Who is involved in Strategic Sports Group, the new PGA Tour investors? Owner of Red Sox, Mets and more - saldiv (2024)

The PGA Tour is facing a massive influx of money.

Nearly eight months after the proposed framework agreement between the Tour and the Saudi Public Investment Fund was announced at the Canadian Open, the Tour has inked a $3 billion deal with Strategic Sports Group (SSG), a coalition of investors, some of which own historic franchises in North American professional sports and the English Premier League. Negotiations with the PIF are still ongoing.

But who is SSG, a group that appears to have come together specifically for this investment, the largest ever in professional golf?

SSG’s investors have more than 200 years of experience as sports owners across multiple leagues, including MLB, NFL, NBA, NHL and EPL. They will initially invest $1.5 billion in PGA Tour Enterprises, a new company under the control of the PGA Tour.

PGA Tour players will collectively have access to $1.5 billion in stock in the new company. The amount for individual players is based on professional achievements, recent achievements and tour membership status and vests over time.

“By making PGA Tour members the owners of their league, we strengthen our players’ collective investment in the success of the PGA Tour,” said PGA Tour Commissioner Jay Monahan.

The PGA Tour announced last month that it had decided to move forward with negotiations with SSG after evaluating offers from other hedge funds and investment capital firms. Let’s take a look at some of the investors that make up SSG.

John Henry

John Henry is chief executive of Fenway Sports Group, a conglomerate that includes the Boston Red Sox, Liverpool FC, Pittsburgh Penguins, NASCAR’s RFK Racing and TGL’s Boston Common Golf. He is also the manager of the SSG.

Henry began his career in finance trading commodities before managing several successful investment funds. His first venture into sports ownership was the purchase of the Pacific Coast League’s Tucson Turos minor league baseball franchise in 1989. Henry became sole owner of the then-Florida Marlins in 1999, purchasing the team for approximately $158 million.

After selling the Marlins in January 2002, Henry teamed with businessman Tom Werner to purchase the Boston Red Sox. They founded New England Sports Ventures, which became Fenway Sports Group in 2011. Fenway Sports Group purchased Liverpool on October 6, 2010 and assumed majority ownership of the Penguins on December 31, 2021.

During Henry’s tenure as owner, the Red Sox have won four World Series and Liverpool won the English Premier League title in 2020.

Fenway Sports Group has several high-profile investors, including NBA superstar LeBron James and its chief executive Maverick Carter.

Werner, now chairman of Fenway Sports Group, is part of SSG.

Mark Attanasio

Mark Attanasio is the owner of the Milwaukee Brewers. He purchased the Brewers from the family of former MLB commissioner Bud Selig in 2005, a deal worth about $223 million. According to Forbes, the Brewers are worth $1.605 billion as of March 2023.

Attanasio is also co-majority shareholder of Norwich City FC, which plays in the English second division. He is a co-founder and executive officer of Crescent Capital Group, an investment firm with over $40 billion in assets under management, according to the company’s website.

During Attanasio’s tenure with the Brewers, the team made the postseason seven times.

Arthur Blank

Arthur Blank is the owner and chairman of AMB Sports and Entertainment. In 2002, Blank purchased the Falcons for around $545 million. According to Forbes, the Falcons are worth $4.5 billion as of September 2023. The team has reached the playoffs eight times, including a Super Bowl appearance in the 2016 season.

In 2014, Blank acquired MLS franchise Atlanta United FC. The organization became an official MLS team in 2017 and won the MLS Cup in its second season.

Before becoming owner of the Falcons, Blank co-founded The Home Depot in 1978. Home Depot, headquartered in Atlanta, grew into one of the largest hardware stores in the world. Blank retired as co-chair in 2001.

Steve Cohen

Steve Cohen is the owner, chairman and CEO of the New York Mets. He is also chairman and CEO of Point72, one of the leading hedge funds in the world, valued at $30.6 billion according to Forbes.

Cohen was a minority owner of the Mets in 2012. On October 30, 2020, Cohen purchased the Mets from the Wilson family for $2.475 billion, becoming majority owner.

In 1992, Cohen founded his hedge fund SAC Capital Advisors. According to Reuters, it became one of the most successful hedge funds in the world, managing $14 billion. The firm was shut down after Cohen pleaded guilty to insider trading, which resulted in him paying a record $1.8 billion in fines, according to Forbes.

Cohen also owns the New York franchise of the TGL, the upcoming new golf league led by Woods and Rory McIlroy.

Mets vice chairman Andrew Cohen is also part of the SSG.

Wyck Grousbeck

Wyc Grousbeck is the principal owner of the Boston Celtics. Grousbeck led the investors (Boston Basketball Partners LLC) that purchased the Celtics in 2002 for a reported $360 million. According to Forbes, the Celtics are worth $4.7 billion as of October 2023.

During Grousbeck’s tenure, the Celtics won the franchise’s 17th NBA championship in 2008. Boston reached the NBA Finals in 2009 and 2022.

Before owning the Celtics, Grousbeck founded Highland Capital Partners, a Boston-based venture capital firm specializing in technology and life sciences companies.

Marc Lasry

Marc Lasry was co-owner of the Milwaukee Bucks from 2014 to 2023. He became a co-owner of the Bucks after he and American businessman Wes Edens purchased the team from Herb Kohl for $550 million.

During Lasry’s tenure as owner, the Bucks won the 2021 NBA Championship. Lasry sold 25 percent of his ownership stake to Cleveland Browns owner Jimmy Haslam on April 14, 2023. Sources briefed on the discussions reported The athlete The deal was valued at $3.5 billion.

Lasry is CEO of Avenue Capital Group, an international firm focused on debt and equity investments in financially distressed companies. He also owns the TGL franchise based in San Francisco.

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(Photo: Maddie Meyer / Getty Images)