenue Capital Group and was a co-owner of the Milwaukee Bucks (NBA) from 2014 to 2023. The Bucks received the NBA title in 2021.
Cubs proprietor Tom Ricketts on the sector earlier than the sport between the Chicago Cubs and the Milwaukee Brewers at Wrigley Area. (Photograph: David Banks-USA TODAY Sports activities)
Ricketts, 60, has been the Chairman of the Chicago Cubs since 2009 in addition to the Chairman, co-founder and former CEO of Incapital. Tom is considered one of 4 kids of TD Ameritrade founder J. Joseph Ricketts. The Cubs received the World Collection for the primary time in 108 years in 2016.
PGA Tour Commissioner Jay Monahan talks with the media throughout a press convention at East Lake Golf Membership forward of the 2023 Tour Championship. (Photograph: John David Mercer-USA TODAY Sports activities)
Monahan, 53, grew to become the fourth Commissioner of the PGA Tour in January 2017. Earlier than his time with the Tour, Monahan labored at IMG and helped develop the PGA Tour’s Deutsche Financial institution Championship at TPC Boston, the place he served because the match’s first director. Monahan grew to become the chief director of the Tour’s flagship occasion, the Gamers Championship, in 2008 and was named the Tour’s Senior Vice President for Enterprise Growth in 2010. Three years later he was promoted to Govt Vice President and Chief Advertising Officer. He then served as Deputy Commissioner for 2 years earlier than taking on the position of Chief Working Officer.
He has additionally labored in gross sales for the Fenway Sports activities Group.
If a definitive settlement is reached – and accepted by the PGA Tour Coverage Board – the Tour would lead the brand new business entity with the aim of unifying golf. The PGA Tour would retain management of PGA Tour Enterprises, whereas the SSG and PIF can be minority homeowners. PGA Tour Enterprises shall be led by a board of administrators, nearly all of which shall be appointed by the Tour. The unique plan indicated Monahan would function CEO.
PGA Tour Coverage Board member Jimmy Dunne testifies throughout a Senate Homeland Safety Subcommittee on Investigations listening to on Capitol Hill July 11, 2023 in Washington, DC. (Photograph by Drew Angerer/Getty Photos)
Dunne is an influence dealer within the monetary world, president of famed Seminole Golf Membership and has been a member of the PGA Tour’s coverage board since 2022. He was a key participant in talks with the governor of Saudi Arabia’s Public Funding Fund, Yasir Al-Rumayyan, to create the framework settlement for a deal between the Tour, DP World Tour and PIF.
He’s additionally vice chairman and senior managing principal of Piper Sandler, an funding financial institution and monetary providers firm closely concerned in mergers and acquisitions.
Ed Herlihy seems at his subsequent shot on the 14th tee throughout the first spherical of The Alfred Dunhill Hyperlinks Championship at Carnoustie Golf Membership on October 1, 2009 in Carnoustie, Scotland. (Photograph by Ross Kinnaird/Getty Photos
Herlihy is an lawyer and chairman of the PGA Tour coverage board. His profession started as a employees lawyer for the Securities and Trade Fee and he now’s co-chairman of esteemed New York regulation agency Wachtell, Lipton, Rosen and Katz.
Yasir Al-Rumayyan of Saudi Arabia walks to his second shot together with his skilled associate Peter Uihlein of The US on the second gap throughout Day Two of the Alfred Dunhill Hyperlinks Championship on the Championship Hyperlinks at Carnoustie Golf Hyperlinks on October 06, 2023 in St Andrews, Scotland. (Photograph by David Cannon/Getty Photos)
As famous earlier, Al-Rumayyan, 53, is governor of the PIF, the sovereign wealth fund of Saudi Arabia. He has served because the chairman of Newcastle United (Premier League) for the reason that PIF purchased the membership in 2021 and has been the chairman of Saudi Aramco since 2019. A golf fanatic, Al-Rumayyan performed the Alfred Dunhill Hyperlinks Championship beneath the identify of Andrew Waterman in 2023.
Al-Rumayyan was initially slated to be the chairman of the PGA Tour Enterprises board and would additionally be part of the PGA Tour Coverage Board.
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