TMRW Sports, the tech-focused sports, media, and entertainment venture headed by golf icons Tiger Woods, Rory McIlroy, and their business partner Mike McCarley, has completed a new Series A funding round headlined by investment from the Dynasty Equity investment group and Connect Ventures.
Dynasty, which in October became a minority shareholder in English soccer giant Liverpool, co-led the investment round alongside tech-focused investment firm Connect Ventures, which is already an investor in TMRW having co-led the venture’s initial funding round.
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Other investments in the round came from a number of “institutional investors, sports team owners, cultural icons, and business leaders.”
TMRW operates the tech-infused golf league TGL, which will debut in 2025.
According to Bloomberg, the funding round valued TMRW at around $500 million.
Dynasty Equity was co-founded by executive chair Jonathan Nelson and chief executive K. Don Cornwell, both of whom has a long history in the sports industry.
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By GlobalDataBetween 1989 and 2020 Nelson was the chief executive officer of the investment fund Providence, which aided in the foundation of the Yankees Entertainment and Sports Network (baseball), MLS Media (soccer), and
Cornwell, who joins the MRW board of directors as an observer, once served as head of global sports investment banking at the Morgan Stanley bank where he oversaw the sales of Maple Leaf Sports & Entertainment, the Buffalo Bills of the NFL, and the sale of agency IMG to WME.
Speaking on his fund co-leading the funding round Cornwell stated: “TMRW Sports is leading the evolution of sports, starting with TGL presented by SoFi, which will deliver an innovative product to millions of global golf fans and the broader sports community. And that is just the beginning for this great company.
“We share TMRW Sports’ vision and commitment to relentless innovation in sports – reimagining the playbook for sports media and entertainment and embracing technology to create experiences that will make sports more accessible to a broader audience. We're thrilled to partner with the world-class team that Tiger, Rory, and Mike have assembled, as well as the PGA TOUR, and look forward to supporting TMRW Sports as it expands its groundbreaking platform to redefine how the next generation will watch, play, and consume sports.”
TMRW already boasts a glittering investor lineup of sports and entertainment personalities including tennis’ Venus Williams and Andy Murray, motor racing’s Lewis Hamilton, basketball’s Steph Curry, and soccer’s Gareth Bale and Alex Morgan.
Investors from the business world include David Blitzer (co-managing partner and co-founder of Harris Blitzer Sports & Entertainment), Tom Werner (chairman of Fenway Sports Group), and Dick Ebersol (former chairman of NBC Sports).
