The PGA Tour received a $3 billion investment from Strategic Sports Group, an investment firm featuring American executives and owners of professional sports franchises.
The partnership between the two is separate from the commercial venture framework the PGA Tour signed eight months ago with the Saudi-backed LIV Golf.
The deal calls for a new entity, PGA Tour Enterprises, to be set up as a for-profit venture that will offer players more than $1.5 billion in equity ownership to compete with the high bonuses paid to star golfers who joined the LIV tour.
