Submitted by Kerry Capell
On Friday, March 22, 2024, Palm Beach State College’s District Board of Trustees (DBOT) unanimously approved an amended 20-year ground lease agreement between the College and TMRW Sports, the company founded by Tiger Woods and Rory McIlroy and CEO Mike McCarley. The new lease is for the construction of 250,000 square feet, 1,500 seat steel-supported structure at the Palm Beach Gardens campus that will serve as the home of the TGL interactive golf league, owned by TMRW Sports.
The PBSC-TMRW Sports transaction is based upon the appraised fair market value of the parcel and the projected rental proceeds for a commercial lease. Throughout the 20-year lease term the College will collect more than $10.2 million in rent for the 10-acre parcel located on the southern border of the Palm Beach Gardens Campus. “It is a testament to the strength of the partnership between TMRW Sports and PBSC that we reached an agreement that is a win-win for both,” said Patrice Bishop, Chair of the Board.
TMRW Sports will continue partnering with the college on student-focused and academic initiatives during the lease term, including internships, job fairs, curriculum development, and shared use of the facility. Additionally, TMRW Sports made a $1 million gift to the Foundation for Palm Beach State College and will offer publicity and marketing benefits through the venue and globally televised broadcasts. “One of the primary advantages of our partnership with TMRW sports is their clear commitment to PBSC and to enriching the learning experiences and career opportunities of our students,” said PBSC President Ava L. Parker, J.D.
TMRW Sports revised its construction plans for the venue after the original vinyl, inflatable, air-supported dome was damaged beyond repair following a severe storm and power outage last November. This delayed the start of TGL play until early 2025 and led to TMRW Sports to propose a permanent steel-supported structure. “It’s our aim to create a venue that not just the college but the Palm Beach communities and the fans will enjoy visiting for years and years to come,” McCarley said.
“I would like to thank the Board of Trustees, Mike McCarley of TMRW Sports and our senior leadership team for working closely to bring this deal to fruition,” said PBSC’s Parker. “I also want to extend a very special thank you to the community, both the city of Palm Beach Gardens as well as the Business Development Board of Palm Beach County, the County Board of Commissioners and other leaders who were there to support the project but most specifically, our neighbors, who worked closely with us and now understand this is a valuable asset for our community.”
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