‘Won’t Work Out’: Tiger Woods’ Sports Tech Blank Check Investment Sees a 150 Million Dollar Setback

Published 01/14/2023, 11:29 AM EST
Athletes are often more than just their sport. They see the bigger picture of life after the game. The golf legend, Tiger Woods, is also one of them. He knows he cannot play the game forever, but that doesn’t mean he doesn’t wish to contribute to it. Along with being a skilled athlete, Woods is also a savvy investor. He has a vast portfolio of investments, many of which aim to improve the sports world. One such investment of his recently suffered a $150 million disaster.
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Ever since turning pro, Woods has not only focused on his game but also his professional life off the course. He has also made several savvy investments in various companies over the years.
Woods’ sports tech investment company take a blow
The 15-time major winner made a blank check investment in Sports & Health Tech Acquisition Corp., which last year announced its plans to launch an IPO worth $150 million. This would value the SPAC (special purpose acquisition company) at $600 million to $1 billion.
Recently, as per Bloomberg, the SPAC dropped its big IPO plans. Andrew White, the chairman of LeAD Sports Ltd., led the company. The Woods-backed venture also boasted of having many other star athletes on board. Tennis legend Caroline Wozniacki and former NBA star David Lee were among them.
May 18, 2022; Tulsa, Oklahoma, USA; Tiger Woods looks on during a practice round for the PGA Championship golf tournament at Southern Hills Country Club. Mandatory Credit: Orlando Ramirez-USA TODAY Sports
Fortunately, Wood’s has a vast portfolio of investments. His design and management company, TGR Designs, has been flourishing in the market. TGR has designed and developed over 20 golf courses around the world. And Woods recently even lent a hand in designing the first public-access golf course, Payne’s Valley.
What other companies does Tiger Woods have investments in?
Additionally, Woods also has his ever-popular restaurant, The Woods Jupiter. His diverse portfolio now also includes a company he started with world No. 1 golfer Rory McIlroy, TMRW Sports. Last year in August, Woods tweeted, “I’m excited to be a part of this exciting new venture.” The golf pro added, “Which will harness technology to bring new approaches to the sport we love.”
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The two golf pros, along with sports executive Mike McCarley, founded the company. Their aim was to build “pioneering ventures that feature progressive approaches to sports, media, and technology.” Woods undoubtedly hopes to bring advancement to the sports world through his investments.
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Do you think any of Wood’s other companies will suffer the same fate as the SPAC? Let us know in the comments below.