backKing & Spalding advised AMB Sports and Entertainment on its investment in the PGA Tour Enterprises. The investment was made through Strategic Sports Group LLC.
Strategic Sports Group is a consortium of American sports team owners that is partnering with PGA Tour, Inc. to launch PGA Enterprises, the new commercial venture of the PGA Tour. PGA Enterprises will be a first-of-its-kind program in which nearly 200 PGA Tour golfers will also have the ability to become equity holders. SSG will invest up to $3 billion in PGA Enterprises, with an initial investment of $1.5 billion. SSG is led by Fenway Sports Group, and co-investors include John Henry and Tom Werner, owners of the Boston Red Sox, and Steve Cohen, owner of the New York Mets.
The PGA Tour investment joins AMB Sports and Entertainment’s existing portfolio of professional sports teams, including NFL Atlanta Falcons, MLS Atlanta United and the Atlanta Tomorrow Golf League team. AMB Sports and Entertainment also operates America’s largest specialty golf retailer, the PGA TOUR Superstore.
The King & Spalding team advising AMB Sports and Entertainment on the investment consisted of Justin King, Will Jordan, John Sweet, Andrea Demick and Archie Wilson.
A link to the press release announcing the transaction can be found here.