Tiger Woods and Rory McIlroy are starting a new tech-focused venture around sports, media and entertainment, TMRW Sports, pronounced “Tomorrow Sports.” Former Golf Channel president Mike McCarley is also a founder and will serve as CEO.
“For the last few years off the course, I’ve been focused on helping to lead golf into its digital future,” McIlroy said in a press release. “Now, by joining forces with Tiger, Mike and other TMRW Sports partners, we can shape the way that media and technology improve the sports experience.”
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on sunday Golfweek reported the venture would bring the world’s top golfers together to compete against each other in a stadium environment in one-day events beginning in 2024. It would be done in partnership with the PGA Tour, which presumably eliminates participation by LIV golfers. The plan was shared with tour members last week at a players-only meeting, per Golfweek. Players would have an opportunity to build equity in the venture.
The venture has attracted a roster of initial investors with deep ties to the banking and sports business world. They include longtime NBC Sports executive Dick Ebersol, former Goldman Sachs partner and NFL EVP Eric Grubman, Dynasty Equity cofounder Don Cornwell, former NHL COO John Collins and former chairman of Goldman Sachs global equity capital markets John Daly.
Woods ($73.5 million) and McIlroy ($38.4 million) were the two highest-paid golfers in the world before LIV upended the sport’s financial structure with nine-figure bonuses to join the Saudi-backed circuit. Both golf pros have deep rosters of endorsement partners but have increasingly looked to build equity as part of their portfolios, similar to other high-profile athletes such as Tom Brady, LeBron James, Naomi Osaka and Kevin Durant.
TMRW will be part of Woods’ TGR Ventures portfolio, which also includes PopStroke, Full Swing Golf, TGR Design, The Woods Jupiter and Heard. McIlroy’s investment partnership, Symphony Ventures, has stakes in Puttery, GolfPass, GolfNow Compete, Golf Genius, Golf+, Troon Golf, Hyperice and Whoop.
“So many athletes, entertainers and people I meet from all walks of life share our passion for sports, but they also share our desire to build a better future for the next generation of sports fans,” Woods said in a statement, promising to ” harness technology to bring fresh approaches” to sports.
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