GBR Friday | How PopStroke Became a $650M Business—and Tiger Woods’ Most Scalable Venture Yet
Every Tuesday and Friday, we connect the dots across golf’s business, media, and professional landscape.
Good morning, GBR,
Apologies for the lack of a newsletter this week. Normal service will resume from Tuesday next week.
Q2 financials are coming out for Topgolf, Callaway, and Acushnet. We’ll cover the financials in more detail next week, but one aspect that caught my eye with regard to Topgolf is the acknowledgement that Topgolf will remain part of the group for this year.
Elsewhere in industry, we’ll cover new partnership announcements featuring Troon Golf and 59club.
Later on, we’re also going to take a deeper dive into the Tiger Woods-backed PopStroke golf.
We’ll take a look at the business model, the current venues, and future venues, plus the available financials.
We have our usual group of segments for today’s newsletter, which are:
Industry
Circuits/Professional Game
Equipment
People To Watch
PopStroke: Tiger Woods’ Scalable Golf Venture Is Reshaping the Game Experience
Enjoy your weekend.
INDUSTRY
TOPGOLF SPINOFF PUSHED TO 2026 AMID LEADERSHIP SHAKEUP AND STRATEGIC REASSESSMENT
Topgolf Callaway Brands has delayed the potential sale or spinoff of its Topgolf business until 2026, citing leadership transition as a key factor.
During the company’s Q2 earnings call, CEO Chip Brewer reaffirmed the company's commitment to separating the Topgolf unit, stating the company remains “100 percent committed” to the move. However, current circumstances make a 2025 transaction “impractical.”
The announcement follows the recent resignation of Topgolf CEO Artie Starrs, who will remain in his role through September before joining Harley-Davidson as President & CEO. Brewer confirmed that both spin and sale options remain under active evaluation, and highlighted strong segment results as “fundamental to a positive outcome” regardless of the final structure.
In Q2 2025, Topgolf Callaway Brands reported $1.1 billion in net revenue, down 4.1% year-on-year. The Topgolf segment earned $485.3 million (down 1.8%), while golf equipment generated $411.6 million (down 0.5%).
The active lifestyle segment posted a steeper 14.4% decline to $213.6 million.
The company also completed the sale of Jack Wolfskin to ANTA Sports for $290 million—one month ahead of schedule. Following the divestment, full-year revenue guidance was revised downward to $3.8B–$3.92B from the previously projected $4B–$4.185B.
Tariff-related costs were also raised to $40 million, up from earlier estimates of $25 million. Ethan Joyce’s report for Sports Business Journal can be read in full here.
TROON TAKES THE REINS AT CHASING ACES
Troon has officially entered a management agreement with Chasing Aces, a 27-acre golf, food, and entertainment complex that opened June 16 in Bossier City, Louisiana.
The partnership began in January 2025 through Troon’s RealFood Hospitality, Strategy & Design division, initially providing F&B consulting before evolving into full golf and hospitality operations.
Positioned on the Shreveport-Bossier riverfront, Chasing Aces combines a multi-level driving range with 30 swing bays, an LED-lit 18-hole putting zone, a Par 3 course, and Home Run Dugout batting cages.
Conceived by founder John Dudley as a community-centric space for golfers of all skill levels, the facility aims to serve families, friends, and corporate groups alike. “Chasing Aces is more than a golf venue, it’s a community hub,” said Dudley. Troon’s Chris Tocchio echoed the sentiment, calling the partnership a “perfect alignment” with Troon’s guest experience strategy. More details on Troon’s management agreement arrangements with Chasing Aces can be found here.
59CLUB UK AND UK GOLF FEDERATION UNITE TO RAISE SERVICE STANDARDS
59club UK has entered into a strategic partnership with the UK Golf Federation (UKGF) aimed at elevating service delivery, operational performance, and customer experience across more than 1,000 member golf facilities nationwide.
Under the agreement, UKGF members will gain access to 59club’s full suite of benchmarking tools, training programmes, educational events, and tailored performance insights—all designed to help venues enhance guest satisfaction, grow revenues, and drive long-term sustainability.
The collaboration brings 59club’s expertise to a broader network of golf resorts, clubs, driving ranges, and nontraditional facilities. Will Hewitt, General Manager at 59club UK, called the move a “shared commitment” to transforming customer engagement across the golf industry.
At the same time, UKGF CEO Doug Poole described it as a “game-changer” for member clubs striving to raise service levels and improve business performance. More details on the partnership can be found in the press release on 59club’s website.
GOLF BUSINESS TECHNOLOGY CONFERENCE 2026 RETURNS TO BELFAST THIS MAY
The Golf Business Technology Conference (GBTC) will return to Belfast, Northern Ireland, from May 5–7, 2026, reaffirming its status as the golf industry's premier innovation-focused event.
Hosted at the award-winning Merchant Hotel, GBTC 2026 will gather global leaders in golf, technology, data, and sports innovation for three days of insight, networking, and live demonstrations.
The conference will explore cutting-edge developments in course management, AI, sustainability, digital engagement, and golf entertainment—providing attendees with actionable strategies to enhance operational efficiency and revenue.
Founder Aboo Tayub emphasized the event’s role in connecting the visionaries shaping golf’s future, calling Belfast “a city that mirrors the spirit of innovation our industry is striving toward.” More information on next year’s conference can be found here.
PITCH GOLF TO OPEN FLAGSHIP MANCHESTER VENUE IN SEPTEMBER
Pitch Golf will open its first northern venue in England on September 8 in Manchester’s Enterprise City, marking a significant expansion beyond its London base.
Spanning 10,000 square feet, Pitch Manchester will feature 10 Trackman-powered simulator bays, five exclusive to members, alongside a central bar and lounge.
Members will also gain access to the city’s first TRENDYGOLF Concept Store and a custom Clubhouse Fitting Studio offering gear from leading golf brands.
The venue is designed as a hybrid social, retail, and coaching space, with a team of PGA professionals available for lessons through Pitch’s in-house academy.
Memberships start at £129 per month, including guest access, bay time, and discounts across Pitch locations. The new opening is expected to create 35 jobs across hospitality and golf services. You can find out more about Pitch Manchester here.
NEW SOUTH WALES GOLF CLUBS SECURE FUNDING FOR COMMUNITY-FOCUSED INFRASTRUCTURE UPGRADES
Nineteen golf clubs across New South Wales, Australia, are set to embark on vital infrastructure improvements following the announcement of funding from the NSW Government’s Community Building Partnership Program.
Revealed by Minister for Sport and Small Business Steve Kamper on August 4, the grants will support projects ranging from stormwater drainage and solar panel installation to clubhouse refurbishments and the development of inclusive, multi-use spaces.
The initiative aims to enhance sustainability, accessibility, and community engagement through shovel-ready investments. Golf NSW CEO Stuart Fraser praised the funding as a critical boost to clubs’ long-term viability, noting that the upgrades will improve facilities and expand access to the sport.
Without this government support, many of the projects, Fraser said, would remain out of reach for local clubs. More details, including the courses that have obtained funding, can be found here.
RHOBACK PARTNERS WITH REPSPARK TO DRIVE WHOLESALE EXPANSION
Rhoback has announced a strategic partnership with RepSpark to support its fast-growing wholesale business, targeting golf pro shops, collegiate bookstores, and specialty retailers across the U.S.
Rhoback will leverage RepSpark’s intuitive B2B platform to streamline wholesale operations, including simplified ordering, real-time inventory access, and enhanced service for retail partners.
Founded in 2016 and inspired by a Rhodesian Ridgeback named Bunker, Rhoback has grown from a camper-based startup to a direct-to-consumer favorite with a rapidly expanding wholesale footprint.
Rhoback Director of Business Operations Renée Sundén praised RepSpark’s technology and support, citing positive industry feedback and confidence in the platform’s ability to fuel growth. RepSpark CEO Meghann Butcher called Rhoback an “ideal partner,” noting the brand’s commitment to quality and innovation. Retailers who have RepSpark accounts can register interest in stocking Rhoback clothing by registering here.
CIRCUITS/PROFESSIONAL GAME
THE 153RD OPEN AT PORTRUSH BREAKS RECORDS FOR ATTENDANCE, VIEWERSHIP, AND DIGITAL REACH
Figures released by the R&A confirm the 153rd Open at Royal Portrush drew a record-breaking 278,000 spectators, the highest attendance ever for an Open staged outside of St Andrews.
With all Practice Days sold out for the first time and 90,000 fans attending before the tournament even began, the event reaffirmed Ireland’s fervent passion for golf.
The R&A’s Kids Go Free initiative enabled 19,000 children to experience the Championship, while ticket demand surged with more than 1.2 million applications submitted through the ballot.
Television audiences also soared: Sky Sports in the UK logged its most-watched Open to date with 21.2 million viewer hours, up 36% year-on-year, while NBC’s final round broadcast in the U.S. averaged 4.1 million viewers, peaking at 6.1 million — the highest since 2022.
Reporting in The Golf Business, Alistair Dunsmuir reported that The Open made a historic digital impact. TheOpen.com achieved its highest-ever daily users and pageviews, with traffic rising 60% from 2024. Social media platforms added nearly 400,000 new followers, a 178% increase, generating over 436 million views across all channels.
Livestreaming also surged, with Featured Groups content contributing to the second-highest view count on record.
The R&A’s fan membership programme, One Club presented by Mastercard, surpassed two million members across 184 countries, with over 155,000 new sign-ups during the week, the strongest membership growth since 2022.
Interest is already surging for the 154th Open at Royal Birkdale, which has drawn the most ticket applications since St Andrews in 2022. Alistair Dunsmuir’s full report can be read here.
WYNDHAM CHAMPIONSHIP SPONSORSHIP TALKS CONTINUE AS 2026 DEAL NEARS EXPIRY
The PGA Tour’s Wyndham Championship, one of the tour’s longest-running title partnerships since 2007, is in active discussions for an extension beyond its current deal, which expires after the 2026 tournament.
Tournament executive director Mark Brazil confirmed talks are ongoing and will resume post-event. While several other sponsorships—including the Sony Open and Charles Schwab Challenge—are also set to expire next year, renewals have yet to be finalized.
Amid a reshaped FedExCup qualification structure, the Wyndham Championship remains a pivotal stop on the calendar as players vie for top-50 finishes to secure entry into the following season’s Signature Events.
Cameron Young claimed his first PGA Tour title and became the tour’s 1000 unique winner last Sunday. More details on how the PGA Tour’s sponsorship agreements and expiry dates can be found here.
LIV GOLF TO OPEN 2026 SEASON UNDER THE LIGHTS IN RIYADH WITH ROSHN GROUP
LIV Golf will kick off its 2026 season in Saudi Arabia with LIV Golf Riyadh presented by ROSHN Group, returning to the capital’s Riyadh Golf Club from February 5–7.
Following its 2025 debut, LIV’s first-ever event played under lights, the tournament promises to offer more off-course entertainment for fans.
Backed by ROSHN Group, the Kingdom’s leading real estate developer and a global Pillar Partner of LIV Golf, the 2026 opener will showcase the continued development of youth engagement through the joint “Rising Stars” program, which mentors Saudi juniors via coaching, player meetups, and educational sessions.
LIV Golf also confirmed this week that it will be returning to Valderrama, Spain, and Virginia next season. More details and ticket/corporate enquiries can be found here.
DP WORLD TOUR AND NEXO LAUNCH ROLLING COURSE RECORD PRIZE AT NEXO CHAMPIONSHIP
The DP World Tour and Nexo have unveiled the Course Record Presented by Nexo, a first-of-its-kind rolling prize fund rewarding players who set new course records during eligible tournaments.
Debuting this week at the Nexo Championship at Trump International Golf Links in Aberdeen, the initiative features a $10,000 prize that rolls over weekly if unclaimed, growing until a course record is officially set and stands by the tournament's close.
To mark the launch, Nexo is offering an additional $50,000 in NEXO Tokens exclusively for a new course record at this week’s event.
The prize will reset after each successful record and continue until the season-ending DP World Tour Championship. With ten records set in 2024 and seven already in 2025, the incentive is expected to add excitement to the Race to Dubai calendar.
The initiative also reinforces Nexo’s growing role in elite golf, following its recent designation as the Tour’s Official Digital Wealth Platform through 2027. Further information on Nexo’s new prize fund for course records can be found on the DP World Tour.
EQUIPMENT
CALLAWAY TO RELEASE OPUS SP WEDGES WITH NEW SPIN POCKET TECHNOLOGY
Callaway Golf has introduced its new Opus SP wedges, featuring Spin Pocket Construction, a redesigned two-piece head that shifts mass upward to raise the center of gravity for lower launch and increased spin control.
Engineered for players seeking precision when flighting shots or attacking tight pins, the Opus SP also debuts Spin Gen 2.0 Face technology: a 17-degree groove angle with tighter spacing and a deeper laser-etched crosshatch for maximum friction and consistent spin across varying lies.
The wedges adopt Callaway’s final Shape 6 profile, refined through six prototype iterations, and offer progressive shaping in the gap wedge to ensure a smooth transition with modern iron sets.
Five grind options will be available—S, T, C, W, and the returning X Grind—when the Opus SP wedges will be available in Satin Chrome or QPQ Black finish, and hit retailers on August 22nd, priced at $199.99 (steel) and $209.99 (graphite). Ordering options are available at Callaway Golf in the lead-up to the August 22nd release date.
PEOPLE TO WATCH
IAN BAKER-FINCH SIGNED OFF FROM CBS SPORTS ON SUNDAY, CAPPING A 30-YEAR BROADCASTING CAREER COVERING THE PGA TOUR. The 1991 Open Champion at Royal Birkdale transitioned seamlessly from player to commentator, spending 19 years with CBS. Renowned for his warmth, insight, and storytelling, Baker-Finch brought a “less is more” philosophy to the booth. Reflecting on his decision to step away, he said, “It’s the best I’ve felt in a long time.” Highlights from Baker-Finch’s career outside and inside the commentary booth can be found here.
MIKE PENNICK HAS BEEN APPOINTED CHIEF COMMERCIAL OFFICER OF NORWEGIAN GOLF TECH STARTUP ALBA, EFFECTIVE SEPTEMBER 1.
Originally from Holywood, Northern Ireland, Pennick brings global experience from leadership roles at Google, Expedia, and AutoStore. His appointment comes as Alba prepares for international expansion, having secured over 80% of Norway’s golf simulator market in just 12 months. Golf Business Technology.MIMI RHODES HAS BEEN NAMED OFFICIAL TOURING PROFESSIONAL AMBASSADOR FOR SOTOGRANDE IN A NEW PARTNERSHIP. Currently ranked number 1 on the Ladies European Tour and boasting three victories this season, Rhodes is a strong contender for the 2025 Order of Merit. The collaboration marks a homecoming for Rhodes, who grew up playing and practicing in Sotogrande’s world-class facilities. Her connection to the destination reinforces its reputation as a hub for elite golf. More details of Rhodes’ ambassadorial role for Sotogrande can be found here.
SIMON BUCKLE HAS BEEN APPOINTED GENERAL MANAGER AND DIRECTOR OF GOLF AT MEDALIST GOLF CLUB, EFFECTIVE MID-SEPTEMBER 2025. The prestigious private club in Hobe Sound, Florida, will benefit from Buckle’s deep industry experience and award-winning leadership. He most recently served as Director of Golf at Houston Country Club, following successful tenures at The Silverleaf Club and Brook Hollow Golf Club. A PGA Class A member for over two decades, Buckle was named Northern Texas PGA Golf Professional of the Year in 2020 for his mentorship and service to the game. More details of Buckle’s background and what he brings to the Medalist can be found here.
PopStroke: Tiger Woods’ Scalable Golf Venture Is Reshaping the Game Experience
A New Chapter in Golf’s Evolution
Golf is in the midst of a quiet revolution.
Once reserved for private clubs and patient players, the sport is being redefined by new formats that emphasize speed, inclusivity, and entertainment. Among the most prominent forces driving this change is PopStroke — a putting-focused hospitality venture co-owned by Tiger Woods, offering premium courses, digital convenience, and a casual social atmosphere.
Part golf, part lifestyle venue, PopStroke has quickly evolved into a scalable national business targeting both golf purists and a much broader recreational market. In doing so, it is expanding the definition of who a “golfer” can be—and how much time that experience should take.
Origins: A Strategic Partnership of Vision and Legacy
Founded in 2018 by former Wall Street executive Greg Bartoli, PopStroke began as a response to the limitations of traditional mini-golf. Bartoli envisioned a high-end, skill-based putting environment supported by hospitality, mobile technology, and flexible pricing.
His vision found the ideal partner in Tiger Woods, who formally joined the venture in 2020. Through his design firm, TGR Design, Woods has contributed more than just brand equity. His courses feature complex green shapes, realistic contours, and thoughtful aesthetics aimed at engaging both first-timers and competitive players.
This partnership helped frame PopStroke as a legitimate extension of the sport—not a novelty act, but an introduction to the art of putting with modern convenience and broad appeal.
Experience Design: What Sets PopStroke Apart
Each PopStroke venue offers more than just a round of golf:
Two distinct 18-hole putting courses crafted by Tiger Woods
Synthetic turf that mimics real putting surfaces
Full-service restaurant, bar, rooftop lounge, and ice cream parlor
App-based scorekeeping, ordering, and on-course food/drink delivery
Family-friendly features such as playgrounds and open-air dining
PopStroke is designed to be social, seamless, and repeatable. The combination of high-margin hospitality and low-friction recreation creates a commercially efficient model that appeals to multiple market segments—from young professionals to families and corporate event planners.
National Rollout: Venue Expansion and Customer Traffic
As of mid-2025, PopStroke operates more than 17 venues across the U.S., with additional sites under construction in key urban markets.
Notable Sites:
West Palm Beach, FL (Flagship)
A 20,000-square-foot showcase featuring rooftop VIP lounges, a sushi bar, and proximity to the airport. It opened in late 2024 and quickly became a local landmark for high-traffic social events.Sarasota, FL
Among the first venues to reach over 250,000 annual visitors, setting a new bar for operational volume and F&B performance.Katy, TX (Houston Suburb)
Opened in early 2023, it quickly established itself as a key driver of revenue in the Texas market due to strong group bookings and weekend throughput.Delray Beach, FL
Known for consistent weekday attendance and high engagement through the PopStroke app’s rewards and leaderboard system.
Across all venues, PopStroke reports that individual locations routinely attract 200,000–250,000 guests annually, with significant peaks during weekends, holidays, and school breaks. The design of the business encourages guests to stay longer, spend more per visit, and return frequently.
This consistent footfall across multiple states validates the model’s portability and scalability.
Unlock the full business case behind PopStroke, including revenue figures, valuation, how PopStroke fits into Woods’ business portfolio, and Tiger Woods’ strategic role in transforming the putting market.
