Tiger Woods and Rory McIlroy’s TMRW Sports company has attracted fresh investment from two hedge funds ahead of the launch of the TGL golf league in 2025
The company TMRW Sports, co-founded by golf greats Tiger Woods and Rory McIlroy, has propelled its valuation to a cool $500m (£394m).
This success comes with the anticipation of their innovative golf league TGL set to kick off next year, backed by cash injections from hedge funds Dynasty Equity Partners and Connect Ventures. Promising an exhilarating tech-infused sporting experience, TGL will project a live broadcast on ESPN in early 2025.
Ready to challenge traditional golf norms, it’s packing its league with four-man teams comprised of top-tier PGA Tour stars. The setting? A tech-packed indoor arena flaunting a colossal simulator and a cutting-edge green possessing dynamic contours.
While plans were initially slated for a January launch, unexpected weather conditions causing structural damage last year meant construction had to be halted. Initial designs have been re-evaluated for the Palm Beach Gardens, Florida-based venue once destined to sit inside an inflatable dome.
Nevertheless, this postponement only spurred investor interest without any negative implications on the company’s worth. It’s noted that recent financial backing by Dynasty and Connect secured a hefty valuation for TMRW Sports standing tall at $500 million – months before TGL’s debut.
The appealing concept of TGL beaming out sports coverage during primetime post-NFL regular season was lauded by investors. Michael Blank, who oversees consumer investments at Connect iterate the funding would focus on “expansion into new formats, leagues, territories and media properties.”
According to the report, CEO of TMRW Sports Mike McCarley has revealed plans are afoot for expansion – to include a women’s competition in TGL. Commenting on this perspective, he said his firm is “in discussions with other governing bodies”.
An artist’s impression of the inside of SoFi Center, which will be the home of TGL
On the same matter, K. Don Cornwell from Dynasty, also minority stakeholders in Liverpool FC, shed some light on their goals: “Our goal has always been to partner with world-class management teams in sports that have a big following. TMRW is taking intellectual property and applying it in such a way that’s going to not only get existing fans excited, but bring new fans under the tent. And, since accessibility and bringing diversity into sport is among our priorities, it’s a great fit.”
There’s no shortage of high-profile funders backing TMRW Sports even before this latest injection of cash. With heavy-hitters from business big leagues like Steve Cohen, Arthur Blank, Fenway Sports Group and Alexis Ohanian through to music and sports celebs including Steph Curry, Shohei Ohtani, Justin Timberlake, Niall Horan and Justin Beiber as investors.
Stars align with golf icons Woods and Mcllroy who have both enlisted an elite roster for the inaugural season of TGL. Among those splitting into six teams to represent Atlanta, Boston, New York City, Los Angeles, the Bay Area, and Jupiter, Florida respectively, you’ll find top players Justin Thomas, Jordan Spieth and Rickie Fowler.
