Billionaire Steve Cohen, owner of the New York Mets, is entering a new league of sports investment with a hefty swing. Cohen is part of a selective sports investment group positioning themselves to infuse a colossal sum of $3 billion into the PGA Tour’s freshly minted commercial arm. This move makes a solid play as golf’s prestige circuit aims to fortify its business interests against rising competition.
Amidst a field of business titans, Cohen has linked up with Strategic Sports Group, led by the formidable Fenway Sports Group—home to an empire that includes some of sports’ most iconic names. With their vast portfolio of sporting teams, including Liverpool Football Club and the Boston Red Sox, Fenway’s leadership stands at the forefront of this strategic drive into golf’s greens.
The hefty investment, rumored to be up to $3 billion, undoubtedly eyes a lucrative minority stake in PGA Tour Enterprises. This commercial venture stems from the PGA Tour’s merger discussions with LIV Golf, which began stirring the pot last summer.
LIV Golf—golf’s controversial newcomer backed by Saudi Arabia’s sovereign wealth—is reshaping the playing field by luring away preeminent talent from the PGA Tour’s storied fairways. The presence of high-profile golfers under LIV Golf’s brand challenges the traditional guard and garners a mixed reception due to the circuit’s funding origins.
The potential alliance of the PGA Tour with LIV Golf raised eyebrows last year, promising a return of marquee names to the forefront. Despite political headwinds challenging the merger, the PGA Tour’s proactive search for alternative financing solutions seems to have landed a hole-in-one with the anticipated investment from Strategic Sports Group.
Across town, Cohen is simultaneously placing his bets closer to home with a visionary pursuit to unlock a casino license for New York’s Mets stadium complex. His grand vision for an $8 billion resort, “Metropolitan Park,” aims to revolutionize Queens’ Willets Point into a world-class nexus of entertainment and gaming.
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