Tiger Woods’ TMRW Sports, yet to stage a single event, hits $500 million valuation

TMRW Sports, a company backed by golf great Tiger Woods, has raised $500 million in a new funding round. Dynasty Equity Partners and Connect Ventures led the round, according to Bloomberg.

“Our goal has always been to partner with world-class management teams in sports that have a big following,” K. Don Cornwell, co-founder of Dynasty Equity Partners, said. “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.”

Michael Blank, head of consumer investments at Connect Ventures, said the money raised would be used for “expansion into new formats, leagues, territories, and media properties.” There is also the possibility of expanding into women’s golf.

TMRW is the parent company of the tech-forward TGL golf competition. The company’s first competition was postponed until 2025 due to damage to the Florida arena. The delay was attributed to the extensive repair time required and potential scheduling conflicts for television broadcasts and players, Face2Face Africa previously reported.

The six-team league, originally set to debut on January 9 on ESPN and conclude before the Masters in April, faced an unforeseen setback when a power failure left it without a venue to play. Ownership and player rosters had already been announced, making the sudden change a significant disruption to the league’s plans, according to the New York Post.

The TMRW Sports concept involves team match play within a 250,000-square-foot arena at Palm Beach State College. The innovative design features shots into a significantly larger screen than a standard simulator for longer distances, and shots from 50 yards or closer are directed to a high-tech green complex that rotates on a turntable, providing a variety of shot scenarios.