With just two months until it launches, the TGL not only has some of the game’s best players, but some serious financial clout behind it thanks to investment in its teams from big hitters in the business world.
Avenue Capital Group CEO Marc Lasry, NBA stars Steph Curry, Klay Thompson and Andre Iguodala have joined forces to buy TGL San Francisco, and Lasry has now offered some idea as to how deep your pockets need to be to purchase one of the six franchises.
Lasry appeared on CNBC’s Closing Bell to discuss the move and was asked how much he paid. He responded: “I can say it was less than $100m, is that fair? I’ll say it was less than $100m, it was more than $25m - it was less than $100m.”
While that’s a broad range, even the lowest price represents a sizeable chunk of cash, even if you’re a billionaire like Lasry. However, he is confident it’ll be money well spent, and explained how the TGL can appeal to an audience beyond traditional golf fans.
“I think it’s got the possibility of being something huge,” says Marc Lasry, Avenue Capital Group CEO, of the @TGL. He discusses Avenue’s launch of a new sports investment fund & the decision to partner with @StephenCurry30 to buy their own team: TGL San Francisco. pic.twitter.com/ilMG6Tsk8INovember 6, 2023
“The attraction is really simple,” he said. “What we're trying to do is make golf available for people to watch over two hours. Do it in prime time. Do it where it’s virtual so you’re going to see the players hitting the ball right away and then they step up so you’re not wasting - I shouldn’t say wasting time, you're not watching people walk, right?”
From what we know about the TGL, that vision looks set to become reality as the action will take place in a stadium with real grass and a screen 20x bigger than normal simulators. Meanwhile, each week two teams will compete over 15 holes in two hours, while there will also be a shot clock and referee.
Lasry then explained why the format should appeal to viewers who might not typically be interested in golf. He continued: “I think one of the problems that people have with golf, unless you’re a huge golf fan, is it takes too long, so what we’re trying to do is have a league where everything is going to happen within two hours and I think that’s what’s going to hopefully appeal to people, and will see, right? That’s the bet.”
Even with the news that World No.3 Jon Rahm had pulled out of the TGL’s inaugural season, there are plenty of big names on the roster, including two-time Major winners Justin Thomas and Collin Morikawa and 2022 US Open champion Matt Fitzpatrick, as well as co-founders Rory McIlroy and Tiger Woods.
Lasry said he thinks players of that calibre, combined with the TGL’s fast-paced action, could make it a big success. He said: “I think you’re going to find that people’s attention span is actually shorter, so they’re going to want to be involved in something like this. We have all the best golfers. Rory’s in it, Tiger’s in it, a number of other golfers, so I think it’s got the possibility of being something huge.”
Fans eager to see what the TGL offers don't have too much longer to wait. The first event is on 9 January, with coverage on ESPN and ESPN+.
