Weekly | Tiger Blesses a Future Between PGA and LIV Together, His New Sun-Day Red Clothing Line Has the Golf World Talking and Topgolf Callaway's Losses vs. Acushnet's Growth
Get the latest on Tiger's thoughts on PGA/LIV, the Sun-Day Red launch, stock market updates, LPGA's new sponsor, TaylorMade's latest balls, Spieth's legal woes and Full Swing's return.
Get your coffee and prepare for a quick summary of this week's golf industry highlights.
Our dedicated writers have combed through 45 industry publications, 30+ news sites, a dozen golf newsletters, and top podcasts. In less than 10 minutes, you'll be up to speed on the latest happenings. Let's dive into the past 7 days in our industry.
This week, you will learn about:
Updates and comments from Tiger surrounding PGA Tour Enterprises, LIV Golf, and the Public Investment Fund
Sun-Day Red makes its debut to the world at the Genesis Invitational
Stock Updates from Two Top Golf Companies
LPGA Picks Up New Big Title Sponsor
TaylorMade Releases New TP5 / TP5x Golf Balls
Jordan Spieth Gets Caught in the Middle of Under Armour Law Suit
Netflix hit series, Full Swing, is Back
AI comes to Golf to Help Players Learn the Complicated Rules
Let´s go!!!
🚩Tiger Woods and SSG´s Arthur Blank Speak on Future Direction Amidst Saudi Investment Scrutiny and Player Reconciliation Talks
Tiger Woods, speaking ahead of the Genesis Open, acknowledged the possibility of striking a deal with Saudi Arabia's Public Investment Fund (PIF), the primary investor behind LIV Golf. However, while open to collaboration, Woods expressed confidence in the newly formed PGA Tour Enterprises, indicating that he believes they don't require assistance from the PIF, especially after finalizing a deal with Strategic Sports Group.
Woods emphasized the desire for PIF to become a part of their Tour and product, noting that while financial alignment isn't current, the initial framework agreement's terms remain consistent.
He hinted at potential enhancements to the Tour's offerings in both the short and long term. However, Woods did not delve into specifics regarding the future direction of PGA Tour Enterprises in response to reporters, stating:
“We're looking at a very different -- varying degrees of ideas and what that looks like in the short term, we don't know.”
“We don't even know in the longer term what that looks like. Trust me, there's daily, weekly emails and talks about this and what this looks like for our tour going forward.”
As the de facto commissions of the PGA Tour’s policy board it genuinly seems like Tiger doesn’t know the exact short or long term direction of the tour. He emphasized the policy board's commitment to preserving the tour's essence—the history, tradition, pathways, and accessibility that have defined it. This steadfast dedication remains unchanged despite any future alterations, underscoring the primary objective of the partnership with the SSG.
In addition to comments on the PIF, LIV, and future direction of the PGA Tour Tiger also spoke to his personal playing situation stating:
“I still love competing, I love playing, I love being a part of the game of golf. This is the game of a lifetime and I don't ever want to stop playing.
💡In other PGA Tour enterprises news…
Arthur Blank, owner of the Atlanta Falcons and one of the three principals in the Strategic Sports Group, contributed insights regarding potential alterations to the PGA Tour. While he didn't address his stance on the public investment fund directly, Blank highlighted how the group's investment would significantly impact the organization's non-profit tax structure, signaling forthcoming major changes.
Blank expressed optimism about the PGA Tour's potential transition from a nonprofit to a for-profit model, emphasizing the importance of playes selecting partners who can contribute to the Tour's growth. He encouraged players to prioritize partners who offer valuable business expertise, life experience, and sports perspective to elevate the Tour as a platform which will put more money is their pockets.
However, there seems to be confusion surrounding the investment made by the Strategic Sports Group (SSG) in PGA Tour Enterprises. It originally appeared that the investment was directed towards the Tour’s many for-profit entities separate from the nonprofit tournament structure. The nature of Blank’s remarks raises concerns about the redirection of revenue that previously supported charitable causes, potentially impacting communities and individuals who benefited from these contributions.
Blank's statements neither establish definitive outcomes nor provide clarity, but they do inject fresh complexities into the discourse on the future of professional golf. Although his enthusiasm for potential partnerships is encouraging, they bring up lingering uncertainties surround the ultimate objectives of the SSG. His messaging seems to steer players towards considering all for-profit endeavors, potentially diverting funds from charities traditionally supported by the tour.
⛔U.S. Legislature Keeps Fighting over PIFs Interest in PGA Tour
Senator Richard Blumenthal (D-Conn) is leading a Senate investigation into Saudi Arabia's investments in the U.S., particularly focusing on the kingdom's influence in the sport of golf.
Blumenthal has expressed concerns about Saudi involvement in a prospective $3 billion deal with American sports magnates to support the PGA Tour's commercial operations.
He has emphasized that he was not against Saudi investment in the U.S. but he sees the need to limit Saudi control over PGA Tour's policies. The investigation has expanded to scrutinize broader Saudi investments in the U.S., involving consulting firms like McKinsey and BCG, which have faced pressure to withhold information due to legal threats from the Saudi Public Investment Fund (PIF). Blumenthal has vowed to enforce subpoenas issued to these consulting firms through court action if necessary.
📈Everything about Tiger’s New Brand - Information + Reactions + Opinions
We have talked before about Tiger Woods recently ending his 27-year partnership with Nike and introducing his own brand, Sun-Day Red, at the Genesis Invitational.
Sun-Day Red is set to operate as a separate entity from TaylorMade, despite being part of the larger company. This decision marks a new chapter in Woods' career as he ventures into entrepreneurship within the golf industry through this partnership with TaylorMade. The brand aims to establish itself as a distinct entity, with its own headquarters, designers, and staff, under the leadership of Brad Blankinship, who brings valuable experience from leading surf apparel companies Quiksilver and RVCA.
David Abeles, CEO of TaylorMade Golf, emphasized that Sun-Day Red will function autonomously, without influence from TaylorMade, highlighting the brand's determination to carve out its own identity. Initially focusing on men's golf apparel, Sun-Day Red plans to expand its offerings to include lifestyle clothing suitable for various settings beyond the golf course, including women's and kids' apparel. The brand also has ambitions to venture into footwear, starting with golf shoes and expanding into other types of footwear in the future.
The brand's debut on Instagram garnered immense attention, with its initial post getting over 100k likes within the hour in addition to a rapid increase in followers on both X and Instagram accounts reflecting the enduring appeal and influence of Woods as one of the most iconic figures in modern sports.
As anticipated, Tiger’s new clothing line garnered a lot of comments through its debut this week. As you can see, reviews are very mixed around Tiger’s new brand:
“Golf Twitter isn’t real life and Tiger is going to sell a billion shirts." Ryan French, Monday Q Info.
"I'll be honest. I am super disappointed - but also not surprised. Tiger was great. Is great....At GOLF. In my opinion, Sun Day Red totally missed the mark." Adam Beach, MyGolfSpy
“I’m disproportionately irritated by it being Sun-Day Red rather than Sunday. Jamie Wier, Sky Sports Golf.
“This brand is a 10/10. Comments are closed!" Matthew Wiley, bloc MKTG founder
In case you are wondering the brand is “Sun-Day Red” and not “Sunday Red” because a guy named Earnest Harrisons has had a trademark on “Sunday Red” since 2009, so Tiger is not allowed to use it. A lot of people in the world of golf are questioning the execution of the debut of the Sun-Day Red line. Many people feel that there wasn’t much thought put into the minimalist logo and that is was just simply slapped on some polos. Tiger’s new website claims that the brand will redefine what golfers expect for their attire, the jury is still out on this one heading up to their official May launch date.
📊 Topgolf Loses Grip, Acushnet (Titleist and FJ) Swings into Profits: Investment Update
Topgolf Callaway Brands Corp. (MODG) reported a loss of $77.1 million in the fourth quarter, equating to a loss of 42 cents per share, though adjusted losses were 30 cents per share, surpassing Wall Street's expectations. Revenue for the period reached $897.1 million, exceeding analysts' forecasts. For the year, the company reported a profit of $95 million, or 50 cents per share, with revenue totaling $4.28 billion. Looking ahead to the current quarter, Topgolf Callaway anticipates revenue in the range of $1.14 billion to $1.16 billion, with full-year earnings projected between 26 cents to 34 cents per share and revenue from $4.51 billion to $4.56 billion.
Meanwhile, Acushnet Holdings Corp. (NYSE:GOLF) has seen strong performance, reaching a 52-week high of $69.34, driven by consistent positive earnings surprises and favorable future earnings estimates, leading to a Zacks Rank of #2 (Buy), suggesting potential for further growth in the near term.
✔️Ford - The New Title Sponsor for a Big Time LPGA Tour Event
The LPGA secured Ford Motor Company as the new title sponsor for their upcoming tournament in Arizona, marking a significant financial boost for the organization. The Ford Championship will take place at Seville Country Club in Gilbert, Arizona March 28-31 with the LPGA returning to the state after a hiatus since the Founders Cup moved in 2021. The tournament reflects the LPGA's increasing financial momentum, with last year's total purses amounting to $108 million, compared to this year's $118 million. LPGA Commissioner Mollie Marcoux Samaan emphasized the symbolic importance of the sponsorship, highlighting the growth and value of women's sports.
✔️TaylorMade Releases Latest Versions of the TP5 and TP5x
TaylorMade has launched the latest versions of its TP5 and TP5x golf balls, boasting an all-new Speed Wrapped Core that enhances sound, feel, and overall performance, making them the fastest (TP5x) and softest feeling (TP5) tour balls in TaylorMade's history.
Building upon the success of the franchise since its debut in 2017, the new TP5/TP5x balls feature breakthrough technologies, including the Speed-Layer System and Tour Flight Dimple Pattern, to maximize distance, wind stability, and greenside control.
✔️Jordan Spieth Intends to Squash a Subpoena In Under Armour’s Shoe Case
Jordan Spieth is pushing back against a subpoena from Athalonz, a golf shoe company suing Under Armour for patent infringement, citing his lack of expertise in the technical aspects of shoe design. Not directly involved in the litigation, Spieth highlights his promotional role with Under Armour and argues that complying with the subpoena would be burdensome due to his busy schedule as a professional golfer. He references past cases where celebrities successfully avoided similar subpoenas related to product endorsements, emphasizing that Athalonz could obtain the information they seek from Under Armour directly.
✔️Full Swing Is Coming Back for Season Three
Netflix's "Full Swing" golf docuseries will be returning for a third season in 2025, with filming already underway in Phoenix. Executive producer Chad Mumm hinted at the new season with a social media post celebrating Nick Taylor's win at the WM Phoenix Open, and subsequent confirmation from a source solidified the news. Season 2 is set to premiere on Netflix on March 6, with anticipation building for the upcoming installment.
🚀People to Watch this Week
Play Today has developed Golf Ai, aiming to simplify golf rules and enhance player engagement. Leveraging a comprehensive rules dataset on Open Ai, their system achieves 88% accuracy, with a goal of reaching 99%. By collaborating with leading golf rules officials, Play Today plans to integrate this technology into GPS scoring apps, golf carts, and other golf industry platforms, making the game more accessible to all levels of players.
Patrick Crumb transitions to lead TNT Sports' new division, Sports Ventures, after heading the RSN division. The new unit will oversee Golf Digest, NBA Digital, and NCAA Digital, along with investing in emerging sports and leagues.
CBS's Verne Lundquist plans to retire after his 40th Masters in April, ending a storied career at Augusta National. Lundquist, a fixture at the Masters since 1983, is renowned for his commentary from the 16th hole.
Ladies European Tour golfer Amy Boulden partners with OnlyFans for the 2024 season, wearing branded attire and sharing exclusive content. Boulden's collaboration aims to connect directly with fans, offering insights into her life as a professional golfer.
To close out, check out these reads…
Tiger Woods has had several caddies, including Mike Cowan and Steve Williams, supporting him throughout his illustrious career, contributing to his 15 Major victories.
Sean McManus is retiring as chairman of CBS Sports following this year’s Masters.
Golf’s Hidden Problem: How Tee Time Cancelations are wrecking havoc on golf courses nationwide.
Joe Pompliano's Substack newsletter discusses the recently revealed sports streaming collaboration among ESPN, Fox, and Warner Bros.
That’s all for today, folks.
Have a good one!!!