Bold and full of possibilities, guests can enjoy a high-energy atmosphere, combining competitive socializing and innovative auto-scoring technology within an immersive experience as they move from one course to the next. Puttery is a modern spin on putting, re-defining the game with unique twists at every hole. Today, our portfolio consists of American Golf, Drive Shack and Puttery. is a leading owner and operator of golf-related leisure and entertainment businesses focused on bringing people together through competitive socializing. In addition, Rory is the lead partner of Symphony Ventures, which has an investment portfolio of technology companies across health, wellness, and golf.ĭrive Shack Inc. Rory has partnerships with NBC, Nike, Omega, Optum and TaylorMade. So far, he has spent 106 weeks as number one in the Official World Golf Ranking. A member of the European and PGA Tour, Rory has won 28 tournaments worldwide, including four major championships and two FedEx Cups.
#DRIVE SHACK DALLAS PROFESSIONAL#
Rory McIlroy is a professional golfer from Northern Ireland. The foregoing description of the investment transactions is qualified in its entirety by the description included on the Form 8-K filed by Drive Shack Inc. Please see the Company’s Form 8-K filed today for the full terms of the definitive agreement. Beginning in 2024, the investment group may elect for all or a portion of the venue LLC interests to be converted into common equity of the Company.
In lieu of a cash distribution, the investment group may elect to deposit cash returns into a capital account designated to fund investments in future venues through 2023. We look forward to building a long-standing relationship with Rory and his team, bringing our Puttery vision to life in the coming weeks.”Ī pro-rata cash distribution of venue net cash flows equal to the ownership percentage will be made to the investment group on a quarterly basis. “Their involvement and viewpoints have helped shape this innovative concept from the start. President and Chief Executive Officer Hana Khouri. “Rory and his team have been incredible partners throughout our entire Puttery evolution,” said Drive Shack Inc. plans to open or nearly complete a total of seven new Puttery venues by the end of 2021, with four of the locations previously announced in Dallas Charlotte, N.C. His deep knowledge and perspective of the game will be instrumental for many years to come as we further expand our Puttery brand,” said Drive Shack Inc. “Everyone knows Rory is a highly respected, world-renowned golfer. Thereafter, Symphony Ventures will have the right, but not the obligation, to invest on the same terms through all Puttery venues that open by the end of 2023. Investments will begin with the first Puttery location near Dallas (The Colony, Texas), and continue consecutively on a venue-by-venue basis until the commitment is satisfied. Symphony Ventures has committed an investment of at least $10 million over Puttery’s three-year development schedule, in exchange for 10% ownership in the equity of each Puttery venue that is planned to open through 2023 at a price equal to 10% of the total cost to build each venue.
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