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LeBron James and Drake among celebrity heavy hitters backing PGA Tour in new deal

NBA superstar Lebron James and Canadian rapper Drake are part of a group of financiers and sports moguls investing up to US$3 billion in the PGA Tour amid its ongoing battle with LIV Golf.

The backers, led by Fenway Sports Group, also includes Hollywood star Chris Pratt, and billionaires Steve Cohen, Arthur Blank and Marc Lasry.

James and Drake are contributing further as "strategic investors," leveraging their considerable marketing influence to expand the tour's audience.

Recently, James and PGA Tour commissioner Jay Monahan convened at the residence of Tom Werner, chair of FSG, to explore these strategies, as reported by DealBook.

The deal could see stars like James and Drake making their presence felt on the PGA Tour, reminiscent of Drake's frequent presence courtside at Toronto Raptors games.

Reflecting on his involvement, Drake said in a statement to DealBook, "Golf can be so much more than a sport. 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."

In 2021, James secured a stake in Fenway, which owns the Boston Red Sox and Liverpool FC.

In 2022, James and Drake also invested in AC Milan, the Italian soccer club, alongside RedBird Capital Partners and the owners of the New York Yankees.

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