It’s reported that the US-based business behemoth Endeavor made a very lucrative proposition for a strategic alliance, which the PGA Tour firmly declined.
Many of the most captivating and exciting brands, live events, and storytellers in the world can be found at Endeavor, a multinational sports and entertainment organisation. The company is made up of prominent figures in the industry, such as media, sports, fashion, events, and entertainment agency WME and IMG. Additionally, Endeavor owns a majority stake in TKO Group Holdings, a high-end sports and entertainment business that includes the WWE and UFC.
Additionally, the PGA Tour vehemently rejected the Endeavor plan, according to Mark Shapiro, president and chief operating officer of the business.
“They have officially turned it down,” Shapiro said. “We’re big fans of golf and we’ll continue to champion the PGA Tour, but we’re not going to be an investor at any level.”
It’s unclear if the PGA Tour’s decision — which it hasn’t yet confirmed — is a result of continuous negotiations with Saudi Arabia’s Public Investment Fund.
A final agreement must be reached by December 31 in order for the negotiations to proceed. The PGA Tour Policy Board, which was reorganized to include a majority of player members — including Tiger Woods—must also ratify the contract.
Naturally, Endeavor is not the only organisation interested in partnering with the PGA Tour. The Fenway Sports Group, which also owns the Boston Red Sox, Pittsburgh Penguins of the NHL, and English Premier League team Liverpool, has expressed interest in doing so as well.
