Latest news with #TaylorMadeGolf
USA Today
13-05-2025
- Business
- USA Today
Sale of TaylorMade Golf by its private equity owner may begin soon according to reports
Sale of TaylorMade Golf by its private equity owner may begin soon according to reports Reports from South Korea state that TaylorMade's parent company may ask for $3.5 billion for the brand, but one investor wants to wait. Is TaylorMade Golf about to hit the block? Talk that the Carlsbad, Calif.-based equipment maker could be sold has accelerated, according to a report on May 9 in the Chosun Daily, a Korean publication. Earlier this year, Centroid Investment Partners, a South Korean private equity firm that purchased TaylorMade Golf in 2021, was reported to be considering selling the equipment maker. The latest report claims that TaylorMade may begin the sale of its management rights, 'as early as next month, with the company aiming for a valuation of around $3.5 billion.' The $3.5 billion targeted sales price is believed to be based on a valuation benchmarked against Acushnet Holdings, the parent of Titleist. According to investment banking sources, sale advisors JP Morgan and Jefferies plan to send teaser letters to potential buyers in June or July. Strategic investors from China and the Middle East are expected to be key targets. There's one potential holdup: F&F, the South Korean fashion group that joined as a strategic investor at the time of Centroid's 2021 acquisition of TaylorMade, reportedly opposes the sale. 'Through legal counsel Yulchon LLC, F&F has submitted formal notices stating it will exercise its right to approve major corporate decisions should the deal proceed,' the Chosun Daily reported. F&F also argues that the scope of its right of first refusal remains ambiguous. The company holds both the right to approve key decisions and the right of first refusal on TaylorMade, and has consistently opposed a sale—pushing instead for continued growth and a future IPO. Centroid maintains that the planned sale does not fall under F&F's approval rights and charges that the terms of the right of first refusal are clearly defined. If a third-party buyer presents an offer, F&F would have 14 days to match or exceed that price to take control. F&F invested $392 million into the fund when TaylorMade was valued at just $1.5 billion. In January, Jeong Jin-hyeok, the CEO of Centroid Investment, told Nikkei Asia that he is, 'satisfied with TaylorMade's golf ball business as it has grown more than 20 percent on average per year since Centroid's acquisition in 2021, while noting that he will be monitoring how its clothing operations perform through 2025.' That would be a reference to the apparel business, which the company backed last year, with Tiger Woods and known as Sun Day Red.
Newsweek
30-04-2025
- Business
- Newsweek
PGA Tour CEO Search Linked to Longtime Friend of Tiger Woods
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The hunt for candidates to fill top positions at institutions in the world of golf has become a trend in the past year, and PGA Tour Enterprises is no exception. Jay Monahan's team is still searching for a CEO, and it seems they are not sitting on their hands about it. According to a report from the Sports Business Journal, the tour has shown interest in two names in particular. One of them would have the unofficial but not insignificant advantage of being closely associated with one of the organization's heavyweights, Tiger Woods. That name is David Abeles, the current president and CEO of TaylorMade. Tiger Woods has had TaylorMade as one of his major sponsors since 2017. The renowned golf equipment and apparel brand is also working with him on his latest project, Sun Day Red. Abeles has other attributes beyond his close relationship with Woods. His time at TaylorMade and other companies such as Titleist and Acushnet gives him a global vision of a sport as unique as golf. It has also allowed him to connect with numerous players through his sponsorship deals. Erin Andrews, Tiger Woods and CEO and President at TaylorMade, David Abeles attend the launch of Tiger Woods and TaylorMade Golf's new apparel and footwear brand "Sun Day Red" at Palisades Village on February 12,... Erin Andrews, Tiger Woods and CEO and President at TaylorMade, David Abeles attend the launch of Tiger Woods and TaylorMade Golf's new apparel and footwear brand "Sun Day Red" at Palisades Village on February 12, 2024 in Pacific Palisades, California. MoreAccording to the report, Abeles' main competitor would be Steve Phelps, the current NASCAR commissioner. The information suggests that Phelps is an attractive candidate for the tour, as he has been instrumental in the successful relaunch of NASCAR from 2018 to the present. The report cites numerous sources to support its information, although it does not identify them. There is also no official confirmation of the Tour's interest at this time. The PGA Tour commissioner acknowledged the organization's interest in naming a CEO last December. Since then, the tour has been searching for the right person, but the position has yet to be filled. The appointment of a CEO is part of a restructuring of the PGA Tour that included the creation of PGA Tour Enterprises as the business arm of the organization. All of this comes on the heels of a $1.5 billion investment in the tour from Strategic Sports Group. Since 2024, several top positions in the world of golf have changed hands for one reason or another. DP World Tour Commissioner Keith Pelley accepted a new position in his native Canada and was replaced by his former No. 2, Guy Kinnings. Meanwhile, the heads of the R&A and the LPGA Tour resigned their positions, with no permanent replacements yet named. The most talked-about case was that of LIV Golf founder Greg Norman, who was replaced as the leagues CEO by Scott O'Neal, whose business experience includes the NBA, NHL, NFL and other ventures. More Golf: CJ Cup Byron Nelson Field Takes a Hit as PGA Tour Star Withdraws
USA Today
19-03-2025
- Business
- USA Today
TaylorMade signs top-ranked junior Asterisk Talley to endorsement deal
TaylorMade signs top-ranked junior Asterisk Talley to endorsement deal Asterisk Talley is the top female golfer on the Rolex AJGA rankings, and now she joins Nelly Korda, Brooke Henderson, Tiger Woods and Rory McIlroy on TaylorMade's staff. Show Caption Hide Caption TaylorMade P·790 irons for 2025 offer better feel, more distance TaylorMade's updated P·790 irons have a new face material to go along with tungsten weights and updated internal structures enhance feel and distance TaylorMade Golf has signed 16-year-old amateur golfer Asterisk Talley to a sponsorship deal. Talley is the top-ranked junior girl's golfer in the Rolex AJGA Rankings and recently competed in the U.S. Women's Open. TaylorMade has a stable of staff players that includes Tiger Woods, Rory McIlroy, Scottie Scheffler, Nelly Korda and Brooke Henderson, and on Wednesday, the Carlsbad, California-based company added 16-year-old Asterisk Talley to that group. While the rules governing amateur athletics have changed in recent years, allowing many athletes to be paid for the use of their name, image and likeness (NIL), financial details regarding the partnership between Talley and TaylorMade were not disclosed. Talley, a native of Chowchilla, California, is currently the top-ranked player in the Girls division of the Rolex AJGA Rankings, having won the 2025 AJGA Fortinet Stanford Invitational and ANNIKA Junior Invitational titles. Last season, she competed in the U.S. Women's Open (where she finished 44th) and was on the United States team that narrowly lost the Curtis Cup, a competition between the best female amateur golfers from America against the best players from Great Britain and Ireland. However, in that event, Talley shined, going 2-1-1 in match play, including a singles win over Lottie Woad, who is the top-ranked female amateur golfer in the world. 'As a company that's always looking to the future, we prioritize cultivating relationships with top-tier youth talent, and Asterisk certainly fits that mold. Her accomplishments at such a young age are remarkable. But just as importantly, she's a phenomenal young woman of standup character. We couldn't be more excited about our partnership with Asterisk; she has a tremendously bright future ahead both on and off the course.' - Eddie Erkmanis, TaylorMade Vice President of Sports Marketing According to TaylorMade, it is anticipated that Talley will be using the following clubs this season: DRIVER: TaylorMade Qi35 (9 degrees) FAIRWAY WOOD: TaylorMade Qi35 (16.5 degrees) HYBRID: TaylorMade Qi (19 degrees) IRONS: TaylorMade P·790 (4-5), P·7MC (6-PW) WEDGES: TaylorMade Milled Grind 4 (50, 54, 60 degrees) PUTTER: TaylorMade Spider Tour X BALL: TaylorMade TP5x
