Tiger Woods’ TMRW Sports valued at half a billion with latest investment round

BY Preta Peace Namasaba June 27, 2024 7:38 AM EDT
Tiger Woods. Photo credit: Tiger Woods

After completing a Series A investment round, Tiger Woods’ TMRW Sports is on its way to becoming a unicorn. According to Bloomberg, the new funding round, co-led by Dynasty Equity, has brought the company’s valuation to $500 million. This remarkable achievement has been reached in just two years.

“TMRW Sports is leading the evolution of sports, starting with TGL presented by SoFi, which will deliver an innovative product to millions of global golf fans and the broader sports community. And that is just the beginning for this great company. We’re thrilled to partner with the world-class team that Tiger, Rory, and Mike have assembled, as well as the PGA TOUR, and look forward to supporting TMRW Sports as it expands its groundbreaking platform to redefine how the next generation will watch, play, and consume sports,” said K. Don Cornwell, Co-Founder and CEO, Dynasty Equity and member of TMRW Sports Board of Directors.

Founded in 2022 by Tiger Woods, Rory McIlroy, and Mike McCarley, TMRW Sports is focused on building progressive approaches in sports, media, and entertainment. It is supported by prominent institutional investors, sports team owners, athletes, musicians, and other celebrities including Serena Williams, Shaquille O’Neal, Dwyane Wade, and Kevin Durant. Collectively, the investment group’s sports business experience spans the NFL, NBA, MLB, NHL, PGA TOUR, Premier League, Formula 1, and other major sports leagues. This diverse group has a combined reach of more than 1 billion social media followers.

In partnership with the PGA TOUR, TMRW Sports’ first project is a new team golf league called TGL presented by SoFi. The league will feature six teams of PGA TOUR superstars and merge elements of advanced tech and live action. TGL offers fans a progressive, shorter format presentation of team golf with technology as a foundational element.

TGL was originally planned to debut in January in prime time on ESPN and ESPN+. The competition was set to take place at the SoFi Center, TGL’s specially constructed arena in Palm Beach Gardens, Florida. However, a power failure caused the dome of the SoFi Center to deflate resulting in delays. The TGL inaugural season was postponed to 2025.

Earlier in the year, Tiger Woods secured ownership in a historic $3 billion PGA Tour Enterprises deal. The golf legend and other PGA Tour players became equity holders in the newly established for-profit company, an unprecedented approach in professional sports. Although it remains unclear when and if Woods will return to professional golf, his dedication to building a robust business empire is clear.

“Golf is an amazing sport. It has allowed communities to heal and grow. And we, as a team, are going to offer that according to what we believe is the true compensation and meritocracy that our sport has been built upon for all these years,” Tiger Woods said of his ownership in PGA Tour Enterprises.