Liverpool chairman Tom Werner reveals $3 billion global deal plan that has FSG 'all excited'

Tom Werner has explained Fenway Sports Group’s (FSG) plan for their latest investment.

Liverpool’s owners expanded their portfolio earlier this year when they took a major step into golf. FSG spearheaded a consortium named the Strategic Sports Group - which includes several other sports team owners - to commit up to $3 billion to the PGA Tour.

The deal came against the backdrop of the PGA failing to come to an agreement with the Saudi Arabia Public Investment Fund-backed LIV Golf. A new commercial arm PGA Tour Enterprises was created and its aim is to further commercialise the sport while around 200 players have become equity partners.

Along with Liverpool, FSG own MLB team the Boston Red Sox, NHL outfit the Pittsburgh Penguins and NASCAR’s RFK Racing. And FSG chairman Werner and principal owner John Henry saw an opportunity in the PGA - and are excited for the future.

Werner, speaking at the Bloomberg Invest Summit in New York, Werner said: “What made us all excited is that this is really a global sport. When you think about $102 billion spent in golf, that's in the United States and, of course, there's a bigger number worldwide.

“The structure of golf a couple of years ago was non-profit and the players were independent contractors. Now, the players are owners. They have equity in the league and this SSG and Fenway Sports Group are really investing in the commercial growth of the game.

“Of course, it all starts with what can create a greater fan experience. We were grateful we were selected because it was a very competitive situation to invest in the new structure. We think the operation experience we have in sports can benefit the players and be a resource.

“We're going to be listening to our fans. One idea we've been talking about is when you think about the experience of going to an event on the tour, we're trying to make it a must-see. Somebody at the PGA was looking at Louisville. The Kentucky Derby event lasts around two minutes but around it, they have a week-long festival. What we're talking about is creating experiences at PGA Tour events that make them more attractive.”

Mark Attanasio, part of the Strategic Sports Group and owners of the MLB’s Milwaukee Brewers, added: “I was sitting on a committee with John and Tom in Major League Baseball and they were talking about an opportunity here. I didn't realise what they were working with, they just talked about some of the challenges. I said to John: To me, the more challenges, the more opportunity.

“The easy investments don't create a lot of opportunity. The more difficult ones do. John and Tom called me a few days later and said: 'Were you really serious how you looked at that, would you invest in the PGA?' I said 100% of course and I still didn't know what they were working on. They then let me into the tent and it's extremely exciting.”