LeBron James and Drake are teaming up to become new investors in the PGA Tour, joining a group of high-profile investors in the league. The Fenway Sports Group kicked things off in January by committing a whopping $3 billion investment in the tour.
This groundbreaking deal not only gave players ownership in the PGA Tour but also created competition with the Saudi-backed LIV Golf league, which has been attracting top golfers with lucrative contracts.
Drake shared his love for golf, recalling fond memories of playing with his uncle on the course. In a statement to DealBook, he expressed his excitement about being part of reimagining one of the world’s biggest sports leagues. Investing in a team is one thing, but having a hand in shaping a major league like the PGA Tour is an incredible opportunity that both LeBron and Drake are thrilled to be a part of.
NBA legend LeBron James and chart-topping artist Drake have both jumped on board as investors for the PGA Tour.
James and Drake are now part of a prestigious group of celebrity investors, joining forces with the Fenway Sports Group.
FSG has pledged $3 billion to the PGA Tour to push back against the emerging Saudi-backed LIV golf league. While the exact figures haven’t been revealed, reports suggest that LeBron James and Drake are contributing additional funds as “strategic investors.” Their goal is to leverage their influence in marketing to help grow the league’s fan base.
Joining them in this investment are a group of notable PGA Tour investors, including actor Chris Pratt, James’ business associate Maverick Carter, and his agent Rich Paul, along with United Talent Agency CEO Jeremy Zimmer and UnitedMasters founder Steve Stoute.
Both Drake and James have previous experience in sports investments. In 2021, James obtained a stake in FSG, the owner of the Boston Red Sox and Liverpool FC. Interestingly, James already held a share in Liverpool before partnering with FSG. In 2022, the duo also invested in AC Milan in Serie A, collaborating with RedBird Capital Partners and the New York Yankees’ owners.