Strategic Sports Group
What does this mean for the future of sport.
This type investment is similar to that of a state backed fund, where you have key individuals from influential private equity firms, major sporting organisations coming together to invest in a wider scale projects, gaining more influence in the strategic direction of the governing body.
In 2024, FSG-led consortium Strategic Sports Group (SSG) raised $3bn acquiring a minority share (25%) in the new PGA Tour Enterprises, a commercial entity under the umbrella of the Professional Golf Association (PGA). The agreement provided the PGA with $1.5 billion in upfront capital, the remaining $1.5bn is earmarked for future deployment.
Provided around 200 PGA Tour players a unique opportunity to receive equity in the newly created company PGA Tour Enterprises, however European players are excluded from equity making this a US Centric governance and ownership.
The investment also granted SSG oversight of the PGA Tour’s media rights, sponsorship assets, and tournament operations making a strategic shift from the Tour’s traditional nonprofit structure.
The deal values the newly formed commercial arm at $12.3 billion
This PGA Tour Enterprises has a 13-member board comprising seven player directors, four SSG representatives, and two independents. PGA Tour Commissioner Jay Monahan’s dual role as CEO of PGA Tour Enterprises has drawn criticism:
SAPIF LIV GOLF
In April 2025, SAPIF proposed a $1.5 billion investment in PGA Tour Enterprises, contingent on two demands:
LIV Golf’s Continuity: SAPIF sought assurances that LIV would remain operational as a separate league.
Governance Role: SAPIF governor Yasir Al-Rumayyan requested a co-chair position in PGA Tour Enterprises.
The PGA Tour rejected both conditions, citing conflicts with its vision for a unified golf ecosystem and concerns over ceding control to SAPIF.
However the door was left open for future collaboration with SSG’s willingness to accommodate SAPIF as a minority investor, pending regulatory clearance.
Lead Investors in SSG
John W. Henry (FSG) - AuM $12.6 bn
Mark Attansio (Crescent Capital Group) - AuM $40bn
Marc Lasry (Avenue Capital Group) - AuM $12.9 bn
Arthur M. Blank (AMB Group LLC) - AuM $12.3 bn
Steven A. Cohen (Point72 Asset Management) - AuM $36.9 bn
Gerry Cardinale (RedBird Capital Partners) - AuM $12 bn
Tom Rickets (280 CapMarkets / InspereX) - Underwriters
Wye Grousbeck (Causeway Media Partners) - AuM £330m
Collectively these individuals own
Collectively these investor / owners manage $127+ Bn worth of assets.
25 Sporting Organisations; x8 Football Clubs; x4 TGL Franchies; x7 Other Sports; x6 US Major Sporting Franchises and x5 major media entities.
John W. Henry (FSG),
Full details on a previous post.
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Mark Attanasio
Co-founder and senior executive of Crescent Capital Group, AuM $40 bn
Mark Attanasio is the co-owner of the NBA Milwaukee Brewers since 2005
85% shareholder in Norwich City FC
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Marc Lasry - Avenue Sports Fund
Avenue Sports Fund is a subsidiary of Avenue Capital Group which was co-founded in 1995 by Marc Lasry & Sonia Gardner.
2025 was part of the $35m raised for Unrivaled, the new US women’s professional 3x3 basketball league. The funding round attracted a star-studded group of investors, including athletes like Giannis Antetokounmpo, Michael Phelps
2024 partnered with Bright Path Sports Partners to inject £105 million ($135 million) into Ipswich Town in return for 40% equity.
2024 investment $100 million into Mercury/13 a multi-club network in women’s football. Mercury/13 owns Italy’s Serie A Femminile side FC Como Women
2023 majority owner of TGL San Francisco (The Bay Golf Club)
2023: Lead investor in the US-SailGP
2007: Trackhouse Racing operates teams in NASCAR and MotoGP
2014-2023 held a 25% stake in the NBA Milwaukee Bucks
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Arthur M. Blank
AMB Group LLC founded 2004, AMB Sports and Entertainment (AMBSE) formed in 2016 and is a division of the Arthur Blank Family of Businesses, HQ in Atlanta.
2019, Blank sold a 10% minority stake in a package deal that included the Atlanta Falcons (NFL), Atlanta United FC (MLS), plus some real estate and operating rights to Mercedes-Benz Stadium for approximately $300 million to Alan Kestenbaum, a Canadian mining magnate.
Sporting entities that Arthur M Blank own,
70% Atlanta Falcons (NFL), acquired 2002 for $545m
Atlanta United FC (MLS), acquired 2017
2019 MB Sports and Entertainment (AMBSE) acquired a 10% stake (£2m in Scottish Premiership club Aberdeen FC.
Atlanta Drive GC (TGL), acquired 2023. In addition AMBSE invested directly into TMRW Sports the ownership group behind TGL league.
PGA Tour Superstore, acquired 2010 the largest specialty golf retailer in the U.S., with 74 locations and plans for eight new stores in 2025
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Steven A. Cohen
Founded Point72 Asset Management 2014, a leading global hedge fund and alternative investment firm, March 2025 has $36.9 billion AuM.
2020 acquired 95% NY Mets (MLB) for $2.4 billion
2023, acquired TGL franchise New York Golf Club
2024 acquired a 5% passive stake in Fox Corporation, valued at $21.97 billion, stake acquire $370m. Fox Corporation has also acquired a separate stake in the TGL league.
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Alec Scheiner & Gerry Cardinale
Alec Scheiner: A former executive of RedBird Capital Partners and Co-founder of Otro Capital (a spinoff company from RedBird) has links to FSG, F1 Alpine, Toulouse FC and AC Milan. RedBird have been linked with transferring ownership of Toulouse to Otro to help navigate UEFA MCO ownership regulations.
Gerry Cardinale - founder of RedBird Capital Partners 2014, a New York-based private equity firm, AuM $12 billion. Minority investor into SSG.
2020 acquired an 85% stake in French club Toulouse FC .
2021 acquired 11% in Fenway Sports Group which includes Liverpool FC
2021 acquired 15% in IPL (Cricket) franchise Rajasthan Royals
2022 acquired AC Milan for €1.2 billion
2020 acquired Alpha Entertainment LLC, the parent company of the XFL alongside Dwayne Johnson and Dany Garcia. 2023, RedBird partnered with PJT Partners to raise $125 million for XFL. 2024, the XFL merged with the USFL to form a unified spring football league.
RedBird is a co-owner of the Yankees Entertainment Sports (YES) Network alongside the New York Yankees.
Skydance Media Expansion (2024): RedBird invested $1.8 billion to support Skydance’s acquisition of Paramount Global.
RedBird formed a joint venture with Abu Dhabi-based International Media Investments (IMI) called RedBird IMI. This venture has received £1.9 billion in investment, with £595 million coming from Sheikh Mansour bin Zayed Al-Nahyan, the owner of Manchester City Football Club and IMI3. RedBird IMI added Front Office Sports to its portfolio in 2023.
Acquired All3Media for $1.5b, UK’s largest indie, owning 50 labels, the was there 5th acquisition in their opening year, following Los Angeles-based scripted production company Media Res; unscripted production company EverWonder Studios; children’s entertainment company Hidden Pigeon Company; and digital news outlet Front Office Sports
2023 RedBird in Partnership with Otro Capital, Ryan Reynolds, Rob McElhenney, and Michael B. Jordan invested $220m in F1 team Alpine acquiring a collective 24% stake.
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Wye Grousbeck:
Just sold his NBA Boston Celtics for $6.1bn, The deal will see 51% of the family’s ownership sold now and the remaining shares sold in 2028.
Founder of Causeway Media Partners, £330m AuM, with investments in Zwift, SeatGeek, FloSports, and Formula E-Racing.
Grousbeck co-founded ‘Cincoro Tequila' with NBA legend Michael Jordan, Jeanie Buss (LA Lakers), and Wes Edens (Milwaukee Bucks) a luxury tequila brand.
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Tom Ricketts
Tom Ricketts co-founded Incapital LLC in 1999, a securities and investment banking firm. 2021 Incapital merged with 280 CapMarkets to form InspereX. Tom’s father Joseph Ricketts, founded TD Ameritrade, one of the largest U.S. online brokerage firms iwhich was sold to Charles Schwab for $26 billion in 2020
2009, the Ricketts family purchased a 95% stake in the MLB Chicago Cubs, Tom Ricketts serves as chairman.
2018, Tom Ricketts acquired majority ownership of a USL Championship expansion club in Chicago, only to walk away in 2019 when the stadium proposal failed to gain approval.
A number of these investors have simultaneously invested into TGL Golf League and its six franchises.
Boston Common Golf - Lead Investor John W Henry / FSG
Atlanta Drive GC - Lead Investor Arthur Blank
New York GC - Lead investor Steve Cohen
The Bay GC - Lead investor Marc Lasry
Jupiter Links - Lead Investor HBSE / David Blitzer
Los Angeles Golf Club - Lead Investors Alexis Ohanian (Founder of Reddit) & Serena Williams
SSG’s U.S.-centric ownership base (e.g., Cohen’s Mets, Rickets Cubs, Blank’s Falcons, JwH Red Sox, Attanasio Bucks) faces pressure to eliminate governance conflicts, financial self-interests, power dynamics, and ideological divides.
Whats next for this group