GBR Friday | 75 Years of Pioneers: How Female Club Golfers and Rising Participation Are Fueling the Industry’s Future
Every Tuesday and Friday Morning, We Bring You the Ten-Minute Summary of What Happened Last Week in the Golf Industry While you Were Golfing.
Hello, GBR community!
As Women’s History Month continues, the LPGA celebrates its 75th anniversary — a milestone that highlights both the legacy and future of women’s golf. At Golf Bizz Review, supporting women in golf has always been a priority — not just as a moral goal, but as an economic imperative. Today, we reflect on the pioneers who built the sport, examine the current state of the women’s golf industry, and explore the changes still needed to ensure lasting growth and inclusion.
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Industry
Circuits
Equipment
People to Watch
Just for Paid Subscribers
1. INDUSTRY
INVESTORS WEIGH GOLF STOCKS AS MODG FALTERS AND ACUSHNET HOLDS STEADY
Topgolf Callaway Brands (NYSE:MODG) has seen its stock drop nearly 39% since September 2024, with analyst Max Juang from Stock Story flagging several concerns in a piece published on Tuesday, March 18 titled "Three Reasons MODG is Risky and 1 Stock to Buy Instead". Meanwhile, Acushnet Holdings Corp. (NYSE:GOLF) is viewed as a relatively stable investment, as explored by Simply Wall St in the article "Should You Investigate Acushnet Holdings Corp. (NYSE:GOLF) At US$67.06?", published the same day.
At the close of this edition, 11 a.m. Mountain Time, MODG stock was performing at $6.86 USD, slightly above the $6.48 referenced by Juang but still far from recovery. The bearish sentiment centers on three key issues: declining constant currency revenue, break-even free cash flow, and weakening returns on invested capital (ROIC). Juang argues that these indicators point to increasing competition and limited profitability, highlighting challenges in Topgolf Callaway’s ability to deliver meaningful shareholder returns in the foreseeable future. Despite its low share price, MODG’s forward P/E ratio of 371.7x indicates that much optimism may already be priced in, further limiting upside potential.
In contrast, Acushnet, trading at $66.06 USD, is seen as more stable. Its current price-to-earnings ratio of 18.75x is slightly above the industry average of 17.63x, which suggests the stock is fairly valued, according to Simply Wall St. While growth prospects are modest—with expected profit growth of 3.9% over the next few years—the stock’s low beta indicates less price volatility, making it appealing to risk-averse investors.
GOOD GOOD GOLF SECURES $45 MILLION TO FUEL GLOBAL EXPANSION
Good Good Golf, a next-generation golf media and lifestyle brand, has raised $45 million in funding to accelerate its global expansion across content, retail, and live experiences. The round was led by Creator Sports Capital, founded by Benjamin Grubbs and Brian Kabot, with additional backing from Manhattan West Private Equity, Sunflower Bank, and Peyton Manning’s Omaha Productions. More than 50 global investors participated, drawn by Good Good’s rapid growth and unique positioning at the intersection of sports, entertainment, and commerce. Founded in 2020, the company has built a worldwide digital following with over 1.75 million YouTube subscribers, leveraging storytelling and competitive content to reshape how fans engage with golf. The new capital will support Good Good Golf’s continued evolution into a fully integrated brand spanning premium golf products, marquee events, and retail partnerships. Notable initiatives include collaborations with Dick’s Sporting Goods and Callaway Golf on high-performance gear alongside a growing direct-to-consumer business. Full press release here.
STEPH CURRY’S UNDERRATED GOLF TOUR RETURNS TO EUROPE IN 2025
NBA star Steph Curry’s UNDERRATED Golf Tour will return to Europe in 2025, offering junior golfers from across the continent a platform to compete at top venues. Backed by United Airlines as the presenting sponsor, the tour aims to improve access and representation in golf, giving 48 boys and 48 girls the chance to compete at Foxhills in Surrey and Fairmont St Andrews in Scotland. Winners will advance to the Curry Cup in the United States, now entering its fourth year. The tour is designed as a pathway for emerging talent, aligning with Curry’s broader goal of making golf more inclusive and accessible. Now in its second year in Europe, the UNDERRATED Golf Tour has established itself as a significant addition to the junior golf calendar. Curry, alongside ambassadors Henni Zuel and Gareth Bale, has positioned the series as a gateway for young players to perform on a global stage. With events held at prestigious courses, the tour offers participants exposure to elite competition and the chance to further their careers in the sport. More information at Underated Golf.
FIVE IRON GOLF LAUNCHES INAUGURAL COACH SUMMIT TO ADVANCE GOLF INSTRUCTION
Five Iron Golf will host its first Coach Summit on March 24 at its Grand Central location in New York. Designed for golf professionals seeking to refine their instruction techniques, the event will feature expert-led sessions covering swing mechanics, fitness, player movement, and mental game strategies. Attendees can participate in person or via live stream. The summit will include presentations from top instructors such as Tony Ruggiero and Brian Manzella, PGA Tour performance coach Kolby Tullier, and sports psychologist Dr. Michael Klein. Networking opportunities, a Q&A panel, lunch, and a cocktail reception are also included. Registration information can be found here.
SKIDATTL LAUNCHES AR PLATFORM TO TRANSFORM REAL-WORLD ENGAGEMENT
Skidattl has launched its augmented reality engagement platform, combining geospatial intelligence with AR to connect businesses and consumers in physical spaces. The platform enables companies to create virtual information overlays, or “beacons,” viewable via smartphones without app downloads. Features include virtual signage, no-code content creation tools, and privacy-centric engagement, compatible with smartphones and future AR wearables. Skidattl offers a scalable solution for immersive real-world interaction, with enterprise subscriptions starting at $5,000 annually. In golf, Turtle Bay Golf Course in Hawaii piloted the platform, enhancing the player experience with real-time data and digital caddie insights. Developed by Randy Marsden, Skidattl aims to revolutionize location-based experiences across industries. More information can be found at Skidattl.
PACESETTER AND 59CLUB PARTNER TO DELIVER DATA-DRIVEN SERVICE ENHANCEMENTS FOR CLUBS
Pacesetter Technology has announced a strategic partnership with 59club to integrate advanced mobile solutions with performance analytics and training resources to transform service delivery in private clubs. The collaboration combines Pacesetter’s mobile technology—designed to enhance personalization and streamline club operations—with 59club’s industry-leading customer service management tools. Club leaders will gain real-time access to performance data, training programs, and industry events, enabling more informed decision-making and measurable improvements in member experience. The partnership positions both firms to set a new benchmark in club operations by aligning mobile innovation with data-driven service enhancements. More information at 59club.
GOLF FIT APP LAUNCHES TO COMBINE FITNESS, MOBILITY, AND GAME IMPROVEMENT
Golf Fit, a new fitness platform designed to enhance golf performance and overall health, has officially launched, focusing on mobility, strength, and injury prevention. Created by entrepreneur Richard Berle, the app offers 70+ workouts led by expert trainers, including Sheldon Roberts, named one of Golf Digest’s Best Fitness Trainers for 2025-26. Using adaptive AI technology, Golf Fit personalizes training plans based on user progress, adjusting workouts to target pain-free movement, pre-round warm-ups, and strength building. Designed for golfers and non-golfers alike, the app reflects the game’s expanding appeal beyond traditional players. Priced at $24.99 per month or $199.99 annually, Golf Fit releases new content monthly, aiming to foster healthier habits and long-term enjoyment of the sport as golf participation rises across on- and off-course experiences. More information is available at Golf Fit.
SCOTTISH GOLF CLUB MANAGERS ASSOCIATION REBRANDS AS CMAE SCOTLAND
Golf club managers in Scotland will now operate under CMAE Scotland following the rebranding of the Scottish Golf & Club Managers Association (SGCMA). Approved at the group’s recent AGM, the change aligns the organization more closely with the Club Management Association of Europe (CMAE) while preserving its regional focus. As the official Scottish arm of CMAE, the body will continue providing professional development, education, and networking for over 200 members nationwide. CMAE, established in 2001, now supports 4,000 members in 40 countries, reinforcing the rebrand as part of an effort to strengthen global ties and advance management standards within Scotland’s club industry. You can read Martin Dempster’s full article in The Scotsman.
CENTRAL VIETNAM TO SHINE AT AGTC 2025. The 12th Asia Golf Tourism Convention (AGTC), held from April 2–4 in Danang, will spotlight Central Vietnam as a top-tier golf destination, showcasing courses like Ba Na Hills, Montgomerie Links, and Laguna Golf Lang Co. Organised by IAGTO, the event is expected to boost international exposure, tourism, and business growth, while clubs prepare with strategic initiatives to attract global golfers and tour operators. More info in Travel Weekly Australia.
FOREMOST GOLF CELEBRATES 250 USERS OF ITS POS SYSTEM AFTER SUCCESSFUL LAUNCH. Foremost Golf’s innovative POS software, launched last year, has reached 250 users, delivering seamless integration, accurate data, and time-saving benefits for golf retailers at just £40 per month. The system, praised for its swift setup and reliability, enhances business processes and integrates with Foremost’s EMP marketing and Central Payment systems, with growth expected to hit 300 users by end-2025. More in Golf Retailing.
USGA RELEASES WATER CONSERVATION PLAYBOOK TO SUPPORT SUSTAINABLE GOLF COURSE MANAGEMENT. The free digital guide offers golf courses practical tools to manage water usage more efficiently, drawing from expert contributions and over a century of USGA agronomic experience. As part of a $30 million, 15-year initiative, the playbook outlines irrigation best practices, advanced conservation strategies, and sourcing options, aiming to promote sustainability amid rising water costs and changing climate conditions. Full press release available here.
2. CIRCUITS
MCILROY’S PLAYERS CHAMPIONSHIP WIN BOOSTS TV RATINGS AMID GOLF VIEWERSHIP SLUMP
Rory McIlroy’s dramatic victory at the Players Championship delivered a ratings boost for NBC, with Sunday’s final round averaging 3.6 million viewers, up slightly from 3.5 million during last year’s event. The broadcast peaked at 6.2 million viewers at 7 p.m. ET, surpassing last season’s 6 million peak as McIlroy forced a Monday playoff and secured the win. The strong finish came despite a largely unrecognizable leaderboard featuring players like J.J. Spaun, Bud Cauley, and Danny Walker. While the 2024 viewership did not reach the 4.1 million average posted in 2023 during Scottie Scheffler’s victory, McIlroy’s presence proved once again that few golfers outside of Tiger Woods can drive audience engagement at this level. The improved ratings offer a positive sign amid a broader season-long decline in PGA Tour viewership. McIlroy’s win highlights the continued importance of star power in sustaining golf’s broadcast appeal. You can read Matt Vincenzi’s article in Sports Illustrated.
PGA TOUR’S NEW VIDEO REVIEW CENTER PROMISES FASTER, MORE ACCURATE RULINGS
The PGA Tour’s newly launched Video Review Center is already improving decision-making and pace of play, aiming to prevent lengthy disputes like the seven-minute ruling involving Rory McIlroy at the 2024 Players Championship. Located inside the 165,000-square-foot PGA Tour Studios, the 340-square-foot center uses ShotLink 2.0 and Hawk-Eye technology to deliver real-time rulings on complex scenarios. Overseen by Mark Dusbabeck, the system mirrors those used in professional sports leagues like the NHL and NFL and can provide rulings within 30 seconds in most cases.
The center debuted earlier this year and has already proven its value, assisting officials in a high-profile call involving Wyndham Clark at the Arnold Palmer Invitational. Staffed by up to four officials during major events, the facility is expected to expand operations by 2026. Dusbabeck emphasized the dual goals of protecting players and ensuring accurate rulings, helping the Tour address persistent concerns over slow play while adding a new layer of transparency and precision to on-course officiating. Josh Carpenter’s full article is available at Sports Business Journal.
LPGA STRENGTHENS PACE OF PLAY POLICY WITH SEASON-LONG TIMING PENALTIES
The LPGA Tour will enforce stricter pace-of-play measures for the 2025 season, adding a season-long tracking system for timed holes starting next week at the Ford Championship. Players accumulating 40 or more timed holes—excluding specific events like the U.S. Women’s Open and AIG Women’s Open—will face fines. The Epson Tour will implement the same system from April 25 at the IOA Championship, fining players with 20 or more timed holes. LPGA Player President Vicki Goetze-Ackerman said the change aims to reduce slow play by increasing accountability for those consistently out of position.
This update follows February’s rollout of a new pace policy introducing a one-shot penalty for excessive timing. Under the revised rules, players face fines if they exceed time limits by 1-5 seconds, a one-stroke penalty for 6-15 seconds over, and a two-stroke penalty if 16 seconds or more over. Additional allowances of 10 extra seconds now apply only to the first player on par 3s and reachable par 4s, with prior time extensions on other holes eliminated. The LPGA expects the changes to curb delays and improve tournament flow across both tours. Beth Ann Nicol’s article in Golfweek.
ANGELA STANFORD NAMED U.S. CAPTAIN FOR 2026 SOLHEIM CUP IN THE NETHERLANDS
Seven-time LPGA Tour winner Angela Stanford has been appointed U.S. captain for the 2026 Solheim Cup, set for September 11-13 at Bernardus Golf in the Netherlands. A six-time Solheim Cup player and three-time assistant captain, Stanford brings extensive experience to the role, having secured the winning point in the U.S. team’s last overseas victory in 2015. Stanford, who retired from the LPGA Tour in 2024 after a 23-year career, called the appointment the pinnacle of her career, expressing excitement about leading the squad back to Europe.
Stanford’s selection follows the U.S. team’s 2024 Solheim Cup victory in Virginia, their first win since 2017. Interim LPGA Commissioner Liz Moore praised Stanford’s leadership and team spirit, calling her the ideal choice to guide the squad. Stanford will face European captain Anna Nordqvist, a three-time major winner, in the biennial competition. Stanford’s decorated career includes a major title at the 2018 Amundi Evian Championship, underscoring her credentials as she prepares to lead the U.S. team in pursuit of consecutive Solheim Cup triumphs. Reuters news agency.
GARCIA AND REED TARGET OPEN CHAMPIONSHIP SPOTS AT INTERNATIONAL SERIES MACAU
The International Series Macau, presented by Wynn, has added significance this week with three qualification spots for The Open Championship available to the top eligible finishers. Major champions Sergio Garcia and Patrick Reed headline a 156-player field at Macau Golf and Country Club, both eager to secure their place at golf’s oldest major. Fresh off an individual and team victory at LIV Golf Hong Kong, Garcia called it his “favorite major” and emphasized the importance of the opportunity after missing recent Opens. Garcia praised the strength of the field and the growing stature of the Asian Tour, which now offers clear pathways into golf’s most prestigious events.
Reed, a 2018 Masters champion and winner of the 2024 LINK Hong Kong Open, echoed Garcia’s sentiments, viewing the Open spots as added motivation in a season where major starts are no longer guaranteed. Reed, who missed two majors last year after a streak of 42 consecutive appearances, finished fourth in Macau last season and is determined to capitalize this week. After the second round, Reed is leading after shooting a 64, with Garcia four shots back after a 66. After round two of the International Series Macau, the current state of play is available at LIV Golf.
DR. BOB ROTELLA WORKS WITH MCILROY TO MANAGE MASTERS PRESSURE AFTER PLAYERS WIN
Veteran mental coach Dr Bob Rotella is focused on helping Rory McIlroy handle soaring expectations as the Masters approaches following McIlroy’s victory at The Players Championship. With two PGA Tour wins already this season—his first time achieving that milestone before Augusta—McIlroy has committed to deepening his work with Rotella to maintain composure under mounting pressure. Rotella, renowned for guiding players like Pádraig Harrington and Darren Clarke to Major victories, emphasized the importance of helping McIlroy approach the Masters with freedom, focusing less on results and more on enjoying the challenge.
Rotella praised McIlroy’s mindset at Sawgrass, particularly his clutch putting, including a critical par save on the 72nd hole that secured his playoff spot. Noting that McIlroy is learning to embrace putting as a strength, Rotella said the key at Augusta will be avoiding the trap of chasing results. “He’s doing everything humanly possible to give himself a chance,” Rotella said, adding that their work will center on reducing pressure and reminding McIlroy of his already extraordinary career. Brian Keogh’s full article in the Irish Independent is available here.
3. EQUIPMENT
SUN DAY RED LAUNCHES PIONEER MAGNOLIA GOLF SHOE WITH PERFORMANCE-DRIVEN DESIGN
Tiger Woods’ Sun Day Red and TaylorMade Golf have released their latest golf shoe, the Pioneer Magnolia, combining classic wingtip styling with advanced performance features. Priced at $275 (£210, €250) and available now, the shoe is constructed with premium full-grain waterproof leather, brogue detailing, and a double-stitched storm welt for enhanced durability. Woods prioritized a low-profile sole architecture to improve stability and ground connection, while an EVA foam midsole with a 6 mm drop supports balance throughout the swing. The shoe includes a 9-cleat TPU outsole for maximum traction and two removable insoles—Custom Massage and Smooth—for adjustable comfort. Available in White Silver, Black/Silver, and Off-White/Black, the Pioneer Magnolia debuts this week as Karl Vilips, Sun Day Red’s first brand ambassador, wears the model at the 2025 Valspar Championship. More information on the Pioneer Magnolia is available at Sun Day Red.
4. PEOPLE TO WATCH
Two-time Wimbledon champion Andy Murray has signed on as a brand ambassador for Callaway Golf, marking his shift from professional tennis to focusing on golf. Since stepping away from tennis in August 2023, the 37-year-old double Olympic gold medallist has dedicated himself to improving his seven handicap. Golf Business News.
Sean Foley, known for coaching stars such as Tiger Woods, Lydia Ko, and Justin Rose, has announced he will exclusively play the Maxfli Tour X golf ball. Foley praised the ball’s performance and value, emphasizing its appeal amid growing economic inequality in the sport. Forbes Online.
Newly launched PR and marketing agency The Loop has secured prominent PGA professional James Robinson as part of its growing roster of golf influencers. The agency, which has signed 18 creators across the golf content spectrum, will work to expand Robinson’s profile and develop commercial partnerships spanning equipment, apparel, travel, and consumer brands. Golf Retailing.
Choi Dong-ho, chairman of All Day Golf Group, has been elected to lead the Korea Golf Club Management Association (KGCMA) for a three-year term. Choi brings over 30 years of industry experience, having previously served as CEO of Imperial Lake and chairman of the Chungcheong Regional Council. The KGCMA cited his energy and leadership as key to driving sustainable growth and improving youth accessibility to golf in Korea. Golf Industry Asia
5. JUST FOR PAID SUBSCRIBERS
PIONEERS, PLAYERS, AND PROGRESS: 75 YEARS OF WOMEN DRIVING THE GOLF INDUSTRY FORWARD
As Women’s History Month unfolds this March, 2025 marks a major milestone for women’s golf. The LPGA — the oldest professional women’s sports league in the world — is celebrating its 75th anniversary, a powerful reminder of how far the game has come and the opportunities still ahead. Women in golf have always been a priority for Golf Bizz Review, reflecting our commitment to diversity, inclusion, and the economic growth of the global golf industry. This anniversary is more than ceremonial: it’s a chance to reflect on the game’s pioneers, analyze the current business of women’s golf, and examine what still needs to change — from boardrooms and clubhouses to media coverage and the industry itself.
A Legacy Born in 1950: The Pioneers Who Started It All
The LPGA was founded in 1950 by 13 pioneering women golfers who turned passion into action, at a time when women’s professional sports barely existed. The first official LPGA event — the Tampa Open — was won by Polly Riley, and the season offered just 15 events with a total prize pool of $40,250. Fast-forward 75 years, and the LPGA now hosts 32 events with a record $131 million prize fund in 2025 — up 90% since 2021. The tour spans 12 countries and 14 U.S. states, with members representing 33 nationalities.
The LPGA Founders Cup — one of the tour’s signature events — pays tribute to those original 13. Although the last surviving founder, Marlene Hagge-Vossler, passed in 2023, their legacy lives on.
As Nelly Korda, Rolex Women’s World No. 1, noted:
“They took our Tour this far, and hopefully we can continue doing that for them, taking it further and further.”
Fifteen-time tour winner, Korda added:
“My favorite thing about playing out here and getting to do what I do for a living is growing the game and inspiring the next generation.”
Semi-retired LPGA player Brittany Lincicome echoed those sentiments, expressing deep gratitude for the Founders’ vision.
“I obviously can’t thank them enough for having the vision to want to create a women’s tour,” said the two-time Major winner. “I’m praying they’re watching down on us and that we’re representing them the way they’d want to be represented, just wanting to grow the game and make it better.”
To honor that legacy, the LPGA’s 75th anniversary is framed as more than a celebration — it’s “a tribute to the determination, resilience, and vision of the women who paved the way for the sport's growth and success,” according to the Tour. The season-long campaign includes several new initiatives. A dedicated website, LPGA 75, highlights the organization’s history decade by decade, featuring founder bios, key milestones, the work of the LPGA Foundation, and the global impact of LPGA-USGA Girls Golf, which serves 100,000 girls annually across 550 sites.
Numbers Don’t Lie: Women Are Fueling Golf’s Growth
Golf’s demographics are evolving, and women are leading the charge. According to the National Golf Foundation (NGF), female on-course golfers in the U.S. reached 7.9 million in 2024 — 28% of all golfers. This marks a 25% increase in the last five years.
NGF editorial director Erik Matuszewski highlighted that women under 35 represent 45% of all female golfers — a significant shift from the outdated notion that golf skews older and male.
“The pace of change is generally very slow, almost glacial,” Matuszewski said. “But this lowered average age is bucking the trend. These younger players are setting the base for the future.”