Rory McIlroy gets eye-watering business valuation days after snubbing £1.3m payday
Rory McIlroy has endured a rollercoaster of a month following his defeat at the US Open.
Rory McIlroy and Tiger Woods’ new business has been valued at around £395million ($500m), with anticipation growing for their newly-announced golf league.
The two golf stars recently revealed that they have joined forces to launch their TGL indoor golf league after securing funding from TMRW Sports as a start-up.
The tech-infused league is in partnership with the PGA Tour and is set to be launched in January, with ESPN broadcasting the weekly competition in the hope of bringing in a significant viewership.
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Six teams of three PGA Tour players are expected to compete in matches on Monday and Tuesday nights.
The idea has been well-received and is expected to be quite a success. As a result, Front Office Sports has valued TMRW Sports at £395m, despite the competition being six months away from launching.
The project has immense backing away from McIlroy and Woods, with New York Mets owner Steven Cohen and Atlanta Falcons owner Arthur Blank both financially involved in the league.
The valuation is likely to soar even further if the plan comes together as hoped, and Woods and McIlroy being able to put their name to a company and see it grow to be worth half a billion dollars without an event even being staged will certainly give them confidence that their business venture was the right decision.
The new project receiving a healthy valuation will be music to the ears of McIlroy after he ruled that he would not be competing in the Rocket Mortgage Classic. Despite there being a £1.3million grand prize on offer, the 35-year-old decided to stick to his word and enjoy a short break.
The Northern Irishman ruled that he would take some time away from golf after he collapsed in the latter stages of the US Open and threw away his chances of landing the spoils. McIlroy had a two-shot lead over Bryson DeChambeau heading into the final four holes at Pinehurst but allowed the pressure to get the better of him.
He hit three bogeys in his final hour holes, including two short putt misses at the 16th and the 18th, to give DeChambeau a chance, and his rival took that opportunity with both hands to pip McIlroy to the title in dramatic fashion.
