In a historic move that promises to reshape the landscape of professional golf, Tiger Woods and other PGA Tour players are set to become equity holders in PGA Tour Enterprises,

a newly established for-profit company, following a monumental $3 billion investment from the Strategic Sports Group, according to MSN.

The deal, finalized after months of negotiations, marks a significant moment in sports history as players will now own a share of the PGA Tour, a concept unprecedented in professional sports.

The announcement was made during a conference call featuring key figures such as Tiger Woods, PGA Tour Commissioner Jay Monahan, and Boston Red Sox owner John Henry, according to Golf.com.

The call, described as a pivotal moment by insiders, began with Woods expressing his excitement about the groundbreaking agreement.

“Thank you, SSG, for believing in us and believing in our sport.

Believing in the potential growth that we could enjoy together,” said Woods, recognized as one of the greatest players in PGA Tour history, during the call. “Golf is an amazing sport. It has allowed communities to heal and grow. And we, as a team, are going to offer that according to what we believe is the true compensation and meritocracy that our sport has been built upon for all these years.”

The $3 billion investment from SSG, led by Fenway Sports Group, is a landmark agreement that values PGA Tour Enterprises at $12.3 billion. This infusion of capital is set to benefit not only elite players like Tiger Woods but also close to 200 PGA Tour members who will receive equity shares based on criteria such as career accomplishments, recent achievements, and Tour status.

Monahan emphasized the deal’s significance, stating that the equity grants would vest over time and an additional $600 million in recurring equity grants would be distributed starting in 2025. This move aims to align the interests of players, management, and investors, ensuring stability and growth within the sport.

The SSG consortium, which includes prominent sports figures like Steve Cohen, Arthur Blank, and Marc Lasry, was chosen over more than two dozen entities that submitted investment bids, highlighting the widespread interest in owning a piece of professional golf.

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Source: USA Today