Mets owner Steve Cohen has gained the franchise rights to the latest team in the TGL golf league, becoming the fourth owner in the six-team league that begins play in January. Cohen's family office, Cohen Private Ventures, will manage the team that will represent the N.Y. area. A team name and branding will be rolled out at a later date. Cohen has not determined the leadership structure for the team, but a source said Andrew B. Cohen, the chief investment officer and co-founder of Cohen Private Ventures, is expected to play a key role. He also reportedly is joining as a minority investor. The two Cohens are not related.
Cohen's move, his first major investment in the golf space, means the TGL now has teams in four major markets, as franchises in L.A., Boston and Atlanta have already been established. Cohen also joins a list of stick-and-ball owners in the league that includes Tom Werner and John Henry (Boston) and Arthur Blank (Atlanta). Cohen's investment falls outside the trend of the first three owners, who were all initial investors in TMRW Sports last year. Evolution Media Capital, the financial investment banking arm of CAA, has been handling the team sale process. Financials around the purchase were unclear.
Next for the TGL is finalizing its ownership roster as well as solidifying its group of 18 players, 12 of which have already been announced. That is expected to come sometime following the Ryder Cup at the end of this month. TGL will begin broadcast testing at its facility at Palm Beach State College in November.
