Versant Acquires Tiger Woods-Backed Full Swing for $530M
Key Questions
What company did Versant acquire and for how much?
Versant acquired Full Swing, a golf simulator company backed by Tiger Woods, for $530 million from Bruin Capital. The deal expands Versant's presence in golf as the parent of Golf Channel.
How much could Tiger Woods earn from the Full Swing acquisition?
Tiger Woods holds a 1-2% stake in Full Swing from his investment since 2015, which could now be worth up to $10.6 million. This comes amid his halted golf career following a DUI arrest and rehabilitation.
How does this acquisition relate to the TGL golf league?
The purchase ties into TGL, the Tiger Woods-backed golf league, as Full Swing provides simulators for the league. It signals Versant's growing involvement in TGL and related media rights.
Why is Versant making this acquisition?
Versant is expanding its golf portfolio through the purchase of Full Swing, aligning with its ownership of Golf Channel. This move positions the company deeper in golf technology and entertainment.
What is the current status of the Versant-Full Swing deal?
The acquisition is in a developing stage, with Versant having agreed to buy Full Swing for $530 million. Further details on closing and integration are pending.
Versant acquires Full Swing, a golf simulator company Tiger invested in since 2015. Tiger's 1-2% stake now worth up to $10.6M. This is a major financial signal and ties into TGL and media rights.