Topgolf Callaway Brands Corp. (MODG) is hitting the reset button. The company announced Tuesday it's selling a 60% stake in its Topgolf and Toptracer business to private equity funds managed by Leonard Green & Partners for roughly $1.1 billion. Shares dropped 6.25% to $10.20 in premarket trading as investors digested the news.
Topgolf Callaway Unloads Topgolf for $1.1 Billion to Refocus on Golf Roots
Get Topgolf Callaway Brands Alerts
Weekly insights + SMS alerts
The Deal Breakdown
Here's what the math looks like: Topgolf gets valued at around $1.1 billion total, and Topgolf Callaway expects to pocket approximately $770 million in net proceeds after adjustments. The company's board unanimously approved the transaction, which should wrap up in the first quarter of 2026.
Once the deal closes, there's a corporate identity shift coming too. The company plans to drop the Topgolf name entirely and go back to calling itself Callaway Golf Company, complete with a new NYSE ticker symbol: CALY.
Back to Basics
This isn't just financial engineering—it's a strategic pivot back to what the company knows best. Topgolf Callaway is refocusing on its Golf Equipment & Active Lifestyle platform, which includes brands like Callaway, Odyssey, TravisMathew, and Ogio. That streamlined portfolio pulled in roughly $2 billion in revenue over the last twelve months through Q3 2025.
The company plans to use the proceeds wisely: reinvest in core brands, pay down debt, and return capital to shareholders, likely through stock buybacks. As of September 30, the company had $865.6 million in cash and cash equivalents on hand, so there's flexibility to work with.
More News

Trump Orders DOJ Probe Into Big Oil, Says Americans Are Being 'Gouged' At The Pump: 'Gasoline Prices Better Start...'
Get a Stake in OpenAI and Anthropic — Today

Futures Mixed as Trump Targets Gas Prices, FedEx Drops, and Micron Earnings Loom

Commerce Secretary Lutnick Warns of Chinese Robot Threat, Signals Crackdown on 'The Arms Race That Is Coming'

Tesla's Model Y and Model 3 Are the Most American-Made Cars Again — Here's Why That Matters Now

Trump's Secret Retirement Fund

Bill Cassidy's $1.5 Trillion Social Security Hail Mary: Invest in Stocks, Avoid the Pain

The U.S. Government Is Betting $17.5 Billion That Nuclear Can Save the Grid
Get Topgolf Callaway Brands Alerts
Real-time alerts on price moves, news, and trading opportunities.
Join 20,000+ investors. No spam, ever.
Featured Articles
View all news
Trump Orders DOJ Probe Into Big Oil, Says Americans Are Being 'Gouged' At The Pump: 'Gasoline Prices Better Start...'

Trump and Elon Are Back (Ad)

Futures Mixed as Trump Targets Gas Prices, FedEx Drops, and Micron Earnings Loom

Commerce Secretary Lutnick Warns of Chinese Robot Threat, Signals Crackdown on 'The Arms Race That Is Coming'

Tesla's Model Y and Model 3 Are the Most American-Made Cars Again — Here's Why That Matters Now

Elon “xPhone” Exposed (Ad)

Bill Cassidy's $1.5 Trillion Social Security Hail Mary: Invest in Stocks, Avoid the Pain





