Liverpool owners FSG edge closer to $3 billion deal as negotiations with Newcastle United PIF continue

Liverpool owners Fenway Sports Group have made 'meaningful progress' in their pursuit of purchasing a minority stake in the PGA Tour.

The Boston-based group are aiming to expand their already impressive portfolio that includes the Reds, MLB team the Boston Red Sox and NHL outfit the Pittsburgh Penguins.

Last year, FSG took their first step into golf by purchasing a franchise - now named Boston Common - in the newly-formed TGL that is spearheaded by Tiger Woods and Rory McIlroy.

Since then, FSG have aimed to take advantage of the wrangling between the PGA and the Saudi Arabian Public Investment Fund-backed LIV Golf. LIV proved a great disruptor of the game as they prised major winners including Phil Mickelson, Brooks Koepka and most recently John Rahm to join the tour.

On 6 June, the PGA, LIV and the DP World Tour came to a framework agreement, although negotiations were unable to be thrashed out by the New Year's Eve deadline. As a result, an extension has been given.

But FSG's agreement is said to be close. In the latter months of 2023, FSG went into partnership with a number of businessmen and investment funds - including Amazon founder Jeff Bezos' brother Mark - to former the Strategic Sports Group. It has been suggested that the deal could be worth up to $3 billion, per ESPN.

In a memo sent out on 31 December, PGA tour commissioner Jay Monahan said: "As you know, the [PGA Tour policy] board unanimously directed management to pursue exclusive negotiations with SSG. I am pleased to report that we have made meaningful progress and have provided SSG with the due diligence information they requested.

"As we move forward in our discussions, we are focused on the finalisation of terms and drafts of necessary documents. We also continue our active and productive conversations with PIF and the DP World Tour.

"While we had initially set a deadline of December 31, 2023 to reach an agreement, we are working to extend our negotiations into n:ext year based on the progress we have made to date. Our goal for 2024 is to reach agreements with SSG, PIF and the DP World Tour, bringing them on board as minority co-investors in PGA Tour Enterprises."

Speaking to the Boston Globe in November, Liverpool and FSG chairman Tom Werner said “There are a number of people who have raised their hands to say that they would be interested in helping the new PGA, and it’s really up to the players and the board to decide the direction they want to go in. We’ve said that we think that we can help them, but it’s really up to them to decide the path.

“We’ve always thought golf is a growth sport and we feel we have competency in hospitality, in ticketing, creating enthusiasm for the venue that you come to, sponsorship, relations with the fans — these are areas that we have expertise in.

“There’s a narrative that we’re taking our eye off the ball. Our focus is obviously on the businesses that we are working in. If this happens, it happens, but it’s not going to divert our attention.”