The two greatest names on earth are invested a large amount of capital To the PGA Tour.
Los Angeles Lakers’ LeBron James and best-selling artist Drake are part of Strategic Sports Group (SSG), a consortium led by Fenway Sports Group (FSG) that will invest up to $3 billion in the tour. . new york times first reported the news.
“Golf can be more than just a sport,” Drake said. New York Times’ DealBook Newsletter.
“My best childhood memories are going to the golf course with my uncle. Investing in a team is tough, but being able to help reimagine the world’s biggest league is a great opportunity and I’m thrilled to be a part of it. I’m excited about it.”
James and Drake are believed to be “strategic investors” providing additional funding and using their marketing influence to expand the tour’s audience. new york times.
The PGA Tour investment is not the first time that both celebrities have invested in sports.
James owns minority stakes in the Boston Red Sox, Liverpool FC, Pittsburgh Penguins, and AC Milan. Drake is also an investor in AC Milan, one of Italy’s most successful soccer clubs.
Interestingly, James joined Fenway Sports Group as a partner in 2021, which explains why he has a stake in each of FSG’s teams.
However, it’s unclear how much James and Drake each contributed to SSG.
Nevertheless, SSG plans to issue stock for PGA Tour players. It will also help secure funding for tournament prize money for the next five years.
Having James and Drake on board with this effort will certainly help their touring efforts over the next few years.
Jack Mirko is a golf staff writer for SB Nation’s Playing Through.Be sure to check it out @_PlayingThrough Cover more golf. You can follow him on Twitter @jack_milko In the same way.
