LeBron James and Drake join $3bn consortium to save PGA Tour from LIV Golf
LeBron James and Drake have signed up to invest in the PGA Tour amid the league's civil war against LIV Golf.
The basketball legend and famous rapper are part of a £2.3billion group that invested in the PGA Tour. This big deal, praised by Tiger Woods and other top players, will let players own part of the tour and earn more money, to stop them from being tempted by LIV Golf.
LeBron James' business manager Maverick Carter and agent Rich Paul are also investors. Hollywood star Chris Pratt is another investor, says the New York Times. They're putting their money into the tour along with a group of super-rich people, including Arthur Blank, who owns the Atlanta Falcons, and Steve Cohen, who's in charge of the New York Mets.
"Golf can be so much more than a sport," said Drake. "I remember some of my best childhood memories was being on the golf course with my uncle. It's one thing to invest in a team, but to help reimagine one of the biggest leagues in the world is an incredible opportunity and I'm excited to be a part of it."
James, Drake and their pals are seen as strategic investors in the group, which is known as the Strategic Sports Group. They've been chatting with the tour at the same time as the tour's separate talks with LIV backers the Saudi Arabia Public Investment Fund (PIF). They agreed to merge last summer, but a final deal with the PGA Tour and PIF hasn't happened yet.
LIV Golf snap up PGA Tour winner who bases his game on fellow rebel Mickelson
However, it's clear that the Greg Norman-led breakaway league, which started in 2022, isn't going anywhere despite the merger talks. LIV managed to get several top stars from the PGA Tour when it started, including Dustin Johnson and Brooks Koepka, and it has kept on investing big in players.
In December, two-time major champion Jon Rahm signed a deal worth about £450million. The PGA Tour knows about the threat of LIV and it hopes the SSG deal and the equity opportunities for its players stop more players leaving for the Saudi-funded league. Right now, the PGA Tour is doing better than LIV when it comes to audience and viewing figures, with its events doing much better than LIV broadcasts.
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Drake wants to help 'reimagine' the PGA Tour (Getty Images)Golf bosses are in a panic as more big names move to the rebel LIV Golf series. So superstar LeBron James has been lined up to be the PGA Tour's saviour after they allowed LIV to steal most of their top talent.
James and rapper Drake could even invest in the PGA and use their huge social media pull to tempt fans back. The pair are said to own stakes in Italian Serie A leaders AC Milan and are major stars in the USA where golf chiefs want to win back fans.
PGA chiefs met with James last month with golf legend Paul Azinger branding it "a sad day" for the money-spinning PGA Tour in the wake of the player exodus to LIV. Azinger moaned to Golfweek: "The best players aren't all playing PGA Tour tournaments. That's over. Suddenly, the LIV Tour, let's just say it like this: the PGA Tour has fast become the qualifier for LIV and it's a sad day for golf."
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