As we have been reporting, the PGA Tour struck a deal with the consortium known as Strategic Sports Group (SSG) to found PGA Tour Enterprises in January and disclosed the member of the venture’s board of directors earlier this month. The PGA Tour has now confirmed a piece in the New York Times that named some of the individual investors behind PGA Tour Enterprises.
Among these investors are NBA player LeBron James and the skier Lindsey Vonn, as well as the actors Arnold Schwarzenegger and Chris Pratt and the rapper Drake.
James has a stake of his own in SSG, but his investment here forms part of Main Street Advisors’ SSG stake.
Through PGA Tour Enterprises, about 200 PGA Tour players will be offered shares of $1.5 billion in equity in the company in the form of grants that vest over time and are conferred on the basis of career accomplishments, recent achievements, future participation, future services and tour membership status.
