Tiger Woods’s $500M-Valued Company to Fulfill $925 Billion PIF’s Failed Promise, as Per Rumors

Tiger Woods and Rory McIlroy‘s golf project TGL has already attracted all sorts of attention. Apart from marquee team owners and investment from Hollywood, TGL has also drawn criticisms after comparisons with LIV Golf. But a recent development suggests that the high-tech league might just stand out from its PIF rival.

Interestingly, when the Saudi-backed league was launched in 2021, Greg Norman talked about taking a step toward women’s golf and its development when he revealed, “I have personally had discussions with individual LPGA Tour players, Ladies European Tour players, the Ladies European Tour. They love what our product is showcasing. They ask all the time, ‘How can we get involved?’ We’d love to see a LIV ladies series.” Three years later, there has been no development on this front.

This is where Tiger Woods and McIlroy’s TMRW Sports come in. Founded in August 2022, there are reportedly plans to push the door ajar for women’s competition in their golf league. This development comes after TMRW Sports propelled its valuation to $500 million after it closed a funding round led by Dynasty Equity Partners and Connect Ventures according to a report from Bloomberg on 24 June.

Further, according to the report, CEO of TMRW Sports Mike McCarley has revealed plans are brewing to include a women’s competition in TGL. “A push into women’s golf is among the options being considered,” McCarley stated. With no sign of a “LIV Ladies” competition, this step from TGL could be a game-changer for the new indoor league. Commenting on this perspective further, McCarley said his firm is “in discussions with other governing bodies”. 

After their tie up with TMRW Sports, co-founder of the Dynasty Equity Partners K. Don Cornwell Cornwell said, “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 also bring new fans under the tent. And, since accessibility and bringing diversity into sport are among our priorities, it’s a great fit.”

TGL is TMRW Sports’ first venture and set to launch in January next year. The league was slated for launch early this year, but harsh weather conditions damaged the tech-packed indoor arena. But the delay has only played in the league’s favor with heavy investment coming in.

This further adds to TMRW Sports’ reputation, which already boasts team owners and investors well-known in the sports and entertainment industry. MLB stars Mike Trout and Shohei Ohtani, NBA legends Shaquille O’Neal and Dwyane Wade, and British F1 star Lewis Hamilton are some of the big names from the sporting world who have invested in the venture.

From Hollywood and the entertainment industry, the likes of Justin Timberlake, Justin Bieber, DJ Khaled, and many others are included as investors. Meanwhile, Los Angeles Golf Club, one of the six TGL teams, has Serena and Venus Williams, and the former’s husband, Alexis Ohanian has part of its ownership structure. Both Serena and Ohanian are committed to getting the LPGA involved at some point and the recent report suggests it may not be too long before we see that happen.

With the new investment, the company is stepping forward to fulfill the promise that the $925 billion PIF failed to keep. This was despite LPGA’s Rose Zhang pushing for the idea of a Saudi-based investment.

What Rose Zhang has to do about the involvement of Saudi investment

Since the initial announcement, fans and pros have eagerly awaited the merger between PGA Tour and LIV Golf. However, the LPGA Tour was excluded from the talks.

When asked if investment from Saudi Arabia could help grow women’s golf and the LPGA Tour, Zhang stated, “I think it definitely could,” to Front Office Sports, in an interview last year.

The Ladies European Tour has benefited from Saudi Arabia, which has been hosting the Aramco Saudi Ladies International tournament since 2020 and increased the prize money for this year’s event to $5 million.

However, the delay by LIV Golf in progressing on the inclusion of women’s golf could lead to TGL capitalizing on the chance and taking their shot. Who do you think can benefit the women’s golf better? Share your thoughts in the comments below!