TLDR:
- TMRW Sports, backed by Tiger Woods and Rory McIlroy, completes Series A funding round valued at US$500 million.
- Investment co-led by Dynasty Equity and Connect Ventures, includes athletes like Kevin Durant and Mike Trout.
TMRW Sports, a tech-focused sports venture supported by Tiger Woods and Rory McIlroy, has successfully closed its Series A investment round, valued at approximately US$500 million. The funding was co-led by Dynasty Equity and Connect Ventures, with Dynasty’s co-founder and CEO K Don Cornwell joining TMRW’s board of directors. Participating in the round were institutional investors, sports team owners, prominent athletes such as Kevin Durant, Mike Trout, and Ollie Pope, along with business leaders.
Co-founded and led by Cornwell and Jonathan M Nelson, Dynasty acquired a minority stake in English soccer giants Liverpool last year, while Connect Ventures, an investment partnership between CAA and NEA, previously co-led TMRW’s initial fundraising round. TMRW’s flagship project, the TGL golf competition, is set to launch next year, featuring high-profile athletes as team owners.
The latest funding round will fuel TMRW’s expansion into new formats, leagues, territories, and media properties. Bloomberg reports that the valuation of TMRW after this round stands at around US$500 million. CEO and co-founder Mike McCarley mentioned that discussions are underway for partnerships with other governing bodies, including a potential move into women’s golf.
The inaugural TGL season is scheduled to commence in January 2025 at a purpose-built facility in Florida, with broadcasting rights secured by ESPN. TMRW aims to revolutionize sports media with modern approaches and strategic partnerships to drive growth and development in the industry.
