GBR Friday | Boardroom Squid Game: Korean Rivals Clash Over TaylorMade Sale Prospects
Every Tuesday and Friday, we connect the dots across golf’s business, media, and professional landscape.
Good morning, GBR community!
First off, we’d like to extend a happy Fourth of July to all our American readers. If you are having the day off to celebrate, we hope you enjoy it!
Secondly, apologies for the radio silence this week with the newsletter; this is down to travelling, returning home to a heavily pregnant wife, who is struggling with third-trimester sleeping issues, and a nearly-completed house extension, which still has a huge “to-do” list before hopefully moving in next month.
Now that I’m back in situ, normal service will resume next week, so that we will be sticking true to our “Every Tuesday and Friday..” sub-heading.
Thank you for bearing with us this week.
Okay, on to today’s newsletter. We’ll keep this version short while bringing you up to speed on the major industry stories in golf this week.
We’ll explore the projected growth in the golf glove industry. That might not sound the most exciting thing to say, however, the latest projections indicate it will be a $330 million market by 2035.
There also appears to be a growing battle in Korea as to who owns and has the right to sell TaylorMade Golf.
In circuits, we report on new sponsors on the PGA Tour and DP World Tour. We’ll also take a look at the preliminary 2026 schedule for LIV Golf.
Thinking of the weekend, we’ve provided some reading and viewing options for you, including LIV Golf’s CEO, Scott O’Neil’s interview with Rick Shiels, and everything you need to know about zero torque putters.
Enjoy your celebrations today if you are lucky enough to be on holiday, and enjoy your weekend when it comes.
I’ll be back with more on Tuesday.
INDUSTRY
Golf Giant TaylorMade at Center of Power Struggle Between Korean Investors
South Korean fashion group F&F Co. has ignited a high-stakes corporate clash by launching a formal bid to acquire TaylorMade Golf, while simultaneously threatening legal action against Centroid Investment Partners for initiating a sale without its consent. F&F, which backed Centroid’s 2021 acquisition with a South Korean Won ₩550 billion ($420 million) investment and holds what it claims is the largest stake in TaylorMade, insists it secured key contractual rights, including a right of first refusal and consent authority over any sale. The company denounced Centroid’s recent move to appoint JPMorgan and Jefferies as sales managers and market the brand—valued at South Korean ₩5 trillion ($3.7 billion)—as a unilateral breach of agreement. “There has been no change in our intent to acquire TaylorMade,” F&F stated, pledging to deploy “all available legal and contractual measures” to block the sale and enforce its rights.
F&F views TaylorMade as a strategic cornerstone in its global fashion ambitions and points to its past success transforming Discovery Expedition and MLB into profitable apparel brands in Asia. The fashion firm has made clear that it will not relinquish TaylorMade lightly, especially given the golf company’s strong commercial trajectory, including 2023 revenue of $1.44 billion—up from $943 million in 2020—driven by its expansion in golf ball sales. Despite Centroid’s original intention to take TaylorMade public via the NYSE, the pivot to a direct sale has exposed deep fractures between the partners. Key points from the unfolding dispute include:
Valuation conflict: Centroid seeks South Korean Won ₩5 trillion, more than double its acquisition price.
Legal challenge: F&F alleges its consent is legally required and has pledged full-scale legal action.
Historical ownership: TaylorMade has changed hands multiple times—from Adidas to KPS Capital Partners, and then to Centroid—with each owner reshaping its path.
Current status: TaylorMade remains one of the top three global golf brands, sponsoring major athletes and performing strongly in both domestic and international markets.
With neither Centroid nor TaylorMade issuing official comments, the standoff threatens to delay or derail a blockbuster deal in the golf equipment sector. Additional background from South Korea can be found in Sun A Lee’s article for the Korean Economic Daily. From Stateside, Ben Horney’s article for Front Office Sports provides more insight.
GOLF GLOVES MARKET SET TO SURPASS $330 MILLION BY 2035 AMID SURGE IN GLOBAL PARTICIPATION
The global golf gloves market is forecast to grow from $208.8 million in 2024 to $333.9 million by 2035, registering a compound annual growth rate (CAGR) of 4.5% over the forecast period, according to a new industry outlook. This growth is being fueled by rising interest in golf across emerging markets such as China, India, and South Korea, alongside technological advancements in glove design. Features like moisture-wicking fabrics, enhanced grip, and smart sensor integration are increasingly in demand among both professionals and amateurs. Market segmentation shows leather gloves remain dominant among elite players for their premium feel, while synthetic and hybrid options are gaining traction with cost-conscious and casual consumers. Online sales channels continue to expand rapidly, although specialty retail and mass-market outlets remain significant for brand visibility.
Despite positive growth indicators, the market faces headwinds including high costs for premium gloves, the threat of counterfeit products online, and environmental concerns surrounding traditional materials. However, these challenges are creating opportunities for innovation, particularly in the development of sustainable and customizable golf gloves made from recycled or biodegradable components. Demand is also being bolstered by golf tourism in regions such as Thailand, Dubai, and Scotland, with brands exploring partnerships with resorts and tourism boards. Major players like FootJoy, Callaway, Nike, TaylorMade, and Mizuno are competing on quality, innovation, and sustainability, while emerging brands are leveraging e-commerce to disrupt the market with affordable alternatives. As the sport continues its global expansion, particularly among younger and more diverse demographics, the golf gloves sector is expected to remain a key growth area within the broader golf equipment industry. The full report on the global golf glove market is available from Fact.MR, more information on obtaining the full report, can be found here.
LIGHTSPEED AND CLUB CADDIE SURGE AS FOREUP AND GOLFNOW FEEL THE PRESSURE IN TEE SHEET TECH SHAKE-UP
The first four months of 2025 have marked a significant shift in North America’s golf technology market, with Lightspeed Golf and Club Caddie emerging as early front-runners in the increasingly competitive tee sheet and booking engine space. According to SMBGolf’s latest tracking data, Lightspeed grew its client base by nearly 7%, while Club Caddie posted an industry-leading 20% surge, adding over 60 new accounts. Their gains came mainly at the expense of legacy vendors like foreUP, Teesnap, and Tee-On, which are all seeing market share erode, especially among public course operators demanding greater system reliability and customer support. Lightspeed’s integrated hospitality tools and Club Caddie’s dual advantage—operator insight from its golf-course-owning leadership and the deep development resources of parent company Vertus Group—have made both platforms particularly attractive to tech-savvy GMs seeking flexible, unified software environments.
Behind the numbers lies a deeper evolution in how golf course operators approach technology decisions. Increasingly, courses are unbundling their software stacks, pairing tee sheets with third-party booking engines that better support branding, pricing strategies, and user experience. Vendors like GolfBack, Sagacity, and CourseRev are capitalizing on this shift, while upstart Noteefy has grown from 60 to over 760 locations in just 16 months, thanks to its alert-based waitlist and dynamic inventory-filling tools. Meanwhile, the once-dominant EZLinks platform is in retreat, with operators turning instead to Troon Digital or lightweight engines like Let’s Play. As industry leaders prioritize dynamic pricing, frictionless bookings, and real-time integrations, the tee sheet has become more than just a scheduler—it’s now a strategic engine for profitability, performance, and brand experience. You can read more in Golf Course Technology’s in-depth report here.
TRUGOLF LAUNCHES PORTABLE LAUNCHBOX MONITOR, TARGETING GLOBAL GOLF TECH MARKET
TruGolf Holdings’ new portable launch monitor, LaunchBox, had its worldwide release on July 1st. Designed to offer tour-level accuracy at a price accessible to the everyday golfer, LaunchBox marks TruGolf’s entry into the $300 million portable simulator segment. The lightweight, camera-based unit provides over a dozen shot metrics without requiring special balls or markers and seamlessly connects to PCs and iOS devices via 5GHz Wi-Fi. Fully integrated with TruGolf’s E6 APEX simulation platform—powered by IBM watsonx.ai—LaunchBox features immersive capabilities including 1,500+ virtual courses, GPS mapping, club fitting, gamified challenges, and broadcast-style commentary. Priced from $2,200, the monitor also supports software and enclosure upgrades, positioning TruGolf to compete in the rapidly growing consumer golf tech space while expanding its digital ecosystem to a wider audience of home users and range players worldwide. More details of LaunchBox’s capabilities are available here.
BIRMINGHAM HOSTS GLOBAL GOLF TOURISM EVENT, SHINING SPOTLIGHT ON ALABAMA'S FAIRWAYS
More than 300 delegates from 33 countries convened in Birmingham, Alabama, for the 16th annual North America Golf Tourism Convention, organized by the International Association of Golf Tour Operators (IAGTO). Held along the acclaimed Robert Trent Jones Golf Trail, the event drew 70% of its attendees from North and Latin America, with others traveling from Europe, Australia, and Asia. Delegates engaged in two days of business meetings and rounds of golf at Oxmoor Valley and Ross Bridge, while pre- and post-convention tours showcased Alabama’s diverse courses from Mobile to Muscle Shoals. IAGTO CEO Peter Walton praised Birmingham’s hospitality and central location, calling the week both productive and enjoyable. Local leaders, including Greater Birmingham CVB CEO Dan Williams and Alabama Tourism’s Kerry Teague, highlighted the opportunity to promote Alabama as a premier golf destination. The convention is expected to boost Alabama’s golf tourism and hospitality industries in the months ahead. Further details of IAGTO’s North American Golf Tourism Convention in Birmingham, Alabama, can be found in ABC3340’s report here.
GOLFSTORE PARTNERS WITH TOPTRACER AND SWEETSPOT TO DRIVE DIGITAL GROWTH ACROSS EUROPE
Golfstore, one of Europe’s largest specialty golf chains, has entered into a transformative partnership with Toptracer and Sweetspot to bring cutting-edge range technology and streamlined business solutions to its 300 locations across seven countries. With stores situated directly on golf courses in Sweden, Denmark, Norway, Germany, Austria, the Netherlands, and Belgium, each staffed by PGA-trained professionals, Golfstore is now positioned to lead Europe’s golf digitalization wave. Toptracer’s interactive driving range systems, known to double visitor traffic and session duration, will enhance customer engagement, while Sweetspot’s platform will manage bookings, payments, and service packages. Golfstore CEO Johan Thellmark emphasized the partnership as “an investment in the future of golf,” one that boosts profitability and broadens the sport’s appeal. Together, the collaboration aims to attract new demographics, improve the golfer experience, and strengthen the operational performance of Golfstore members. More information on Toptracer’s partnership with Golfstore can be found in the full press release in The Golf Wire.
CIRCUITS
PGA TOUR RESTRUCTURES FEDEXCUP PAYOUTS WITH NEW THREE-TIER BONUS SYSTEM
The PGA Tour has introduced a revamped bonus distribution model for the 2025 FedExCup Playoffs, cutting the champion's payout from $25 million to $10 million and implementing a three-tier structure to reward season-long performance. The changes coincide with the elimination of the controversial “starting strokes” format for the Tour Championship, which will now revert to a traditional 72-hole stroke-play event at East Lake Golf Club in Atlanta. Under the new format, the $100 million total purse will be split across three stages: $20 million for the top 10 players in the standings after the regular season (with $10 million to the points leader), $23.93 million for the top 30 following the BMW Championship (with $5 million to the leader), and $57.08 million allocated based on final finishes at the Tour Championship, where the winner will receive $10 million.
Additionally, players ranked Nos. 31–150 will share $17.08 million in deferred compensation, further broadening the distribution of bonuses. The PGA Tour said the restructuring aims to “account for the increased volatility of the final event, reward season-long performance and recognize the significance of the FedExCup.” The Comcast Business Tour Top 10 bonus structure remains unchanged for 2025, maintaining a $40 million purse with $8 million awarded to the regular-season points leader. The overhaul was led by the PGA Tour’s Player Advisory Council business subcommittee, including Maverick McNealy, Keith Mitchell, Brandt Snedeker, and Kevin Kisner, with oversight by player director Patrick Cantlay. Front Office Sport’s David Rumsey crunched the numbers to compare potential payouts this season to last season. His findings can be viewed here.
BANK OF UTAH NAMED TITLE SPONSOR OF PGA TOUR EVENT AT BLACK DESERT RESORT THROUGH 2027
The PGA Tour and Black Desert Resort have announced Bank of Utah as the new title sponsor of the Bank of Utah Championship, set to return to Southern Utah’s Greater Zion region from October 23–26, 2025. Following a successful debut in 2024—the state’s first PGA Tour event in over six decades—the tournament will once again be held at the Tom Weiskopf-designed Black Desert Golf Course, with defending champion Matt McCarty expected to return. The multi-year agreement, which runs through 2027, brings together two Utah institutions committed to enhancing the state’s profile in professional sports, tourism, and community development. Bank of Utah President Branden P. Hansen emphasized the partnership’s long-term vision, calling it “a powerful platform to drive impact across the state.” At the same time, Black Desert developer Reef Capital Partners highlighted the shared ambition to deliver world-class experiences that reflect Utah’s unique spirit and landscape. Further details on the new partnership between Bank of Utah and the PGA Tour can be found here.
NEXO ANNOUNCED AS TITLE PARTNER OF DP WORLD TOUR’S NEXO CHAMPIONSHIP THROUGH 2027
Nexo, a leading digital assets wealth platform, has entered a three-year partnership with the DP World Tour, becoming the Tour’s Official Digital Wealth Platform and Title Partner of the newly named Nexo Championship, set to be held at Trump International Golf Links in Aberdeenshire from August 7–10, 2025. The tournament, formerly known as the Scottish Championship, will serve as the penultimate event of the DP World Tour’s Closing Swing, marking a significant stage in the 2025 season. As part of the agreement, Nexo will also serve as Official Partner to six other key tournaments, including the Genesis Scottish Open, Betfred British Masters, BMW PGA Championship, Abu Dhabi HSBC Championship, and the season-ending DP World Tour Championship in Dubai. In addition to on-course branding, Nexo will host curated hospitality experiences tailored to high-net-worth individuals. Further details of Nexo’s new partnership with the DP World Tour can be found here.
LIV GOLF SETS GLOBAL TONE FOR 2026 WITH EXPANSIVE INTERNATIONAL SCHEDULE
LIV Golf is set to maintain its international momentum in 2026 with nine of its 14 tournaments scheduled outside the U.S., according to a provisional calendar shared with league staff and team general managers during recent meetings in Dallas. The season will tee off February 5-7 in Riyadh, Saudi Arabia, followed by stops in Australia, Hong Kong, Singapore, and a debut event in South Africa—all before LIV returns stateside in April for an event in Mexico City. Domestic play begins in earnest with a Washington, D.C./Virginia event ahead of the PGA Championship, and continues later in the season with U.S. stops in New Orleans, Chicago, Indianapolis, and Michigan. Additional global venues include South Korea, Spain, and a UK tournament following The Open at Royal Birkdale. The 2026 lineup omits familiar venues like Trump Doral and Dallas, signaling LIV’s ongoing strategy to rotate markets and expand its global footprint. Final dates remain subject to change, but tournament locations are reportedly confirmed. Josh Carpenter’s article for Sports Business Journal features the full provisional calendar and can be viewed here.
RIPPER GC PARTNERS WITH GOLF AUSTRALIA TO POWER YOUTH GOLF THROUGH MYGOLF INITIATIVE
LIV Golf’s Ripper GC has announced a landmark three-year partnership with Golf Australia’s national junior initiative, MyGolf, rebranding the program as MyGolf powered by Ripper GC. Aimed at boosting golf participation among children aged 5–12, the collaboration introduces “Little Rippers” as the new identity for youth participants and aligns the team’s star players—including Cameron Smith, Marc Leishman, Lucas Herbert, and Matt Jones—with efforts to grow the game across Australia. In 2023, more than 40,000 children took part in MyGolf across 476 sites, with female engagement on the rise and over 107,000 students involved in the MyGolf Schools program. Backed by PGA Professional-led instruction, the initiative delivers a fun, skills-based experience designed to build confidence, friendships, and life skills. Golf Australia CEO James Sutherland praised the partnership as a transformative step for junior golf, while Ripper GC captain Cam Smith emphasized the team’s mission: “to get as many Aussie kids playing golf as possible.” More details on Ripper GC’s new initiative with Golf Australia can be found here.
EQUIPMENT
CALLAWAY LAUNCHES CB12 WEDGE WITH FORGIVING DESIGN AND ENHANCED SPIN TECHNOLOGY
Callaway Golf has officially released details of its new CB12 wedge. This short-game innovation features 12 grams of perimeter weighting to reposition the center of gravity and promote greater spin and control. Incorporating a new, tighter-pitched groove pattern borrowed from its Opus line, the CB12 also employs 37-degree wall angles to generate more spin around the green. The wedge integrates Urethane Microspheres for improved feel and a Tri-Sole design that enhances turf interaction, particularly benefiting players who hit behind the ball or struggle in bunkers. Available in lofts ranging from 50 to 60 degrees with a single versatile grind, the CB12 comes fitted with shaft options including the KBS High Rev 3.0, True Temper Denali Green, and Women’s UST Recoil. The wedge hits retail on July 18, priced at $179.99 (£129.99, €149.99) for steel and $189.99 (£139.99, €159.99) for graphite models. Details and ordering info for the new CB12 wedges are available at Callaway Golf.
PEOPLE TO WATCH
GARY WOODLAND NAMED FINAL VICE CAPTAIN FOR 2025 U.S. RYDER CUP TEAM. United States Captain Keegan Bradley announced Woodland as his fifth and final vice captain for the 45th Ryder Cup, set for September 23–28, 2025, at Bethpage Black. Woodland, 41, will make his first Ryder Cup appearance in any capacity, bringing international experience from the 2019 Presidents Cup, where he helped lead the U.S. to victory. He joins fellow vice captains Jim Furyk, Kevin Kisner, Webb Simpson, and Brandt Snedeker on Bradley’s leadership team. More details on Woodland’s appointment as vice captain can be found here.
PATRICK CUNNINGHAM NAMED ENGLAND GOLF PRESIDENT ELECT FOR 2026. England Golf has announced that Cunningham will serve as President Elect in 2026 before assuming the role of President in 2027.
With over two decades of involvement in the organization, Cunningham played a key role in launching the successful iGolf initiative and served a decade on the Club Services Committee. Additional information about Cunningham’s rise to President Elect of England Golf is available here.MIRABEL TING TO MAKE PROFESSIONAL DEBUT AT THE AMUNDI EVIAN CHAMPIONSHIP. The 19-year-old Malaysian standout, currently ranked No. 2 in the world amateur rankings, has chosen one of women’s golf’s five majors to begin her pro career. Ting’s amateur résumé includes 11 victories from her last 25 starts and the prestigious 2025 Annika Award.
Her transition marks one of the most anticipated moves in women’s golf this season, with eyes on her debut at the elite Evian Resort Golf Club. More details of Mirabel Ting’s switch to the professional ranks can be found at Fidelity Sports Group.
ALEXANDRA ARMAS TO STEP DOWN AS LADIES EUROPEAN TOUR CEO THIS OCTOBER. After six years at the helm, Armas will leave her role on October 1, concluding a tenure marked by significant growth and global progress in women’s professional golf. Since taking over in 2020, she has overseen the doubling of prize funds and strengthened the LET’s visibility and strategic partnerships worldwide. More details of Armas’ legacy as CEO of the Ladies European Tour can be found here.
MUST READ/WATCH
Aldrich Potgieter captured his first PGA Tour title last Sunday at the Rocket Classic. Potgieter became the youngest South African to win on the PGA Tour, and big things are expected of the highly talented South African. Potgieter is currently the longest driver on the PGA Tour, averaging 327 yards off the tee. Potgieter recorded eight drives over 330 yards in Detroit last week, with a 71st-hole 370-yard monster being one of those drives. Does Potgieter represent one of the strongest reasons yet for the proposed golf ball rollback? Mike Stachura’s article in Golf Digest looks closer at the argument using Potgieter as a prime example.
It’s fair to say that we are all a little fatigued with the “will they or won’t they” merger between the PGA Tour and PIF storyline. As life continues, do we care anymore? Which makes LIV Golf’s CEO Scott O’Neil’s in-depth interview with YouTuber Rick Shiels interesting, as O’Neil hints that the status quo is set to remain. However, the prospect of more cordial relationships between the tour’s two top men bodes well as O’Neil talks about his relationship with the newly appointed PGA Tour CEO, Brian Rolapp, and their time together at business school.
Zero torque putters. There is a growing army of converts to the new putter type, spearheaded by J.J. Spaun, who captured the U.S. Open last month by draining a monster 64-foot putt on the final green. Spaun was using L.A.B. Golf’s DF3 model, and interest in the putter went through the roof after Spaun’s victory. Ben Horney’s story for Front Office Sports covers how Sam Hahn, L.A.B. Golf’s founder, has been inundated since Spaun’s victory.
If you don’t know your zero-torque putter from your blade putter, Matt Saternus’s piece in Plugged in Golf, will help you understand the science behind zero torque putters, which type of golfer is likely to benefit the most from using a zero-torque putter, and the technique required to weild the putter to the same effect as Spaun.
Lastly, for today, how many of you out there suffer badly from hayfever and have had many a round ruined after an attack on the course that has left you sneezing uncontrollably and with puffed up watery eyes? Bunkered’s interview with allergens expert, Max Wiesberg, will help those pesky hayfever attacks be a distant memory.