Rumors

Just over a month ago, a group of financiers and sports team owners, led by Fenway Sports Group, said it would invest up to $3 billion in the PGA Tour, a watershed deal that gave players equity in the league as it fends off competition from the Saudi-backed LIV Golf. What wasn’t reported then was that several powerful people in sports, music and entertainment had also invested personally. Two names are likely to draw attention: LeBron James, the superstar basketball player, and Drake, the rapper. The investors are bringing more than money. F.S.G. and fellow backers, including the billionaires Steve Cohen, Arthur Blank and Marc Lasry, believe they can help reinvigorate the sport, particularly as the value of media rights soars. James and Drake are committing additional capital as “strategic investors,” and are expected to use their marketing power to help the tour broaden its audience. James and the PGA Tour commissioner, Jay Monahan, were at the home of Tom Werner, F.S.G.’s chairman, recently discussing just that, DealBook hears.

New York Times

Adam Schefter: Scheduled participants on call with Trump: NBA – Adam Silver; WNBA – Cathy Engelbert; MLB – Rob Manfred; NFL – Roger Goodell; NHL – Gary Bettman; PGA Tour – Jay Monahan; UFC – Dana White; WWE - Vince McMahon; NASCAR – John Middlebrook or Jim France; MLS – Don Garber. Notice: No NCAA.

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