PGA Tour makes deal worth up to $3 bn to create for-profit entity

The US PGA Tour announced a deal worth up to $3 billion with a group of billionaire sports team owners on Wednesday to create a for-profit entity, PGA Tour Enterprises.

The commercial venture partnership with Strategic Sports Group (SSG), under the PGA Tour’s control, offers nearly 200 PGA Tour players the chance to become equity holders in the new company launched Wednesday.

SSG…