Liverpool owner John Henry faced ‘bidding war’ to complete ‘unique deal’

John Henry has admitted he entered a “bidding war” to get Sports Strategic Group (SSG) involved in the PGA Tour’s new for-profit entity, PGA Tour Enterprises.

Earlier in the year, SSG pledged a staggering $1.5 billion investment in the PGA Tour. This marked Henry’s venture into professional golf, complementing his stakes in football, ice hockey and baseball. Interest was sparked after the Liverpool owner noted the PGA Tour’s plan to partner with Saudi Arabia’s Public Investment Fund (PIF).

In June last year, the US circuit made waves in the sport by announcing a deal with PIF, ending its ongoing disagreements with LIV Golf – funded rivals.

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Following this announcement, Henry’s interest in investing in professional golf arose, following his observation that no American investors were included in the PGA Tour’s decision to align with the Middle East fund. According to the Boston Globe, Henry met Mark Attanasio, the owner of the Milwaukee Brewers, and their engagement began there.

“Nobody stepped forward (to invest),” Henry said. “I remember asking in that meeting, ‘Why aren’t any Americans standing up?’ Someone who was connected to the golf world said, “Don’t worry, there are a number of banks and bankers looking at this.” So two weeks went by and still, no one intervened.”

That’s when Henry-led FSG decided to make the move, entering what would become a bidding war to partner with the PGA Tour. “It became a bidding war,” Henry said. It’s one of the most unique deals in sports history.”

“Why am I saying this? You’ve got North American team owners coming together to invest as relatively small shareholders, fully aligned with the players and having four seats on this board that don’t give instructions of “This is what we’re going to do.” but providing advice, counsel and support on how best to build this enterprise into the future.”

Henry has since taken a role on the PGA Tour’s transactional committee, which is currently involved in delicate negotiations with the Saudi fund in hopes of brokering a peace deal. The lingering uncertainty is whether the PGA Tour will lift the suspensions it imposed on players who jumped ship for the Saudi-backed tour.

Henry, like many stakeholders, sees reconciliation between tours as a good thing for professional golf. He also said: “The players have the desire, the Public Investment Fund has the desire, and so has the Tour in general – I don’t think there’s anyone in golf who doesn’t want to see (a professional golf unification) happen. .”