GBR Tuesday | Why Golf Lite—Shorter, Smarter, Leaner—is the Industry’s Best Investment Bet
Every Tuesday and Friday Morning, We Bring You the Ten-Minute Summary of What Happened Last Week in the Golf Industry While you Were Golfing.
Good morning, GBR community,
We hope you had a great weekend and are ready for the week ahead.
Today, we’re honored to feature a guest op-ed from Matt Tamburro, Head of Venture at Old Tom Capital — the leading investment firm in golf.
In this exclusive piece for our paid subscribers, Tamburro builds on the thesis from Matt Erley’s March article, “Beyond the Boom, Why Golf’s Growth Has Staying Power,” to make a sharp case for Golf Lite — a fast-rising segment of short courses, par-3s, and modern practice ranges. He shows how this shift is transforming not just how people play, but how smart money moves in the game.
But first — Topgolf Callaway sells Jack Wolfskin to Anta Sports for $290 million, and the rest of the news:
Industry
Circuits
Equipment
Just for Paid Subscribers: Golf Lite Is Booming — And Investors Are Paying Attention
1. INDUSTRY
TOPGOLF CALLAWAY SELLS JACK WOLFSKIN TO ANTA SPORTS FOR $290 MILLION
Topgolf Callaway Brands Corp. has finalized the sale of its Jack Wolfskin outdoor apparel business to Anta Sports for $290 million, marking a key step in its strategy to streamline operations ahead of the planned separation of its Topgolf and Callaway Golf divisions. The transaction, effective May 31, 2025, follows Callaway’s original acquisition of Jack Wolfskin in 2019 for approximately $476 million. Anta Sports, China’s leading sportswear group and major shareholder in Amer Sports—parent company of Arc’teryx, Salomon, and Wilson—sees the acquisition as a way to strengthen its global outdoor portfolio and capitalize on Jack Wolfskin’s design and material expertise. Topgolf Callaway CEO Chip Brewer described the sale as a “significant milestone” that enhances the company’s financial flexibility and aligns with its renewed focus on core brands, including TravisMathew, Odyssey, and Ogio. Anta aims to leverage post-acquisition synergies in product development, supply chain, and retail as part of its ongoing global expansion. Further details can be found in SGB Media’s report.
STALK&BARREL RENEWS WHISKY PARTNERSHIP WITH GOLF CANADA AMID SURGE IN NATIONAL GOLF INTEREST
Stalk&Barrel Whisky has renewed its partnership with Golf Canada, reaffirming its role as the Official Canadian Whisky of the RBC Canadian Open and CPKC Women’s Open. The Ontario-based distillery will maintain a strong on-site presence at both national championships through signage, broadcast integrations, and whisky tastings, while launching a wider content-driven campaign to engage fans online. With Canadian golf experiencing unprecedented growth—six million active players, rising broadcast viewership, and a record seven Canadians in the field at The Players Championship, Stalk&Barrel’s continued investment aligns with a sport on the rise. Senior Brand Manager Karen Lai Drake said the collaboration celebrates “Canadian excellence—on the green and in the glass.” The partnership underscores shared values of heritage, craft, and community, positioning Stalk&Barrel to capitalize on the $14 billion golf-related consumer market, as demand grows for refined, local alternatives at the 19th hole. You can find out more about Stalk&Barrel’s partnership with Golf Canada here.
THE R&A PARTNERS WITH STEPHEN CURRY’S UNDERRATED GOLF TOUR TO DRIVE GLOBAL INCLUSIVITY IN THE SPORT
The R&A has entered into a new partnership with the UNDERRATED Golf European Tour, a junior golf initiative founded by NBA star Stephen Curry, to promote inclusivity and expand access for young players across the sport. As part of the collaboration, Curry has been named a Global Golf Development Ambassador for The R&A, alongside former Ladies European Tour professional and broadcaster Henni Zuël, who also serves as a European Ambassador for the UNDERRATED Tour. The partnership aims to break down barriers, champion diversity, and open new pathways into golf for both girls and boys from all backgrounds. The initiative will leverage the influence of both Curry and Zuël to inspire the next generation and amplify the reach of development programmes worldwide. The R&A’s Chief Development Officer Phil Anderton described the collaboration as a significant step toward creating a more accessible and appealing game, with a focus on long-term impact and meaningful change across the sport. More details on the partnership between the R&A and the UNDERRATED Tour can be found here.
REYNOLDS LAKE OCONEE TO OPEN EIGHTH GOLF COURSE, FENMOOR, IN 2026
Reynolds Lake Oconee has announced plans for Fenmoor Golf Club, its eighth course and third private, member-only layout, with a grand opening slated for Fall 2026. Designed by acclaimed architect Steve Smyers, Fenmoor is being built in the northeast corner of the 12,000-acre community and will feature dramatic elevation changes, native grasses, and extensive water features drawn from nearby Lake Oconee and Richland Creek. Nine greens will border the lake, with water visible from much of the routing. The announcement follows a 44% increase in annual rounds played at Reynolds compared to pre-pandemic levels, driven by rising golf demand among the community’s growing, younger resident base. Fenmoor will include a clubhouse with dining and locker facilities, a putting course, and expanded short-game practice areas. Once complete, Reynolds will offer 144 holes of golf, ranking among the largest U.S. golf destinations, behind only Pinehurst and Boyne. More information on plans for Fenmoor can be found in Erik Matuszewski’s article for Forbes.
PGTAA DRIVES SURGE IN FEMALE GOLF INSTRUCTORS AS WOMEN’S PARTICIPATION HITS RECORD HIGHS
With nearly 8 million women and girls playing golf in the U.S. in 2024—up 41% since 2019—the Professional Golf Teachers Association of America (PGTAA) is emerging as a viable alternative to PGA training for aspiring female golf instructors. As women now make up 28% of all on-course golfers and have driven 60% of the sport’s net participation growth in the past five years, the PGTAA’s accessible, self-paced programs offer a clear path to professional instruction without the high costs or rigid structures of traditional routes. Under the leadership of Dr. Barry Lotz, the PGTAA is helping women turn their passion into a profession through industry-recognized credentials, business training, and mentorship. Notable certified instructors include former LPGA player Belen Mozo and top-ranked teacher Mickie Joyce, among a growing network of women working in golf education. More information on the PGTAA can be found here.
KEMPERSPORTS LAUNCHES NATIONAL HOLE-IN-ONE PROMOTION WITH STREAMSONG RESORT PRIZE
KemperSports has unveiled its new Hole-in-One Promotion, offering golfers who ace a hole at participating KemperSports-owned or -managed courses between June 1 and December 31, 2025, the chance to win a complimentary stay and round of golf at Florida’s acclaimed Streamsong Golf Resort. Players must register via QR code at their course or www.KemperClub.com/HoleInOne before their round. Winners will receive a certificate valid for a one-night stay and one round at any of Streamsong’s award-winning courses, with the option to extend their trip at a discounted rate and bring a guest at reduced pricing. The prize must be redeemed by December 31, 2026, subject to availability. The promotion celebrates the rarity of a hole-in-one while enhancing the golfer experience across KemperSports' nationwide portfolio.
SELECT GROUP ACQUIRES OLD THORNS HOTEL & RESORT IN STRATEGIC UK EXPANSION
Select Group, the Dubai-based international investment firm, has acquired Old Thorns Hotel & Resort in Hampshire, England, marking a significant step in its strategy to grow its presence in the UK’s leisure and hospitality sector. Spanning 317 acres of scenic countryside, the resort features an 18-hole championship golf course, 150 hotel rooms, 51 executive apartments, a conference centre, and a robust food and beverage offering. Described by Select Group Chairman Rahail Aslam as a “key addition” to the firm’s UK portfolio, the acquisition strengthens the group’s foothold in the premium golf resort market. The deal follows a complex legal process and sets the stage for a phased enhancement plan focused on delivering improved services, upgrading amenities, and creating long-term value. Select Group has pledged to work closely with the existing team to ensure operational continuity and build on the resort’s established reputation as a leading regional destination. You can read more about the Select Group’s purchase of Old Thorns Hotel & Resort in Alistair Dunsmuir’s article in The Golf Business.
2. CIRCUITS
JOHN DEERE EXTENDS PGA TOUR TITLE SPONSORSHIP THROUGH 2030
John Deere has signed a multi-year extension to remain the title sponsor of the John Deere Classic through 2030, reinforcing one of the PGA Tour’s longest-running partnerships. The deal, announced Monday by the PGA Tour, Deere & Company, and the Quad Cities Golf Classic Charitable Foundation, also continues Deere’s role as Official Golf Course Equipment Supplier and utility vehicle provider across the PGA Tour and TPC Network. Since assuming title sponsorship in 1998, John Deere has helped raise over $189 million for charity, accounting for 99% of the tournament’s total charitable output, and an estimated $70 million annually for the Quad Cities economy. Held at TPC Deere Run since 2000, the course was built near Deere’s world headquarters and designed with respect for the land’s historical and cultural significance. The tournament has launched the careers of players like Jordan Spieth and, in 2024, saw Davis Thompson capture his first Tour win with a record-setting 28-under finish. More news on John Deere’s renewed sponsorship with the PGA Tour can be found here.
GOLF FOUNDATION NAMED OFFICIAL CHARITY FOR 2025 BMW PGA CHAMPIONSHIP
The Golf Foundation has been confirmed as the official charity of the 2025 BMW PGA Championship, deepening its partnership with the DP World Tour and BMW in support of youth mental wellbeing. The announcement follows years of collaboration, including community outreach and event activations. It builds on the success of the Foundation’s “Unleash Your Drive in Schools” programme, which debuted at the 2023 Championship. Backed by BMW and now involving over 1,500 registered schools, the initiative uses golf-based games to promote mental resilience and wellbeing among young people. In 2024, BMW raised £89,000 through its Eagles For Education campaign, donating £1,000 for every eagle made during the tournament—a scheme set to continue this year. The 2025 Championship, scheduled for 11–14 September at Wentworth Club, will also feature a range of fundraising activations for the Foundation, including the Mega Putt Challenge, chipping zone, and new family engagement areas in the Spectator Village. More news on the Golf Foundation being named as the official charity for the DP World Tour’s BMW Championship can be found here.
LOUISIANA EARMARKS $7 MILLION IN PUBLIC FUNDS TO HOST LIV GOLF TOURNAMENT IN NEW ORLEANS
The Louisiana Legislature is preparing to allocate at least $7 million in state funds to bring the Saudi-backed LIV Golf League to New Orleans in the summer of 2026, marking a controversial move aimed at boosting off-season tourism. The funding, inserted into the proposed $49 billion state budget by the Senate Finance Committee, includes $5 million in direct payments to LIV Golf as a hosting fee and $2 million for upgrades to the Bayou Oaks course at City Park, the planned venue for the tournament. Senate President Cameron Henry confirmed the request came from the Louisiana Economic Development agency under Governor Jeff Landry, with expectations that the event will generate around $60 million in local spending. The investment will be drawn from the state’s Major Events Incentive Fund, which has previously been used to attract high-profile events, such as the Super Bowl and NCAA Final Four. The fund will also support other events in the upcoming fiscal year, including the U.S. Bowling Congress ($5 million) and UFC ($1.5 million). More on Louisiana’s plans to host an LIV Golf event next year can be found in Julie O’Donoghue’s report for KPLC here.
MIZUNO UNVEILS NEXT-GENERATION DP WORLD TOUR TRUCK TO ELEVATE TOUR SUPPORT AND BRAND PRESENCE
Mizuno has launched a cutting-edge DP World Tour Truck, replacing its 15-year-old predecessor with a fully reimagined mobile facility designed to enhance tour operations and amplify brand visibility. Measuring 17.5 metres long and expanding to nearly 5 metres wide, the truck features three dedicated zones: a 23-square-metre workshop for on-site club building and personalisation, a 13.5-square-metre player service area equipped with tournament-week essentials, and a 14.8-square-metre modular office and showroom space. While purpose-built for the DP World Tour, the vehicle will also support R&A and LET events, feeder tours, and broader brand initiatives under Mizuno’s “Young Lions” talent strategy. Beyond golf, the truck will appear at EMEA sporting events to promote other Mizuno categories such as running. More on Mizuno’s new tour truck can be found in Dan Owen’s article for Golf Retailing.
MOTOROLA SOLUTIONS NAMED OFFICIAL SAFETY TECHNOLOGY SUPPLIER FOR 2025 AND 2027 RYDER CUPS
Motorola Solutions has been appointed the Official Safety Technology Supplier for the 2025 and 2027 Ryder Cups, bringing its advanced communications and video security systems to golf’s premier team competition. The technology will be deployed at Bethpage Black in New York and Adare Manor in Ireland, where combined attendance is expected to surpass 250,000 fans from over 100 countries. In partnership with the PGA of America, Ryder Cup Europe, and local public safety agencies, Motorola will provide two-way radios for event and security personnel, as well as AI-powered video surveillance across both venues. The company will also equip the U.S. and European teams with dedicated, secure radios to facilitate real-time, strategic communication between players and Captains during matches. More details on Motorola’s involvement with the next two Ryder Cups can be found here.
3. EQUIPMENT
TITLEIST LAUNCHES AVX AND TOUR SOFT AIM 360 BALLS WITH FULL ALIGNMENT MARKING
Titleist has expanded its AIM (Alignment Integrated Marking) lineup with the launch of the new AVX and Tour Soft AIM 360 golf balls, both featuring a bold 360-degree alignment aid designed to enhance precision on the greens and off the tee. Responding to growing demand from players seeking visual alignment tools, the AIM 360 models are the first in the AVX and Tour Soft lines to offer a continuous alignment line. Internal testing showed all AIM designs improved alignment precision by up to 35% compared to the standard Pro V1 sidestamp. The new models join Titleist’s existing AIM offerings—Pro V1, Pro V1x, and Pro V1x Left Dash—and are now available in golf shops and online. According to Titleist’s Director of Golf Ball Product Management, Frederick Waddell, the AIM 360 design provides “a distinct performance advantage,” offering players improved accuracy along with the trusted performance profiles of AVX and Tour Soft. Available now, the AVX AIM 360 retails for $50 (£40, €45), while the Tour Soft retails for $40 (£30, €35). More information is available at Titleist.
4. JUST FOR PAID SUBSCRIBERS
WHY THE FUTURE OF THE GAME LIVES BEYOND THE COURSE
Earlier this year, we wrote about why golf’s post-pandemic surge isn’t a flash in the pan but the beginning of a sustained, structural shift. In that piece—Beyond the Boom: Why Golf’s Growth Has Staying Power—we highlighted how innovation in format, technology, and lifestyle integration was fueling a new era for the sport.
This piece is a continuation of that thesis. Because part of golf’s staying power hinges on something deeper: the rise of Golf Lite.
At Old Tom Capital, we believe Golf Lite—short courses, par-3s, and driving ranges built for modern players—represents the most resilient and investable segment in the game today. It combines authentic golf with accessible design, strong consumer demand with repeatable operating models. And in doing so, it unlocks long-term tailwinds that Golf Entertainment and traditional courses struggle to match.
Golf Lite Is Golf—Made for the Modern Player
Time, access, and approachability have always been golf’s biggest friction points. Golf Lite is solving for all three.
Shorter Formats, Higher Throughput: Nine-hole loops, par-3 layouts, and tech-enabled ranges let players fit in a session without blocking half their day.
Low Friction, High Habit: These venues attract players across skill levels with a simple proposition: come as you are, and come often.
Skill Over Spectacle: Unlike entertainment-first models, Golf Lite centers the sport. It enables real improvement and builds authentic attachment to the game.
Where Golf Entertainment chases virality, Golf Lite builds fidelity.
Scarcity-Backed Moats, Not Trend-Driven Hype
The growth story in Golf Lite isn’t just demand-led—it’s supply-constrained.
The number of independent driving ranges, par-3s, and short courses in the U.S. remains limited, despite widespread off-course golf participation. Why? Real estate barriers, zoning complexity, and legacy developer bias toward 18-hole formats have all slowed new builds.
This structural scarcity has created a compelling dynamic:
High utilization and repeat traffic at existing sites
Minimal need for discounts or gimmicks
Geographic defensibility, with real estate acting as a natural moat
Where entertainment venues risk oversaturation, Golf Lite earns operating leverage through constraint .
A Leaner, Smarter Business Model
Golf Lite isn’t just more playable—it’s more investable.