• Loading stock data...
Friday, December 13, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

  • TGL, an alternative golf league, is set to launch in January 2025.
  • The competition’s parent company, TMRW Sports, just completed a Series A funding round.
USA TODAY

Tiger Woods (above, left) and Rory McIlroy (above, right) won’t hit golf shots in their new alternative league for at least another six months, but their unique business venture is already worth a lot of money.

Front Office Sports can confirm that TMRW Sports, the parent company of the tech-centric golf competition TGL, is valued at nearly $500 million in a Series A funding round announced Monday. Led by investment firms Dynasty Equity and Connect Ventures, the new money means Woods and McIlroy have built a half-billion-dollar company without staging a single event.

Ready for Action

TGL, which has 24 PGA Tour players committed for its first season, is set to debut in January, after venue problems pushed back the original start date, scheduled for earlier this year, by 12 months. SoFi Center, the new 1,500-seat South Florida stadium that will host all TGL matches, had a power failure last fall that led to its air-supported dome collapsing. Now, a permanent roof is being built.

ESPN is signed up as TGL’s media-rights partner under a multiyear deal that should put the league in front of mainstream sports fans beyond just a golf-centric audience—all in prime time. Golfers will hit some shots using a simulator and others at the venue’s 22,475-square-foot green and short game area.

Dollars and Cents

The new league will start with six teams of three players each. Franchise owners include well-known sports team owners like Arthur Blank (Falcons, Atlanta United) and Steve Cohen (Mets), and Woods himself, among others.

Most team owners are also investors in TMRW Sports, which has a long list of athletes, celebrities, and major investment firms with stakes in the company. New investor Dynasty Equity last year made its entry in sports by purchasing a minority stake in Liverpool for $200 million (the Premier League club is owned by Fenway Sports Group, another TMRW investor and TGL team owner).

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NBA Cup Prize: Every Player Wants the Money, But One Would Get..

Each player on the championship team will win nearly $515,000.

Manchester City Is a Mess. It’s Still Breaking Revenue Records

As on-field losses mount, the Premier League giant reports record revenue.

Mets: Not Concerned About Lower-Revenue Clubs After Soto Signing

The club dismisses concerns about fundamentally resetting the sport’s salary scale.

Belichick Makes UNC Intentions Clear: ‘I Didn’t Come Here to Leave’

North Carolina formally introduced Bill Belichick on Thursday.

Featured Today

The Top-Secret Operation to Create the Army-Navy Football Uniforms

The two-year process includes dozens of employees, NDAs, and military historians.
Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena
December 9, 2024

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
exclusive

Talor Gooch Using LIV Golf Fortune to Start Building Sports Empire

The golfer has made more than $43 million individually from LIV.
November 13, 2024

Why Liberty Media Spun Off Assets, Shook Up Leadership

Longtime CEO Greg Maffei is stepping down at the end of the year.
December 4, 2024

U.S. Firm Makes $310M Bet on Soccer by Forming Superagency

The U.S.-based investment company makes a significant play in international soccer.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
October 30, 2024

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
October 25, 2024

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.