TMRW Sport announced that it has closed its Series A Investment round, led by Dynasty Equity. TMRW Sports was founded in 2022, by Tiger Woods and Rory McIlroy with former Golf Channel executive Mike McCarley. Its first project is a tech-driven team tournament, TGL. will launch on January 2025.

According to a person familiar with the terms, but not authorized to publicly comment, TMRW Sports is valued at approximately $500 million. Bloomberg reported the funding news first.

Dynasty Equity, co-founded by Jonathan Nelson & Don Cornwell, invests in sports assets. Last year purchased a minor stake in Liverpool FC. Cornwell is an observer on the board of directors of TMRW as part of their investment.

Connect is a venture capital partnership between Creative Artists Agency, a sports and entertainment agency, and New Enterprise Associates. Connect led the first fundraising round for TMRW Sports, with investors who have deep ties in the banking and sports world. They included former NHL COO John Collins, former NHL EVP Eric Grubman and former Goldman Sachs partner Eric Grubman.

TMRW Sports announced in November 2022 a larger list of investors, including team owners Arthur Blank and David Blitzer, as well as star athletes Stephen Curry and Lewis Hamilton, Alex Morgan and Shohei Ohtani, and musicians Justin Bieber and DJ Khaled.

TMRW Sports was established in order to use technology and media to push sports forward. The six TGL teams each have four golfers who will hit shots into a 3,000 square foot golf simulator screen. Once they are within 50 yard of the hole, the action will move to a 22,475 square foot customizable short game area. TGL rules include a shot-clock, and the league intends to mic up players during the action. Around the playing area, a seating area of 1,500 people has been created.

TGL was scheduled to begin play in January, but has delayed its first season until 2025, after a power outage caused the dome at the SoFi Center, Palm Beach Gardens, Fla. to deflate. The delay was caused by the required repairs.

Eben Novy-Williams contributed reporting.