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Tiger Woods and Rory McIlroy’s new league has announced the latest franchise to be sold off.

A New York-based franchise for the innovative golf league has had a ‘controlling stake’ purchased by Steve Cohen.

The 67-year-old hedge fund powerhouse has an estimated net worth of $17 billion and owns the New York Mets.

He bought the Major League Baseball side in 2020 for $2.4 billion, although financial details of the agreement with the TGL were not released.

In a statement, Cohen said: “As golf continues to grow in popularity, there’s a demand for enhanced access to the sport and the world’s top players.

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“We’re excited to be a part of TGL and build a team that makes New York proud.”

The New York native is now the fourth of six ‘franchise owners’ for the TGL, which hopes to have its franchises represent six major American markets.

Atlanta, Boston, and Los Angeles have all attracted a star-studded list of owners so far, including Fenway Sports Group and Venus and Serena Williams.

In partnership with the PGA Tour, TGL was created by TMRW Sports, a new venture formed by sports executive Mike McCarley, Tiger Woods, and Rory McIlroy.

It will launch in January 2024, with events held on Monday nights in conjunction with the PGA Tour schedule.

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By taking a tech-based approach to golf, many of the game’s biggest stars will join forces in six teams of three to compete on virtual courses.

The regular season will run for 15 matches before a two-week play-off schedule.

Despite investing in major American TV markets, all competition will be held at an arena in Palm Beach, Florida.

Aside from McIlroy and Woods, ten other players have committed to the start-up league.

Jon Rahm, Justin Thomas, Collin Morikawa, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Rickie Fowler and Billy Horschel will all feature.

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John Turnbull A graduate of the University of Stirling, John joined the bunkered team in 2023 as a Content Producer, with a responsibility for covering all breaking news, tour news, grassroots content and much more besides. A keen golfer, he plays the majority of his golf at Falkirk Golf Club. Top of his 'bucket list' is a round of Pebble Beach... ideally in the company of Gareth Bale.

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