Want more from Front Office Sports
in your search results?
The already illustrious ownership cohort of TGL — a new virtual golf league co-founded by Tiger Woods and Rory McIlroy — can now count the richest owner in MLB among its ranks.
New York Mets owner Steve Cohen, a hedge fund manager with a net worth of more than $17 billion, has acquired the rights to TGL’s New York franchise.
Cohen joins fellow TGL team owners Arthur Blank (Atlanta), Fenway Sports Group (Boston), and Serena Williams/Alexis Ohanian (Los Angeles), who welcomed Milwaukee Bucks star Giannis Antetokounmpo as a fellow L.A. team investor.
This marks Cohen’s second major investment in professional sports on top of his $2.4 billion purchase of the Mets in 2020, which can now be seen as perhaps the first step in building a wider team ownership portfolio. It’s unclear how much Cohen and other TGL owners are paying for the franchises.
It’s been a tumultuous year for Cohen’s Mets, who entered the season with a record $344 million payroll but have since torn apart their roster and are all but certain to miss the postseason. Cohen will look to revitalize his sports dealings when TGL launches in January.
Two further franchises are set to be announced soon, completing the league’s founding six teams, each of which will feature three golfers. Owners from the NFL, NHL, MLB, and MLS are all represented among TGL majority owners so far, but none from the NBA.
Download the FOS App
The business of sports, in your pocket.
Scan the QR code to get the app now.
