Liverpool owners lining up shock investment in new sport and it could hit Newcastle’s Saudi chiefs in pocket
FENWAY SPORTS GROUP are reportedly interested in buying a minority stake in the PGA Tour.
The Liverpool owners are set to rival Saudi Arabia’s Public Investment Fund with their investment.
According to Bloomberg, FSG are seen as an alternative to a pending deal with the PIF.
There is said to be opposition in the USA to the PIF deal, despite PGA representatives claiming they would only be a minority investor.
The PIF also own Newcastle and have overseen the club’s transformation since their takeover in October 2021.
Newcastle secured a return to the Champions League last season with their highest league finish for 20 years.
As for the Liverpool owners, FSG have appeared keen to invest in golf recently.
As well as purchasing a Boston-based franchise in the Technology Golf League, FSG’s marketing arm – Fenway Sports Management – recently partnered with the LPGA.
However, the PGA Tour have already done business with Saudi Arabia.
Back in June, the tour agreed to a merger with Saudi-backed LIV Golf and the DP World Tour.
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An additional report from The Boston Globe claims there are several rival bidders, though, with FSG one of six in North America alone.
In response, a statement from the PGA Tour explained: “Throughout 2023, the PGA TOUR has demonstrated its strength, reach and value as an enterprise.
“Our focus continues to be on finalising an agreement with the Public Investment Fund and the DP World Tour, however, our negotiations have resulted in unsolicited interest from other investors.”