Rory McIlroy and Tiger Woods are preparing to launch their new TGL indoor golf league after securing funding from TMRW Sports as a start-up, with the tech-infused league set to be launched in January
The new business venture of golfing greats Rory McIlroy and Tiger Woods has been valued at a whopping $500m, as excitement builds for their newly announced indoor golf league. The pair recently unveiled their collaboration to launch the TGL indoor golf league, having secured start-up funding from TMRW Sports.
This tech-driven league, in partnership with the PGA Tour, is slated for a January launch, with ESPN set to broadcast the weekly competition, aiming to attract a substantial viewership. Six teams, each comprising three PGA Tour players, are anticipated to compete in matches on Monday and Tuesday evenings.
The concept has been warmly received and is predicted to be a resounding success. Consequently, Front Office Sports has valued TMRW Sports at $500m, even though the competition is still six months away from its launch, reports the Express. The project enjoys significant backing beyond McIlroy and Woods, with New York Mets owner Steven Cohen and Atlanta Falcons owner Arthur Blank both financially invested in the league.
If all goes according to plan, the valuation could skyrocket even further. The prospect of Woods and McIlroy associating their names with a company and watching it grow to be worth half a billion dollars before an event has even taken place will undoubtedly bolster their confidence that this business venture was the right move.
The healthy valuation of the new project will be a welcome sound to McIlroy’s ears, especially after he decided not to participate in the Rocket Mortgage Classic. Despite a grand prize of £1.3million being up for grabs, the 35-year-old chose to stick to his word and take a brief break.
After his late-stage collapse at the US Open, which cost him a shot at victory, the Northern Irishman decided to take some time off from golf. McIlroy had a two-shot lead over Bryson DeChambeau going into the final four holes at Pinehurst but succumbed to the pressure.
In his last hour of play, he scored three bogeys, including two short putt misses at the 16th and 18th holes, giving DeChambeau an opportunity. His rival seized this chance with both hands, dramatically edging out McIlroy for the title.
