Golfer says new business venture will give him a ‘competitive outlet beyond golf’
The partnership – with global alternative asset management giant TPG to create TPG Sports – is aimed at investing “with companies, teams, and leagues shaping the future of sports.”
McIlroy told the Sunday Independent in an exclusive interview that the new business venture is aimed at providing him with a “competitive outlet beyond golf”.
McIlroy’s appetite to add to the five majors he has now won remains undimmed by his recent success at Augusta in the US Masters, which saw him achieve an historic career Grand Slam. But the golfer has long looked to develop his brand beyond the game, establishing his own investment vehicle, Symphony Ventures, six years ago.
The move into a much bigger investment partnership with San Francisco based TPG – which in total has $246bn in assets under management – is a more ambitious push into the world of investment for the Northern Irish star.
The strategy has secured a significant anchor commitment from Lunate, an Abu Dhabi-based independent alternative investment manager with more than $110bn in assets under management.
While I’m still competing at the highest level, golf remains my top priority
McIlroy and the golfer’s long-time business manager Seán O’Flaherty are expected to take “a hands-on approach” in TPG Sports, “contributing to sourcing investments and value creation across the portfolio”.
McIlroy told the Sunday Independent that “over the past 18 years, my interest in investing has grown naturally through the many business relationships I’ve developed since turning professional.”
McIlroy and O’Flaherty created Symphony Ventures in 2019 “to pursue a more sustainable, long-term business that moves beyond the traditional athlete endorsement model,” he said.
The duo have previously founded Golf Pass in conjunction with NBC Sports and co-founded TGL (or the TMRW Golf League).
“That journey led to the formation of TPG Sports, which I hope will continue to grow and ultimately provide me with a competitive outlet beyond golf, even as I plan to keep playing for at least another 10/15 years,” said McIlroy.
“Winning the Masters and completing the career Grand Slam was always a personal dream, never about financial rewards – but this achievement undoubtedly elevates my place in the history of the game and brings with it the potential for long-term commercial opportunities,” said McIlroy.
Rory McIlroy and manager Seán O’Flaherty after the Masters win on April 13 last. Photo: Getty
The way golf has evolved, players can make a lot of money in the short-term by going to LIV.
While McIlroy is reported to have made at least $100m in winnings over his career, he has made substantially more than that from sponsorships and investments.
Other big-name golfers have chosen to do extremely lucrative deals to play on the Saudi- backed LIV golf tour – but McIlroy has chosen not to go that route.
“While I’m still competing at the highest level, golf remains my top priority.
“Building my business around the existing platform I have with the PGA Tour and DP World Tour felt like the least disruptive path, both for me and for my game,” he said.
Tiger Woods, Arnold Palmer and Jack Nicklaus have all surpassed the billion-dollar barrier in terms of earnings but TPG Sports could help push McIlroy there too.
It’s fortunate timing that my win coincided with the launch of TPG Sports
In 2016, U2 singer Bono, a friend of McIlroy’s, established his own investment partnership with TPG called The Rise Fund. The singer sent his friend a personal message of congratulations following his victory at the Masters, it is understood.
The timing of his Masters win has been fortuitous in terms of his big new business venture.
“Seán and myself have been working on TPG Sports since December 2023, and it’s fortunate timing that my win coincided with the launch of TPG Sports which has been planned for some time,” said McIlroy.
“Through Symphony Ventures, we have had a long relationship with TPG that has developed organically through numerous successful investments together – and through these experiences, we gained first-hand insight into TPG’s people, culture and strong track record.
“These experiences inspired us to deepen our partnership over time, ultimately leading to the creation of TPG Sports,” he said.
Rory McIlroy and Shane Lowry at the Zurich Classic in New Orleans on April 26. Photo: Getty
“After partnering on a number of investments with TPG over the past six years, we learned a lot about each other and recognised that our complementary skill sets could be highly beneficial if we focused on sports-specific businesses together.
“The right timing and a shared vision ultimately brought this partnership to life.”
McIlroy said that while he planned to commit time to the new venture, it would not become a distraction to him on the golf course.
“Myself and Seán will serve as operating partners at TPG Sports, dedicating significant time and resources to sourcing investments and supporting the long-term growth of the portfolio.
Having interests outside of golf has always been important, it helps me stay balanced
“This commitment mirrors the time I’ve consistently devoted to Symphony Ventures since its inception. Having interests outside of golf has always been important to me; it helps me stay balanced – and ultimately perform at my best on the course.”
The deal could also prove to be very lucrative for O’Flaherty, who has long looked after the golfer’s business affairs and has sought ways to advance his off-course interests beyond the traditional sponsorship route.
“It’s been an incredibly exciting journey and the privilege of a lifetime to partner with and support Rory,” O’Flaherty told the Sunday Independent.
Rory McIlroy dons the green jacket. Photo: Getty
“His stature in the game offers a rare opportunity to build a lasting business platform, and we’re still only at the beginning. TPG has been an outstanding partner over the past few years, and our shared experiences have naturally led to the formation of TPG Sports.”
O’Flaherty described McIlroy as “an incredibly curious person with a genuine interest in investing”.
“While golf remains his top priority, he’s highly effective at compartmentalising his on-course and off-course commitments. With his brand so relevant, we have a unique opportunity to build long-term ventures that will endure beyond his playing days.”
He said the goal with TPG Sports was “to prioritise long-term vision over short-term gains, creating a sustainable business that runs in parallel with his career.”
“Having a sense of purpose and interest after golf is something that matters deeply to him,” said O’Flaherty.
