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Thursday, July 18, 2024
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LPGA Seeking Major Capital Raise Amid Golf Craze

  • The LPGA is taking steps to bring in new financial investors.
  • In the men's game, the PGA Tour is seeing increased interest from U.S. investors.
Liz Dufour-USA TODAY Sports

Golf has only benefited from an increasing number of Americans taking up the sport in recent years and a general influx of interest in the professional game.

Now, the LPGA is looking to bring in new financial investment to continue growing the top tour in women’s golf. LPGA commissioner Mollie Marcoux Samaan told the Financial Times that the circuit is close to naming a strategic planning partner that could help bring in outside capital. 

It’s unclear how much the tour is seeking or when a formal investment could be made.

In August, Fenway Sports Management partnered with the LPGA to expand the tour’s marketing opportunities. FSM is part of Fenway Sports Group, one of the U.S.-based entities reportedly exploring investing in the PGA Tour amid Saudi Arabia’s disruption of the men’s game.

Star LPGA rookie Rose Zhang recently told Front Office Sports that she thought theoretical financial investment from Saudi Arabia could help grow the women’s game. Earlier this year, reports of a LIV Golf women’s league surfaced.

More Money For TGL

Michelle Wie West — the now-retired women’s golf phenom — and USWNT star Alex Morgan have invested in Los Angeles Golf Club, one of the six founding teams in TGL, the virtual golf league founded by Tiger Woods and Rory McIlroy that will launch in January.

LAGC is owned by Serena Willams and her husband Alexis Ohanian — and also counts Milwaukee Bucks superstar Giannis Antetokounmpo among its investors.

TGL is reportedly close to announcing a media rights deal with ESPN.

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