All articles tagged with #golf industry
New PGA Tour CEO Brian Rolapp discusses the complex situation involving ongoing talks with LIV Golf and the PIF, emphasizing the Tour's strength and focus on growth, while highlighting Tiger Woods' significant influence and dedication to the sport's future.
Topgolf Callaway Brands Corp. denied reports of exploring a sale of its golf-equipment arm, leading to a 8.8% gain in shares, down from an earlier 15% surge. The company refuted claims of talks to sell the business and responded to the report due to "unusual market activity." The golf industry has struggled to maintain its pandemic boom, and Callaway Golf Co. closed on its acquisition of Topgolf Entertainment Group three years ago. Despite uncertainty, some investors remain interested, with Seoul-based Centroid Investment Partners raising a $500 million fund for a new US acquisition.
Despite recent poor performance, fans of Topgolf Callaway Brands believe the pure-play golf stock can deliver a strong investment opportunity. Topgolf operates around 80 high-tech driving venues across the US.
The Masters golf tournament is feeling the impact of LIV Golf, a new technology-driven golf league that is attracting top players and sponsors. LIV Golf's innovative format and use of technology is seen as a threat to the traditional golf industry, including The Masters. The competition between the two leagues is expected to intensify in the coming years.