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American golfer Tiger Woods, whose fortune Forbes put at $1.5 billion this month, is close to seeing the sports company he co-founded valued above $1 billion in its own right.
TMRW Sports is finalising a funding round at more than $1 billion, Front Office Sports reported, citing sources. That is double the nearly $500 million valuation at its Series A two years ago, and up from roughly $650 million in a round last year led by Silver Lake co-chief executives Egon Durban and Greg Mondre alongside Patrick Whitesell's WTSL.
Three sources told Front Office Sports that Dynasty Equity, which co-led the 2024 Series A, will participate. Discussions with investors, including high-net-worth individuals, have run since around the World Cup final in July, with one source describing significant institutional support. TMRW Sports declined to comment.
Woods founded the company in 2022 with Rory McIlroy and former Golf Channel president Mike McCarley.
Three businesses, not one
TMRW is the parent of TGL, the men's indoor golf league, and of WTGL, a women's league whose debut season starts Nov. 8 on ESPN and Ion TV. It is also the firm the NFL selected to develop and operate its planned professional flag football league for men and women, expected to launch before flag football's Olympic debut at the 2028 Summer Games.
The five founding WTGL franchises have all been sold to existing TGL ownership groups. Backers include Trybe Ventures, the investment firm of former United States international Alex Morgan, alongside Mia Hamm and Abby Wambach.
Existing TMRW investors include Atlanta Falcons owner Arthur Blank, David Blitzer, Carolyn Tisch Blodgett, Steph Curry, Fenway Sports Group, Alexis Ohanian, Shaquille O'Neal, Michael Rubin and Justin Bieber.
The gap in the picture
TGL's initial two-year media rights deal with ESPN has expired. ESPN is expected to pursue an extension, but no agreement has been announced.
The league reached viewership milestones in its second season, helped by Woods, 50, playing in the TGL Finals, which drew just under a million viewers. The third season begins in 2027.
Woods has not competed on the PGA Tour since missing the cut at The Open at Royal Troon in July 2024. His other interests include TGR Design, the mini-golf chain PopStroke, and a stake in Full Swing, the simulator company Versant Media Group agreed in July to buy for about $530 million.
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