LeBron James and Drake splash out on PGA Tour investment with Liverpool owners piling in billions
LeBron James and Drake are the latest A-listers backing the PGA Tour with some huge investment.
The golfing tour has been looking for new investment as it looks to rival LIV Golf, who are bankrolled by Saudi Arabia's Public Investment Fund.
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The PGA Tour has seen swathes of golfers leave for LIV Golf, where they are guaranteed massive pay packets to compete on huge contracts.
But this could be a turning point in the battle for golfing supremacy with James and Drake potentially piling in tonnes of cash, according to the New York Times.
And they are not the only ones with Liverpool's owners Fenway Sports Group leading the way, committing up to $3billion (£2.36m) in investment in the tour in January.
"Golf can be so much more than a sport," Drake said in a statement to DealBook.
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"I remember some of my best childhood memories was being on the golf course with my uncle.
"It's one thing to invest in a team, but to help reimagine one of the biggest leagues in the world is an incredible opportunity and I'm excited to be a part of it."
Neither Drake nor James have disclosed exactly how much they are ready to commit in capital but will be called 'strategic investors'.
Both have massive audiences in the United States and beyond and are expected to use their platforms to expand the PGA Tour.
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They are not the only big names to invest in the golfing body, with Hollywood actor Chris Pratt also listed, as well as James' business partner Maverick Carter and his agent Rich Paul, United Talent Agency CEO Jeremy Zimmer, and UnitedMasters founder Steve Stoute.
This is not the first time that NBA legend James has become involved in sports investment - and not even with FSG.
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In 2021, James, who became the first active NBA player to become a billionaire in 2022, bought a stake in FSG, who own the Boston Red Sox and Liverpool.
The Los Angeles Laker star already had a stake in Liverpool, though, and has also invested with Drake before after agreeing a partnership with AC Milan.