Fenway Sports Group are part of a consortium that made a significant investment in the PGA Tour.

The Saudi Arabia Public Investment Fund (PIF) has failed in its attempt to join forces in Liverpool owners Fenway Sports Group (FSG) venture.

FSG expanded their portfolio in January 2024 when spearheading a consortium to invest an initial $1.5 billion - potentially rising to $3 billion - in the PGA Tour. The Strategic Sport Group (SSG) is made up of sports team owners including FSG and minority stakeholders RedBird Capital Partners, Arthur Blank (Atlanta Falcons and Atlanta FC), Steven Cohen (New York Mets) and Thomas Ricketts (Chicago Cubs) and created the for-profit entity PGA Tour Enterprises.

SSG took advantage of a fracture in golf to invest. The formations of the PIF-backed LIV saw leading players, including major winners Phil Mickelson, Brooks Koepka and Bryson DeChambeau, make the move before John Rahm followed.

There have been discussions since June 2023 about a merger between the PGA and LIV. Talks have been held, with FSG principal owner John Henry reportedly travelling to Saudi Arabia and the Bahamas to meet with PIF governor Yasir Al-Rumayyan. US President Donald Trump has discussed the matter with both parties at the White House.

The season's first major takes place this week, with the Masters kicking off at Augusta on Thursday. Ahead of the famous tournament, the Guardian reports that the PIF has 'failed in an attempt to persuade the PGA Tour to deliver serious concessions in exchange for a $1.5bn (£1.14bn) investment'.It is suggested that the LIV tour could continue to operate and Al-Rumayyan would become co-chairman of PGA Tour Enterprises alongside Joe Gorder. The PGA deemed 'neither acceptable'.

Speaking at the Players Championship last month, PGA Tour commissioner Jay Monahan said: "We appreciate Yasir's innovative vision, and we can see a future where we welcome him on to our board and work together to move the global game forward. As part of our negotiations, we believe there's room to integrate important aspects of LIV Golf into the PGA Tour platform. We're doing everything that we can to bring the two sides together.

"That said, we will not do so in a way that diminishes the strength of our platform or the very real momentum we have with our fans and our partners. So while we've removed some hurdles, others remain. But like our fans, we still share the same sense of urgency to get to a resolution. Our team is fully committed to reunification. The only deal that we would regret is one that compromises the essence of what makes the game of golf and the PGA Tour so exceptional.”

Who do FSG own?

FSG boast an impressive sports portfolio. They have owned Liverpool since their £300 million takeover in 2010. In their time, eight major trophies have been won while Anfield has been expanded to a 61,000 capacity and £50 million spent on the AXA Training Centre.

Iconic MLB team the Boston Red Sox have been under FSG’s control for the past 23 years, while the firm purchased NHL outfit the Pittsburgh Penguins. FSG also own a 50 per cent stake in RFK Racing and bought the franchise Boston Common Golf in the recently-launched TMRW Golf League.