A ResearchAndMarkets.com study found a year ago that the global sports technology market was valued at USD 17.9 billion in 2021 and is expected to reach USD 40.2 billion by 2026, at a CAGR of 17.5% between 2021 and 2026.
Global sports betting is estimated to be worth $3tn amidst growing legalization across the United States & the emergence of interactive betting platforms.
From this point of view, the formation of TMRW Sports, a company focused on building technology-focused ventures that feature progressive approaches to sports, media, and entertainment (pronounced “tomorrow sports”) is really a good idea.
In addition to investments from Woods, McIlroy, and McCarley, Dick Ebersol is an initial investor of TMRW Sports.
Ebersol, a sports and entertainment industry icon, is the former chairman of NBC Sports and executive producer of many of the most-watched events in television history, including the Olympics and Super Bowls.
Tiger Woods’ motivations
For Woods, TMRW Sports joins his TGR Ventures portfolio, which includes PopStroke, Full Swing Golf, TGR Design, The Woods Jupiter, and Heard. TGR unites Tiger’s entrepreneurial and philanthropic endeavors off the course under a single-parent brand driven by a mindset, method, and pursuit of mastery.
Rory McIlroy’s motivations
For McIlroy, TMRW Sports joins his Symphony Ventures portfolio, an investment partnership established by McIlroy and his team, that includes Puttery, GolfPass, GolfNow Compete, Golf Genius, Golf+, Troon Golf, Hyperice, Whoop, and Kaia Health.