Who Is the $5.1B Mastermind Behind PGA Tour’s Latest Investment Rumors?

The unexpected $3 billion merger that shocked the world has created much buzz since its announcement. However, interestingly enough the merger hasn’t been officially finalized. According to internal sources, the date of 31st December which was finalized for its conception will be passed over.

There are a number of reasons why there could be a perpetual delay in finalizing the merger. First is the intervention of the Senate which are unhappy with this new business deal. Then reportedly the parties involved are not satisfied with the terms of the framework agreement. While LIV Golf is unhappy with less power in the agreement, Jay Monahan’s tour is getting interest from other potential investors.

Who are the potential new investors of the PGA Tour?

On Monday in the presence of Rory McIlroy, Fenway Sports Group Chairman, Tom Werner said “We confirm that we’ve had conversations, and will decide the direction the tour goes.” Tom told CNBC’s Scott Wapner during “Halftime Report.” Reportedly Fenway, which already owns the MLB’s Boston Red Sox and soccer team Liverpool FC, could offer a lucrative deal that could leave behind LIV’s offer. 

Their boss John Henry is on the Forbes list of richest people. Henry has a net worth of $5.1 billion. He and Tom Werner, his business partner, bought the Boston Red Sox in 2002 for $380 million. In 2013 Henry also bought the newspaper Boston Globe for $70 million. He also holds equity in Premier League soccer team Liverpool FC. 

Increasing his footing in British sports, he has also invested in New England Sports Network as well as NASCAR’s Roush Fenway Racing. With a good amount of revenue generated from these ventures, it is no surprise that Fenway Sports Group would like to try their luck in golf as well.

The merger which shocked the world and has been held in secrecy still isn’t sitting well with both leagues who want major power in the deal. But with better options, Jay Monahan could take a detour.

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Rory McIlroy is also interested in the new deal

When inquired about a renewed rift between the LIV Golf and PGA Tour McIlroy told CNBC on Monday “I feel like we’ve got a fractured competitive landscape right now,”. “But hopefully when this is all said and done, I sincerely hope the PIF is involved and we can bring the game of golf back together.”

McIlroy has been quite brutal and blunt in his criticism of LIV Golf from the very beginning. And if a better offer comes their way it is only given that McIlroy will try to get the Tour’s interest towards that.

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