Hi, GBR community,
It’s time again to bring you the latest important golf industry news in bite-size format to mull over while taking a break with your favorite drink in hand.
Let’s get into what to expect from this week’s edition:
LIV/CAA - sports agency powerhouse CAA has been working on securing LIV prime sponsors and TV rights ahead of 2025.
East Lake is ready for Tour Championship - an extensive revamping of the course plus new hospitality experiences will enhance FedEx Cup’s final stop.
TGL announces partnership with Toptracer - Toptracer becomes the official ball-tracking technology of the tech-focused golf league.
Topgolf/Callaway not out of the woods - new analysis report recommends investors to hold tight until the company’s future is made clearer.
PGA Tour and Coca-Cola - long-standing partnership extended and new features announced.
Bettinardi’s Monopoly-based limited editions - hit the market this week, featuring special putter and headcover designs based on the popular board game.
Bradley wins - Ryder Cup captain Keegan Bradley captures his second BMW Championship.
Ko continues to win - it’s been quite the month for Lydia Ko. First, she captured gold at the Olympics, and on Sunday, she added her third major title at the AIG Women’s Open.
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LIV And CAA Form Strategic Partnership
Since early this year, sports agency specialist CAA Sports has been quietly working behind the scenes with LIV Golf.
CAA’s mandate is to secure high-profile sponsorships in key industries like financial services and technology for LIV Golf. These partnerships have been prioritized to solidify the financial backbone of the league’s ambitious plans.
Josh Carpenter, reporting in Sports Business Journal, noted that according to sources, the work with CAA is bringing LIV Golf:
Five major “pillar” sponsors, each potentially bringing in as much as $12 million annually.
For smaller, yet still significant, league-level deals, the league is seeking between $5 million and $7 million per year.
This collaboration, first revealed by Front Office Sports, underscores LIV’s commitment to establishing itself as a mainstay in the competitive golf landscape, regardless of the ongoing negotiations between the PGA Tour, DP World Tour, and PIF.
While LIV has secured EasyPost as its first official domestic partner in early 2023 and boasts existing partnerships with brands like Panini and New Era, there’s a clear push for more prominent sponsorships to solidify its position by pursuing big-name domestic partners.
However, CAA’s involvement doesn’t stop with sponsorships.
The agency also plays a crucial role in executive searches, helping LIV recruit top industry talents such as Chief Marketing Officer Adam Harter.
Moreover, CAA’s expertise extends to media rights—a vital area as LIV’s two-year broadcasting deal with The CW Network approaches its end. Although there’s an option to extend the partnership for another year, LIV is already exploring new media partners, with CAA guiding the way.
The relationship between CAA and LIV is further deepened by key figures like Monica Fee, LIV’s Senior Vice President and Global Head of Partnerships. Fee’s history with CAA, where she spent 14 years in its brand partnerships division before joining LIV in 2021, adds a layer of trust and continuity to this collaboration.
However, this partnership comes with its challenges. Maybe the biggest and most relevant challenge is CAA’s ties with the PGA Tour.
CAA is deeply entrenched in the PGA Tour business, handling licensing and media rights and managing major events like the Farmers Insurance Open and the Zurich Classic of New Orleans.
While CAA’s work with both entities may seem to blur the lines, insiders insist that the agency’s relationship with LIV does not indicate any imminent deal between LIV and the PGA Tour.
CAA’s extensive influence in the sports world also includes advising PIF on its investments in Formula 1, which has orchestrated brand deals involving F1, Red Bull Racing, and Scuderia Alpha Tauri teams.
CAA’s experience in other sports underscores its ability to navigate complex, multi-faceted relationships—something that will be crucial as LIV Golf continues to carve out its place in the sport’s evolving landscape.
No official comments were available from either CAA, LIV, or PGA Tour.
New Golf Course, New Hospitality Experiences At Tour Championship
As the season-long FedEx Cup reaches its annual denouement with the Tour Championship, the top 30 golfers in the FedEx rankings will face a very different course from what they have been familiar with.
However, it’s not just extensive renovations that have been carried out to the golf course. East Lake will offer a much-improved hospitality experience for those attending and for the many sponsors.
The idea to regenerate the East Lake Golf Club began in 2018 when architect Andrew Green was brought on board to revamp the course. Work was halted due to the pandemic; however, as soon as the last putt was holed on the final green and Victor Hovland was crowned FedEx Cup champion, the course was closed, and the work began.
However, it’s not just extensive renovations that have been carried out to the golf course.
East Lake will offer a much-improved hospitality experience for those attending and for the many sponsors. The hospitality experience project was kick-started with the arrival of Alex Urban, who became the Tour Championship’s executive director in 2022.
Urban’s arrival marked the beginning of a new era for the Tour Championship. He and Jared Rice, the senior vice president of sales and market development for Championship Management, began brainstorming ways to use the restored East Lake to create an unparalleled hospitality experience. The result is a series of new offerings that will make this year’s event unlike any other.
Some of the highlights of the new or revamped hospitality experiences available at this year’s Tour Championship are:
The Georgian
An all-inclusive food and beverage experience set behind the eighth green and adjacent to the ninth tee. This climate-controlled venue offers fans a luxurious setting with patio seating and views of the first tee and clubhouse. With a capacity of 750 and a $4,000 price tag for a weeklong ticket, The Georgian promises to be one of the hottest spots at East Lake.
The venue is presented by PGA Tour Superstore and is filled with local food vendors, giving it a distinctly Georgian flavor. “That’s what differentiates us from other events,” Urban said. “That sense of place is key to creating an elevated experience.”
Starter Lounge
The Starter Lounge made its debut at last year’s Tour Championship.
Sponsored by NetJets, this all-inclusive lounge offers panoramic views of the first tee and comes with a $3,500 price tag.
1904 Club
Exclusive merchandise is another way the tour is enhancing the experience for its VVIP customers. At the Tour Championship, the top-tier offering is the 1904 Club, where ticket holders have access to clubhouse amenities, a terrace behind the clubhouse, and bars on the course’s front and back nines. This year, the bar on the back nine has been replaced with a full hospitality suite on the 15th hole. A pass to the 1904 Club costs $9,000, but it comes with an extra touch—valet parking that’s closer to the clubhouse than even the players’ parking spots.
Other new offerings include the Legend Suites around the 18th green and the Centennial Cabins along the seventh green, which have already sold out.
There’s also the Jones Pavilion, a reserved-seating, all-inclusive spot at the 17th hole, and the Chattahoochee Club, which, along with the Michelob Ultra Athletic Club, has been moved to a new location near the driving range.
These new hospitality offerings align perfectly with Championship Management’s broader goals. Rice and his team are aiming to create a “wow” factor with their hospitality, which they’ve split into three verticals:
Individual premium (VVIP)
Private venues
Shared venues.
The Tour Championship’s hospitality experience isn’t just about the present; it’s about the future. Late in 2023, Championship Management signed a multiyear commercial contract with Elevate, a company that will help the tour with sales and other hospitality offerings at its events. This partnership will run through the 2026 Presidents Cup, another prestigious event operated by Championship Management.
“That’s what differentiates us from other events. That sense of place is key to creating an elevated experience.” - Alex Urban, Executive Director, The Tour Championship.
“This is how seriously we take it. If there’s a question about intentional detail service, meeting a fan expectation of a wow factor at every level, that’s a fun example to cite.” - Jared Rice, Senior VP, Sales and Market Development for Championship Management.
Toptracer Technology Comes To TGL
TGL, presented by SoFi, has announced that Toptracer will be the official ball-tracing partner for the league, which will start in January 2025.
Utilizing a network of camera sensors, Toptracer will track every shot—from tee shots to approach shots—on TGL’s massive screen.
To give an idea of scale, TGL’s screen measures 64x53 feet, nearly 24 times the size of a standard golf simulator screen. Positioned 35 and 20 yards away from this giant screen, TGL’s tee boxes will allow players to simulate real-world shots in a virtual environment while Toptracer extrapolates the ball’s remaining trajectory with remarkable accuracy.
All this data isn’t just for show; it’s being fed into TGL’s sophisticated data engine, providing viewers—both those in the arena and those watching at home on ESPN and ESPN+—with in-depth insights, predictive data and learnings for every shot.
The action unfolds in the custom-built SoFi Centar, which can accommodate 1500 fans and gives them a “greenside” perspective on all the shots.
While the simulator screen deals with full shots, once players are inside 50 yards from the hole, the action switches to a custom-built 22,475-square-foot short game complex that transforms between holes.
The green complex uses advanced technology to make each hole a unique challenge for the teams. Approach angles can be changed with the aid of a 41-yard-wide turntable that rotates the green and three bunkers, as well as morphing its topography via 600 motorized actuators embedded under the synthetic putting surface.
Toptracer isn’t just a leader in the virtual space; its range of technology is integrated globally into over 1,000 driving range facilities worldwide, including the ever-popular Topgolf venues.
Beyond the range, Toptracer’s technology is used in broadcasting all major golf tournaments, making it an integral part of how fans experience the sport on television. The versatility of Toptracer was first tested in an indoor setup in Stockholm, Sweden, in 2022, which played a pivotal role in shaping the development of TGL’s playing field.
“For two years, TGL presented by SoFi has been working with Toptracer’s technology team to refine how we accurately merge live action and virtual technology. With the flexibility, accuracy, and reliability of Toptracer’s ball-tracing technology, we’re gathering an extensive amount of data on each shot to help accurately transition into the virtual landscapes of our custom-designed holes.” - Andrew Macaulay, Chief Technology Officer, TMRW Sports.
“We’ve been relentlessly collaborating with TGL over the past two years on how to deliver the best fan experience, with all our learnings from broadcasting golf’s biggest moments, our 1,000+ strong network of golf facility operators across the globe, including Topgolf, the biggest off course operator and golf governing partners.” - Scott Blevins, General Manager of Toptracer.
Topgolf Callaway Shares Slide 31%
Topgolf Callaway’s share price tumbled by 31% in August.
This represents the company’s worst performing month since March 2020, when the Covid pandemic struck, and Topgolf Callaway’s share price fell by 39.8% as the world went into lockdown.
Marketwatch reporter Tomi Kilgore produced an article that appeared on Friday, 23rd August, which centered on a research note produced by Raymond James analyst Joseph Altobello.
Altobello’s research note, entitled “Tough to make par from the bunker,” ultimately advised investors not to purchase shares in the company until there is clarity on Topgolf's future.
A second area of concern highlighted in Altobello’s research note is Topgolf’s debt position.
Altobello places Topgolf Callaway’s debt at $2.4 billion against a market capitalization of $2.1 billion, making a potential spin-off of Topgolf less attractive to potential buyers.
GBR covered the Topgolf Callaway Q2/H1 figures in our weekly edition here where we analyzed where Topgolf was struggling, which ultimately comes down to the existing “same venue” sales. Same venue refers to the legacy Topgolf facilities, which are proving to be the weight around Topgolf’s neck, a point also highlighted in Altobello’s report.
Using Topgolf’s Edison, New Jersey location, Altobello prices out a 2-hour booking for 6 people at $155 before taking any food or drink bought.
While people might pay this for the first time as a novelty factor, Altobello believes this could become less appealing in time due to the novelty factor wearing off.
Same-venue sales are also affected as a number of stimulus ideas haven’t created additional revenue. Topgolf has piloted without success:
Additional promotions
New games
Custom fitting with Callaway
Loyalty programs
Increased advertising
Streamlined reservation processes
We reported in our weekly update on 13th August the possibility that Topgolf might be put up for sale by Callaway in the coming months and that Chip Brewer, CEO of Topgolf Callaway, confirmed at the time that a review was already underway.
PGA Tour Extends Deal With Coca-Cola
On the eve of the Tour Championship, the PGA Tour announced an expanded partnership with The Coca-Cola Company, which will now serve as the Tour’s Official Soft Drink and its Official Sports Drink, Isotonic Drink, and Water.
These new designations mean that Coca-Cola’s well-known brands—Powerade, BODYARMOR, and Smartwater—will become even more integrated into the PGA Tour experience.
Coca-Cola’s connection to the Tour Championship is deeply rooted in history. From 2002 to 2015, Coca-Cola served as the event's presenting sponsor; since 2016, it has been a partner alongside Southern Company, with Accenture joining the partnership in 2022.
Over the years, Coca-Cola has played a pivotal role in the Tour Championship’s charitable contributions, surpassing $54 million.
These funds have made a lasting impact on the Atlanta community, focusing on sustainability and recycling initiatives and supporting organizations like the East Lake Foundation and First Tee—Metro Atlanta.
As part of the expanded partnership, Coca-Cola is also committed to supporting PGA Tour athletes in new and meaningful ways.
One standout program is the BODYARMOR Fuel to the Finish initiative, which will be featured at each PGA Tour Signature Event in 2024. This program awards top-performing players the opportunity to become BODYARMOR brand ambassadors over the weekend, further solidifying Coca-Cola’s role in the athletic achievements of the Tour’s stars.
Coca-Cola has also launched a series of programs focused on hydration and celebration. One initiative is a digital activation showcasing every hole-in-one throughout the calendar year.
“The PGA Tour is thrilled to further strengthen our partnership with The Coca-Cola Company, while adding more ways for our athletes and fans to engage with world-class hydration products.” - Brian Oliver, Executive VP, Corporate Partnerships, PGA Tour.
“We’re proud to expand our partnership with the PGA TOUR and strengthen our association with golf around the world. Our beverages have long been part of the sports experience. Whether it’s hydrating athletes or refreshing fans, our goal is to enhance those moments.” - John Murphy, President and Chief Financial Officer, The Coca-Cola Company.
Bettinardi’s Monopoly Limited Edition Releases
Bettinardi has announced a second collaboration with toy manufacturer Hasbro to create a limited run of Monopoly-themed items.
The release begins Monday, 26th August, and is spread over four days.
Each day will see limited edition releases of putters, headcovers, and other Bettinardi/Monopoly-themed items available through bettinardi.com.
mygolfspy.com speculated that Bettinardi isn’t providing all the details of what they will release.
Bettinardi’s website features an assortment of Monopoly-themed headcovers featuring Monopoly money denominations and a striking Queen Bee 6 putter model with a $500 bill stamped on its sole.
However, could we see wedges or irons featuring Monopoly-themed logos? Could there even be a repeat of the ultra-cool genuine Monopoly board and pieces milled by Bettinardi from 6061 military-grade aluminium, which cost $3000?
Bradley Bags BMW
Keegan Bradley made it to the BMW Championship by a mere 17 points from Tom Kim.
The 2025 Ryder Cup captain booked his place at East Lake for the Tour Championship by completing a one-shot victory on Sunday evening at Castle Pines Golf Club near Denver.
Bradley had begun the final round one shot ahead of Adam Scott. Scott made a fast start out the gates, converting a long eagle putt on the first to briefly draw level with Bradley before Bradley converted his birdie to move one ahead again.
Not much else happened throughout the front nine. Scott offset a bogey on the 6th with a birdie at 8, while Ludvig Aberg also maintained a close-watching brief, joining Scott at one shot shy of Bradley.
While Bradley sailed serenely on carding par after par, Scott lost momentum, recording a run of three straight bogeys from the 10th. Aberg ran out of steam on the 14th when his 3rd shot to the par 5 ended up in the water.
The challenge now came from Sam Burns, who had gone out earlier in the day and recorded the low round of the day with a scintillating 65 to finish at 11 under par.
Bradley did show some signs of nerves, making a crucial up-and-down par on 14 after a wayward tee shot. Bradley’s run of 13 straight pars ended with a bogey on 15, reducing his lead to one shot. But Bradley held his nerve and, on the par 5 17th, produced arguably the shot of the tournament, sending a towering 5-iron from 232 yards out to within 16 feet for an easy two-putt birdie and a two-shot lead going down the last.
A bogey at the last couldn’t dampen Bradley’s celebrations, a winning again on the PGA Tour and a second BMW Championship victory after claiming the title in 2018.
Scott, Aberg, and Burns all tied for 2nd spot. Scott’s T2 also carried the silver lining of getting him into the top 30 and a place in the Tour Championship.
“I’m in a bit of a state of shock because there was a time a week ago about this time that I didn’t think I was going to be coming here.”
“I had to have a lot of magical things happen for me to just play in this tournament, and when I got here, I was so grateful just to be here. I played with a real sense of calm all week, which is not the norm for me.” - Keegan Bradley, 2024 BMW Championship winner.
The Bubble Players
Tension ran throughout the field as players who had not already qualified for East Lake had one final opportunity at the BMW Championship to secure their spots.
As mentioned, Adam Scott secured his place with his T2. Other players who managed to qualify for the Tour Championship with a strong showing at the BMW Championship were:
Keegan Bradley, winner
Tommy Fleetwood, T-5
Chris Kirk, T-9
The players who ultimately lost out and didn’t make it were:
Davis Thompson
Jason Day
Brian Harman
Denny McCarthy
Brian Harman suffered the most. Coming into the week in 29th spot on the FedEx Cup standings, Harman finished in 26th position at the BMW Championship, dropping to 31st place and missing the chance to play at East Lake.
Ko’s Golden Touch Continues
New Zealand’s Lydia Ko came storming through the final round and claimed victory at the AIG Women’s Open held over a blustery rainy Old Course, St Andrews. August has been a memorable month for Ko, who captured the gold medal at the Paris Olympics earlier this month.
In winning the AIG Women’s Open, Ko ended an 8-year drought in major championships, recording her last major victory at the 2016 Chevron Championship.
Ko’s final round got off to a good start with a birdie at the 4th to be one shot behind the leader,
Ko parred her way through the rest of the front nine before recording her next birdie at the 10th hole. Another birdie followed at the par 5 14th, but a bogey at 15 looked to have killed Ko’s chances as she fell two shots behind.
At this point, things were getting very tight. Nelly Korda had a two-shot lead standing on the 14th hole but made a mess of the hole and walked off with a double-bogey, making it a four-way tie at the top with holes running out.
Playing a few groups ahead, Ko set the clubhouse target by birdieing the last hole. Korda couldn’t regain control, and her race was run after failing to make an up-and-down from the road hole bunker on 17.
The other contenders in the back nine battle were Ruoning Yin, Jiyai Shin, and Lilia Vu. Yin ultimately couldn’t make any headway parring in while Shin made bogeys on 15 and 17 to effectively end her race. Vu needed something special at 18 but ultimately walked off the last green after taking a bogey.
Korda had to settle for par at the last, meaning Ko was the champion by a margin of 2 shots.
“It’s pretty surreal. Winning the gold medal in Paris a couple weeks ago, it was almost too good to be true.”
“To be holding this trophy right now, I can’t believe it and obviously very special especially with my family being here this week too.” - Lydia Ko, 2024 AIG Women’s Open champion.
What We Are Reading
Have you ever considered starting a business in the golf industry? Investment specialists Old Tom Capital’s Managing Partners Evan Roosevelt and Matthew Erley sat down for a chat with Golf WRX. They provided some great insights into their business model and the opportunities they see coming up.
With Keegan Bradley winning the BMW Championship and many playing years ahead of him on the PGA Tour, was it the correct decision to make him the Ryder Cup captain? Could Bradley become the first playing captain since Arnold Palmer? James Corrigan of the Telegraph examines the situation and questions the PGA of America’s decision.
