Tiger Woods’ 2nd career as a golf entrepreneur got a strengthen on Tuesday from a single of his most important tools sponsors when TaylorMade Golfing produced a “material investment” in PopStroke, Woods’ golf-enjoyment organization.
PopStroke venues blend upscale placing classes with restaurant, bar and other gaming experiences. At this time, there are 6 destinations (five in Florida and a single in Texas) with two far more under construction in Arizona. Conditions of TaylorMade’s investment decision ended up not revealed in the announcement, but the news release characterized the partnership as “a partnership” in between the enterprise, PopStroke Entertainment Team and Woods.
PopStroke was established in 2018 by Woods and Greg Bartoli, a previous Wall Avenue govt who was handling director of the Interest Amount Investing Team at JPMorgan. Bartoli is also the founder and CEO of J.E.M. Partners, a Florida-dependent authentic-estate investment business specializing in outside family members amusement and amusement parks.
TaylorMade Golf CEO David Abeles will join PopStroke’s board of directors.
“We had been really influenced by the loved ones orientation of the PopStroke model,” Abeles mentioned in a assertion. “After going through it individually, observing golfers from just about every technology and skill stage interacting in a way that demonstrates the joy of golfing, we knew this was something we experienced to be a component of. With Greg Bartoli’s eyesight, TaylorMade’s background with Tiger Woods and the alignment of our values, we imagine this is an investment decision that will not only profit our firm, but also the long run of golf for generations to occur.”
The standard PopStroke location involves a 36-hole outside, artificial-turf putting courses, made by Woods, as nicely as both of those loved ones activities (foosball, corn hole and an ice-cream counter) and an upstairs bar spot reserved for the 21-and-more mature crowd.
According to the announcement, TaylorMade’s expense in PopStroke values the golf entertainment enterprise at $650 million.
“I am very psyched to spouse with TaylorMade as we continue on PopStroke’s speedy growth,” said Woods, who signed to endorse TaylorMade clubs in 2017. “TaylorMade has been a terrific and dependable lover of mine for many several years, and I could not be happier to grow my partnership with David and his staff. I have expended my total occupation developing the recreation of golf, and I know that TaylorMade will boost the visitor working experience at PopStroke as we proceed to introduce thousands and thousands of friends to the match that I adore.”
TaylorMade’s financial commitment in the golfing-amusement venue space is not special for a golfing equipment firm. Callaway was a considerable trader in Topgolf before obtaining the organization in 2021 for $2.6 billion in stock. The acquisition at some point led to the firm getting renamed Topgolf Callaway Manufacturers last 12 months. There are 70 Topgolf places in the North The united states, the U.K., Australia, Germany and the UAE. PopStroke has a identical vision for enlargement.
“We are fired up to partner with TaylorMade as we keep on to introduce our one of a kind placing and dining experience to golfers of all ages and talents,” Bartoli stated in a assertion. “The mix of PopStroke, Tiger and TaylorMade not only brings special worldwide visibility but accelerates our trajectory as we drive to turn into the premier brand in golf amusement.”