Tiger Woods and Rory McIlroy receive major boost ahead of TGL season

Tiger Woods and Rory McIlroy's TMRW Sports has received a major boost ahead of its new TGL season in 2025 after being backed by investment firm Dynasty Equity Partners. 

Woods and McIlroy are co-founders of TMRW Sports alongside sports media executive Mike McCarley. 

TMRW Sports is the parent company of Woods and McIlroy's TGL, a new tech-infused golf league that will eventually start up in early 2025.

TGL was due to tee off earlier this season but it was forced into a year-suspension after the stadium roof caved in. 

A number of the world's best PGA Tour players will be involved in TGL, but runaway World No.1 Scottie Scheffler and European Ryder Cup hero Viktor Hovland have decided they do not want to be involved. 

Scheffler smashed what many deemed an 'unbreakable' record set by Woods in 2000 over the weekend.

Related: TGL teams, players

In the latest update, TMRW Sports has now secured major backing from Dynasty Equity Partners, an investment firm co-founded by K. Don Cornwell and Jonathan Nelson.

According to Bloomberg, the funding round, led by Dynasty and Connect Ventures, now values TMRW Sports at a whopping $500m. 

"The capital injection will fuel expansion into new formats, leagues, territories and media properties," Michael Blank, head of consumer investments at Connect Ventures, told Bloomberg.

It is also understood TMRW Sports is in further discussions 'with over governing bodies', according to TMRW co-founder McCarley.

Other sources with inside information have confirmed 'a push into women's golf is among other options being considered'.

Woods and Mcllroy are both taking some time out of competitive action as they bid to gear up for The Open at Royal Troon, Scotland, from 18-21 July.

McIlroy, 35, was due to participate in last week's final signature event of the PGA Tour season at the Travelers Championship but he decided to withdraw following his agonising near-miss at the US Open where he missed two short putts on the closing holes to hand the title to LIV Golf's Bryson DeChambeau.

The Northern Irishman is set to next tee it up at the Genesis Scottish Open, a week before The Open.

Woods, 48, is not expected back in action until The Open. 

The 15-time major champion has only been able to play in four competitive tournaments this season.

He withdrew during the second round at the Genesis Invitational, before going on to finish dead last (60th) of those that made the cut at The Masters.

Woods then missed back-to-back cuts at the US PGA and US Open. 

Following his last MC in the season's third major of the season, Woods admitted he may have played in his last ever US Open.