Fenway Sports Group, a golf business he invested in earlier this year, has been pushed back to 2025.
The six-team TGL league, launched by golf stars Tiger Woods and Rory McIlroy’s TMRW Sports company, was scheduled to debut on ESPN in April before the Masters and conclude the season beginning on January 9. Liverpool owner FSG purchased one of the league’s six franchises last June, marking the second time the company has owned a team in the Boston and New England area since the team was named Boston Common Golf.
The race was postponed for 12 months after the So-Fi Dome in Florida suffered damage when a power outage cut off the dome’s air supply. With weeks remaining until the start of the competition and time to resolve questions about the schedule, the decision was made with the agreement of all six club owners to postpone until 2025. “The delay feels like a mixture of frustration and excitement,” McIlroy told ESPN.”We are very happy that no one was injured. “While the delay is disappointing given the circumstances, it will allow us to regroup, focus and come back stronger.”The idea of TGL is to combine technology with live golf. The concept is to play team games in a 250,000 square foot stadium at Palm Beach State College in Florida.
Take long shots on a screen 20 times larger than a standard simulator and create unique shots by playing accurate shots within 50 meters on a state-of-the-art green that rotates on a turntable. Complete shots are performed on real grass or sand, depending on the shooting situation.
The league adopted a 24-man roster that assigned McIlroy and Woods to each team, along with Patrick Cantlay, Justin Thomas and Collin Morikawa. The TGL franchise and potential investment in the PGA Tour are the latest steps in the development of FSG, which insiders described as being in “growth mode.” Portfolio diversification is a key issue for the Reds’ owners, who understand that ECHO is currently reluctant to invest in football, particularly in the multi-club model. A possible move before 2030 would be to acquire an NBA expansion franchise with Las Vegas as a destination. That probably won’t happen anytime soon, as the decision to expand the league has yet to be made.
In addition to the acquisition of the TGL team and potential investment in the PGA Tour, FSG is taking another step into the world of golf in 2023. The £10 billion-plus company, led by John W. Henry, signed a deal last August to grow commercial revenues from the event through one of its subsidiaries, Fenway Sports Management (FSM). FSM, the marketing and sales arm of FSG, has entered into a “unique sales partnership” with the LPGA. This will allow FSG to attract new tour business partners and players on behalf of the LPGA.According to the LPGA, the deal is structured as a profit sharing, meaning FSG will have the opportunity to receive a portion of the profits from the new deal it signed for the LPGA.
This will be accomplished by creating a turnkey sales team to attract new partnerships in addition to the existing LPGA sales team.
FSG Director Henry said in a press release: “(LPGA) Commissioner (Molly) Marcou Samaan spoke about the need for infrastructure to help the LPGA capitalize on the tremendous growth of the sport. Through this partnership, FSM delivers results with a renowned turnkey team experienced in generating commercial revenue for leading companies.
“We look forward to a long-term partnership and are excited to expand the LPGA’s capabilities and capitalize on the tremendous interest from brands looking to invest in one of the longest-running women’s professional sports associations in the world.”
