Golf’s $70 Billion Dollar Industry is back

Golf’s $70 Billion Dollar Industry is back

Golf lost it’s groove after the housing market crashed in 2008. Millenials had all but left the golf scene. Tiger Woods reputation was tarnished, and everyone seemed to have left golf with a bad taste in their mouth. Golf Courses closed, Nike abandoned golf, and there was a huge gap between old legends like Phil Mickelson and newcomers like Rory McEllroy. However, things are changing. Jordan Spieth and Rickie Fowler have brought the youth back into golfing, and an estimated 2.5 million new players have joined the sport. Apollo Global Managment trusts that golf will continue to rise and has acquired country club operator ClubCorp Holdings Inc. in a massive takeover for $1.1 billion. Golf is coming back into the mainstream and money is flowing around the sport again.

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