Tiger Woods and Rory McIlroy are launching a new technology-focused company around sports, media and entertainment, TMRW Sports, pronounced “Tomorrow Sports”. Former Golf Channel President Mike McCarley is also a founder and will serve as CEO.

“Over the past few years off the course, my focus has been on helping lead golf into its digital future,” McIlroy said in a press release. “Now, by joining forces with Tiger, Mike and other TMRW Sports partners, we can shape the way media and technology enhance the sports experience.”

On Sunday, golf week reported that the company would bring together the best golfers in the world to compete in a stadium environment at one-day events starting in 2024. This would be done in partnership with the PGA Tour, which would likely eliminate participation LIV golfers. The plan was shared with tour members last week at a players-only meeting, per golf week. Players would have the opportunity to build equity in the business.

The venture attracted a roster of initial investors with strong ties to the banking and sports business worlds. They include longtime NBC Sports executive Dick Ebersol, former Goldman Sachs partner and NFL executive vice president Eric Grubman, Dynasty Equity co-founder Don Cornwell, former NHL COO John Collins , and John Daly, former president of global equity capital markets at Goldman Sachs.

Woods ($73.5 million) and McIlroy ($38.4 million) were the two highest-paid golfers in the world before LIV upended the sport’s financial structure with nine-figure bonuses to join the circuit backed by Saudi Arabia. Both golf pros have full lists of endorsement partners but have increasingly sought to build equity as part of their portfolios, similar to other top athletes such as Tom Brady, LeBron James, Naomi Osaka and Kevin Durant.

TMRW will be part of Woods’ TGR Ventures portfolio, which also includes PopStroke, Full Swing Golf, TGR Design, The Woods Jupiter and Heard. McIlroy’s investment partnership, Symphony Ventures, has interests in Puttery, GolfPass, GolfNow Compete, Golf Genius, Golf+, Troon Golf, Hyperice and Whoop.

“So many athletes, artists and people I meet from all walks of life share our passion for sports, but they also share our desire to build a better future for the next generation of sports fans,” Woods said in a statement, promising to “harness technology to bring new approaches” to the sport.