LeBron James and Drake enter the battle against Newcastle United’s owners in a £2.4 billion transaction.
Drake and LeBron James, whose £2.4 billion contract is further called into question, have joined the battle against Newcastle United’s owners.
The singer and basketball icon was among those who quickly invested in the PGA Tour, upending the aspirations of United chairman Yasir Al-Rumayyan and the Public Investment Fund of Saudi Arabia to dominate golf.
Following a “civil war” that threatened the sport, the PIF-owned LIV Golf was scheduled to combine with the more established PGA Tour. Although the merger was announced in the summer of last year, the two parties were unable to close the deal by the deadline of December 31. A group known as the Strategic Sports Group (SSG) intervened and made investments in the PGA Tour during the wait.
LeBron James, Drake, Chris Pratt, John Henry, the owner of Liverpool, Maverick Carter, James’ business manager, and agency Rich Paul have all agreed to participate in the tour as part of the SSG.
According to reports, the PGA Tour is hoping that the SSG’s funding will enable them to increase player equity chances and stop additional players from switching to the PIF-backed competition. When it comes to viewership and audience numbers, LIV is currently lagging behind the more established league.
Even with negotiations, PIF and LIV are a threat to the PGA Tour since Jon Ram, a two-time major winner, signed a contract in December for about £450 million. Furthermore, there doesn’t seem to be any sign of a slowdown in the poaching.
Due to the Strategic Sports Group’s participation and PIF’s intense US examination, the wealth’s fund power in the transaction has been greatly diminished. Tiger Woods stated last month that the PIF money was no longer needed by the tour.
Yasir Al-Rumayyan, the governor of LIV Golf and chairman of Newcastle United, was supposed to lead the new organization, but it now appears improbable. Additionally, LIV Golf withdrew its bid for points toward the world ranking yesterday.
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