Golf-PGA Tour inks $3 billion deal with US consortium

The PGA Tour has secured a $3 billion investment into a new for-profit entity from a consortium of U.S. sports team owners as part of a deal that allows for co-investment from Saudi Arabia's Public Investment Fund, it said on Wednesday.

The deal with Strategic Sports Group will give the U.S.-based circuit's players access to more than $1.5 billion as equity owners in the new PGA Tour Enterprises.