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PGA Tour's billion-dollar deal with the Strategic Sports Group (SSG) has won the 'Best Deal of the Year' award amidst the American golf circuit talk with LIV Golf. Following the creation of LIV Golf, financially funded by Saudi Arabia's Public Investment Fund, the PGA Tour signed a deal with SSG last year in January.
The two organizations came forward to create PGA Tour Enterprises with the aim of the betterment of the sport. SSG agreed to contribute a $3 billion investment with an initial investment of $1.5 billion.
The PGA Tour-SSG deal was nominated for the Best Deal of the Year with some other nominations, including NBC Universal and Disney, the Smith Entertainment Group deal with an NHL franchise, WWE deal with Netflix, among other deals.
Finally, the PGA Tour-SSG deal bagged the award in the Sports Business Awards ceremony on Wednesday. SBJ shared the good news by taking to their X (formerly Twitter) account, writing:
Trending
"Deal of the Year: Strategic Sports Group completes investment in @PGATOUR Golf’s shakeup sparked the $3B-backed Strategic Sports Group, led by Fenway Sports. It’s $1.5B investment launched PGA Tour Enterprises, giving players equity and reshaping the Tour."
Last year, while announcing the deal with SSG, Tour Commissioner and the CEO of the newly formed PGA Tour Enterprises, Jay Monahan said (via PGA Tour):
"By making PGA TOUR members owners of their league, we strengthen the collective investment of our players in the success of the PGA TOUR. Fans win when we all work to deliver the best in sports entertainment and return the focus to the incredible – and unmatched – competitive atmosphere created by our players, tournaments and partners."
Meanwhile, the PGA Tour has also been in continuous talks about a framework agreement with PIF. The agreement was announced by the Tour Commissioner back in 2023, but the deal has so far not come to any conclusion.
Caitlin Clark and Gainbridge’s LPGA collaboration wins big at Sports Business Awards
Sports Business Journal has also revealed the award for Brand Activation of the Year, which was bagged by Gainbridge and WNBA star player Caitlin Clark's collaboration for an LPGA Tour event. Last year, in a pro-am event at The Annika LPGA driven by Gainbridge, Clark competed in a game with Rolex number one golfer in the world, Nelly Korda, and LPGA veteran Annika Sorenstam.
The collaboration has now bagged an award. Sharing the news, SBJ wrote on its X (formerly Twitter) account:
"Brand Activation of the Year: Gainbridge x Caitlin Clark at The ANNIKA LPGA Pairing Annika, Caitlin Clark, Nelly Korda & Andretti drivers drove major buzz and millions of impressions across sports."
Caitlin Clark is an avid golfer and has often been seen playing the sport. She had a handicap of around 16 and has even competed in PGA Tour events. She played in a pro-am event of the John Deere Classic in 2023.
