“I think that’s where the discussions will start” - Jordan Spieth asserts PGA Tour's independence post Strategic Sports Group deal

The Fenway Sports Group recently invested in a private equity deal of $3 billion with the PGA Tour, and Jordan Spieth is feeling confident about the future. With the new investment now coming in, Jordan Spieth is confident that the Tour will stray away from the merger agreement that has been signed with the Saudi Arabian PIF.

FSG will inject half the amount initially, and the rest will be given later. The PGA Tour members will receive immediate and future equity from the $1.5 billion. Jordan Spieth is a part of the PGA Tour Policy Board and is happy with the investment that has been made.

Speaking via SB Nation, Spieth said:

“I don’t think that it’s [an agreement with PIF] needed. At this point, if the PIF were interested in coming in on terms that our members like and/or the economic terms are at or not beyond SSGs... I think that’s where the discussions will start.”

Now, Spieth believes that the Tour can operate independently and still carry out its own decisions without being under severe pressure from investors:

“I think the coolest thing about [the deal with SSG] is the players are now owners. Not only do they benefit from the tour, but they now are equity owners, so they want to push it themselves. They want to make the product better themselves. Not that they didn’t before, but you directly benefit from owning a piece. So I think that part is maybe the coolest part of the funding.”

The future of the merger agreement between the PGA Tour and the Saudi Arabian PIF is yet to be finalized. However, the new investment from FSG should not hamper the PIF deal according to LIV Golf CEO Greg Norman.

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Jordan Spieth, Tiger Woods, and other board members send out joint statement, express confidence in FSG investment

Patrick Cantlay, Webb Simpson, Adam Scott, Jordan Spieth, Peter Malnati, and Tiger Woods voted in favor of the deal and expressed their happiness at being able to create opportunities for current and future players. The board released a statement via BBC that said:

"We were proud to vote in unanimous support of this historic partnership. It was incredibly important for us to create opportunities for the players of today and in the future to be more invested in their organisation, both financially and strategically."

PGA Tour commissioner Jay Monahan announced the investment, calling it a historic day for golf.