Trading information and logo for Endeavor Group Holdings, Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing Rights
Sept 28 (Reuters) – Sports behemoths Endeavor Group Holdings (EDR.N) and Fenway Sports Group are among U.S. investors exploring investing in the PGA Tour, Bloomberg News reported on Thursday, citing people familiar with the matter.
Any potential transaction could rival a deal that PGA — a premier golf organization — has signed with Saudi Arabia’s Public Investment Fund (PIF), according to the report.
Though some U.S. investors prefer to lead a deal, they could also partner with the PIF, the report said.
PGA and Endeavor did not immediately respond to Reuters’ requests for comment. Fenway declined to comment.
In June, PGA, DP World Tour and Saudi-backed LIV circuit, who had been involved in a bitter fight that split the world of golf, announced an agreement to merge and form one unified commercial entity.
The deal became a hot-button issue in the sporting world, and some U.S. lawmakers turned skeptical.
PGA said on Wednesday its planned merger with LIV and DP World Tour has garnered unsolicited interest from investors but its focus remains on “finalizing” an agreement with the PIF.
Fenway owns Major League Baseball’s Boston Red Sox and Premier League club Liverpool. Endeavor is the majority owner of TKO Group Holdings (TKO.N), a sports and entertainment company comprising Ultimate Fighting Championship and the World Wrestling Entertainment.
Reporting by Niket Nishant in Bengaluru; Editing by Shilpi Majumdar
Our Standards: The Thomson Reuters Trust Principles.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/DLICFH3CKRNCTCYTTD22FV7NZA.jpg&description=Endeavor%2C+Fenway+Sports+weighing+deal+with+PGA+%E2%80%93+Bloomberg+News){kind=link}