Liverpool chairman Tom Werner has reassured fans that Fenway Sports Group (FSG) is not losing focus on their current teams, including the Reds, the Boston Red Sox, and the Pittsburgh Penguins.
Despite their diverse portfolio, FSG has set its sights on the golf world, acquiring a franchise in the Technology Golf League and exploring opportunities in the PGA Tour.
Boston Common: FSG Golf Foray
In a surprising move, FSG purchased a franchise in the Technology Golf League, naming their team Boston Common with golf icons Rory McIlroy and Tyrell Hatton, among others.
Talks of a potential investment in the PGA Tour have surfaced, especially in the wake of the LIV Golf saga.
Monster Bid: FSG Strategic Move
Reports suggest that FSG, led by John Henry, has made a substantial bid to secure a position in PGA Tour Enterprises, a new profit-oriented entity.
While concerns among Liverpool fans may arise regarding FSG’s expanding empire, Werner emphasizes that their focus remains on existing ventures.
According to Werner…
However, FSG and Reds chief Werner – speaking to the Boston Globe at the Major League Baseball owners meetings on Wednesday – stressed that was not the case. He said:
“There are a number of people who have raised their hands to say that they would be interested in helping the new PGA, and it’s really up to the players and the board to decide the direction they want to go in.
We’ve said that we think that we can help them, but it’s really up to them to decide the path.
We’ve always thought golf is a growth sport and we feel we have competency in hospitality, in ticketing, creating enthusiasm for the venue that you come to, sponsorship, relations with the fans — these are areas that we have expertise in.
There’s a narrative that we’re taking our eye off the ball. Our focus is obviously on the businesses that we are working in. If this happens, it happens, but it’s not going to divert our attention.”
Strategic Sports Consortium: FSG’s Competition
FSG, part of the Strategic Sports Consortium, competes with prominent sports owners and investment groups for a partnership in the evolving PGA Tour.
The consortium includes notable figures like Wyc Grousbeck, owner of the Celtics, and Steve Cohen, owner of the New York Mets.
PGA’s Evolution: FSG’s Expertise
As the PGA Tour undergoes a transformation from a nonprofit to a for-profit organization, FSG believes it can contribute expertise in hospitality, ticketing, sponsorship, and fan relations.
Werner asserts that FSG’s interest in golf is not new, citing their competency in navigating the evolving landscape.
Beyond Golf: FSG’s Growth Phase
Apart from golf, FSG continues its growth phase, acquiring the Penguins and investing in SpringHill, LeBron James’ entertainment company.
Speculation also surrounds FSG’s potential involvement in an NBA expansion franchise in Las Vegas.
Closing the Narrative: FSG’s Focus
Werner dismisses concerns about FSG spreading itself too thin, emphasizing that their primary focus remains on their current businesses.
The potential PGA venture, while significant, will not divert their attention from their core sporting interests.