PGA Tour Rejects Endeavor's Investment Offer and Strategic Partnership Proposal

Endeavor, parent company of UFC and WWE, extended a multiyear deal offering $25 million per year to lead a group that would acquire less than 10% of PGA investment vehicle; PGA Tour's rejection leaves investment and strategic partnership prospects with Saudi's Public Investment Fund undefined.

• Endeavor, a company that owns UFC and WWE, had its offer to invest in and form a strategic partnership with the PGA Tour rejected; the company's president confirmed they would not be investing at any level.
• The rejected proposal included an expansion of Endeavor's existing work with the PGA Tour, which saw the company involved in selling commercial rights and managing tournaments.
• Endeavor reportedly proposed a multiyear deal to pay $25 million annually to lead a group holding no more than 10% of a PGA investment vehicle, funded through TKO Group Holdings.
• The rejection of Endeavor's offer leaves the future of the PGA Tour's framework agreement with the Saudi-backed LIV Golf and the Saudi Public Investment Fund (PIF) undefined; it's unknown if the rejection was due to PIF intervention.
• Other investment entities, such as Fenway Sports Group, are also reportedly interested in investing in the PGA Tour; Fenway owns Major League Baseball's Boston Red Sox, the National Hockey League's Pittsburgh Penguins, and the English Premier League's Liverpool FC.

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