Lebron James, Lindsey Vonn, and Drake are among the $3 billion group of investors in the newly formed for-profit PGA Tour company.
Jacques Mirco Jacques Mirco has been playing golf since he was five years old.
Although he has yet to score a single goal, he earned a master’s degree in sports journalism from St. Bonaventure University.
His two greatest players on the planet have invested significant amounts of money into his PGA Tour.
Los Angeles Lakers star LeBron James and hit 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 touring.
The New York Times first reported the news. “Golf can be more than just a sport,” Drake told the New York Times’ Dealbook Newsletter.
My best childhood memories are playing golf with his uncle. Investing in a team is one thing, but helping reinvent one of the biggest leagues in the world is a great opportunity and I’m excited to be a part of it.
According to the New York Times, James and Drake will serve as “strategic investors” providing additional funding and will also use their marketing power to expand the tour’s audience.
Their investment in the PGA Tour is not the first time celebrities have invested in the sport. James owns minority stakes in the Boston Red Sox, Liverpool,
Pittsburgh Penguins and AC Milan. Drake also invested in Milan, one of Italy’s most successful soccer clubs.
Interestingly, James joined Fenway Sports Group as an associate in 2021, which explains why he owns a stake in each FSG team.
In addition, former world-class skier Tiger Woods, Lindsey Vonn, is also reportedly part of the group investing in the new PGA Tour Enterprises.
She was joined by the Terminator himself, Arnold Schwarzenegger and Chris Pratt, as well as other celebrities who are invested in the sport.
SSG creates promotions for her PGA Tour players. This will also help fund the next five years of award-winning tournaments.
momBut the ultimate goal of every new investor is to drive fan engagement and growth of the sport. This is something that anyone can give up.