Two of the most important names on the planet have dedicated substantial capital to the PGA Tour.
Lebron James of the Los Angeles Lakers and best-selling artist Drake are part of the Strategic Sports activities Group (SSG), the consortium led by Fenway Sports activities Group (FSG) investing as much as $3 billion into the tour. The New York Occasions first reported the information.
“Golf may be a lot greater than a sport,” Drake mentioned, per The New York Occasions’ DealBook e-newsletter.
“I bear in mind a few of my finest childhood recollections was being on the golf course with my uncle. It’s one factor to put money into a workforce, however to assist reimagine one of many greatest leagues on this planet is an unimaginable alternative, and I’m excited to be part of it.”
James and Drake are believed to be funding extra capital as “strategic traders,” in addition to utilizing their advertising affect to assist widen the tour’s viewers, in accordance with The New York Occasions.
Their funding into the PGA Tour shouldn’t be the primary time both superstar has invested in sports activities.
James has minority possession stakes within the Boston Purple Sox, Liverpool F.C., the Pittsburgh Penguins, and A.C. Milan. Drake has additionally invested in A.C. Milan, one in all Italy’s most profitable soccer golf equipment.
Apparently, James joined Fenway Sports activities Group in 2021 as a associate, which explains why he has stakes in every of FSG’s groups.
However how a lot every James and Drake have dedicated to the SSG is unknown.
However, SSG will create fairness shares for PGA Tour gamers. It’s going to additionally assist safe event prize funding for the subsequent 5 years.
To have James and Drake on board with this endeavor will certainly assist the tour’s efforts within the years to return.
Jack Milko is a golf workers author for SB Nation’s Enjoying Via. Make sure you try @_PlayingThrough for extra golf protection. You’ll be able to comply with him on Twitter @jack_milko as nicely.
