AUGUSTA, Ga. — It certainly wasn’t easy. 

With a birdie on the first playoff hole against Justin Rose, Rory McIlroy won the 2025 Masters Tournament to become just the sixth golfer to complete the career grand slam, winning all four major championships. The victory puts him in rarified air, on and off the course, that will extend well beyond his prime playing days.

McIlroy won the U.S. Open, Open Championship (also known as the British Open), and two PGA Championships from 2011 to 2014. But he had to wait 10 years, 8 months, and 4 days after his last major win at Valhalla Golf Club before claiming victory at Augusta National Golf Club on Sunday, and putting on the Green Jacket.

McIlroy, 35, joins Tiger Woods, Jack Nicklaus, Gary Player, Ben Hogan, and Gene Sarazen in winning the career grand slam. Aside from their combined 51 major championships, those other five men have robust business across nearly every aspect of the golf industry—from apparel to golf course design to club manufacturing and more. 

The $4.2 million winner’s check McIlroy takes home from the Masters puts his career earnings at just over $104.24 million, second only to Tiger Woods ($120.99 million). But as a fellow grand slam winner, McIlroy will now have greater cache to capitalize on his starpower. McIlroy has already shown a big interest in off-course business endeavors, as he co-founded the TGL indoor golf league, which launched this year, alongside Woods.

McIlroy currently has a long-term apparel deal with Nike and equipment pact with TaylorMade, which are believed to be bringing in at least a combined $20 million annually, if not more.

Lights, Camera, Action

In what should be great for TV ratings on CBS, the final leg of McIlroy’s grand slam came during a wildly entertaining, up-and-down final Masters round that ended with him in tears as the patrons chanted his name around the 18th green.

Bryson DeChambeau, who was in the final group with McIlroy, finished tied for fifth, four strokes behind, after many thought it might be a head-to-head battle between those two that would bring monster viewership.

The dramatic victory for McIlroy—who has been a big TV draw on the PGA Tour this season—will likely help CBS see a spike in TV ratings, compared to last year’s Masters, which suffered a 20% final-round viewership dip as Scottie Scheffler easily won his second Green Jacket in front of a national TV audience of 9.59 million people.

ESPN averaged 2.7 million viewers for its afternoon coverage of the first and second rounds on Thursday and Friday. That was down 21% from last year, when Woods was competing in the Masters, and made the cut.

AUGUSTA, Ga. — The Masters Tournament is not only the first and most popular major championship of the men’s golf season. It’s also the place where the most business in the sport gets done in one week.

While the world’s top golfers compete at Augusta National Golf Club, the top power brokers in golf gather in town to hash out current affairs and plan for the future.

After spending the week in Augusta, Front Office Sports has three big takeaways from the scene about the state of professional golf, and what might lie ahead.

1. The Masters wants the PGA Tour and LIV Golf to figure it out.

“I think we all agree that four times a year is not enough to have the great players of the game together,” Augusta National chairman Fred Ridley said Wednesday at his annual pre-Masters press conference.

That may seem like a no-brainer comment. But the Masters doesn’t need any single player, tour, or league. It’s the biggest tournament in golf, and will almost assuredly thrive no matter the state of professional golf.

It would be easy for Augusta National to stay out of the merger talks, and continue to capitalize on being the first time each year when PGA Tour and LIV players meet. But having the support of the most powerful entity in golf can only be a good thing for efforts to unite the two tours. 

While Ridley wouldn’t say what he thinks a reunion should look like, one sentiment I heard from multiple insiders is that if there isn’t a full-blown merger in the next 12 months, there could at least be momentum for a co-sanctioned event between the PGA Tour and LIV Golf.

2. LIV’s new leader doesn’t sound concerned about his tour’s existence.

I caught up with Scott O’Neil, who took over LIV’s CEO position from Greg Norman in January, on Thursday afternoon at the 18th green. 

O’Neil was invited by Augusta National, unlike Norman the previous two years. “We’re pleased to have him as our guest,” Ridley said Wednesday. “Although I don’t have any specific plans to meet with him, I know that we will have some discussions with him, and we’re happy that he’s here.”

As we watched LIV’s Bubba Watson, a two-time Masters winner, conclude his first round with an impressive up-and-down par from more than 100 yards out, it was clear that O’Neil—most recently the CEO of theme park operator Merlin Entertainments after a stint running the 76ers and Devils—is relishing his return to sports.

O’Neil happily shared some stories about coaxing extra media hits out of LIV’s top players and his recent interactions with President Donald Trump, who owns the course LIV played at in Miami earlier this month. O’Neil was obviously hopeful a LIV player might take the Green Jacket, and Bryson DeChambeau nearly did it before a tough finish to his final round.

My biggest takeaway after talking to O’Neil? He sounds more than content with where LIV Golf stands right now—deal or no deal with the PGA Tour. 

3. The Tiger Woods effect persists.

The five-time Masters champion was supposed to be in Augusta last week to play in the Masters and for the announcement about him designing a nine-hole short course in town. But his Achilles injury kept Woods out of the tournament. His absence contributed to a drop in early-round TV ratings, compared to last year, when he did play.

While the crowd following Rory McIlroy and Bryson DeChambeau was huge on Sunday, the fandom for those two—and all the other top players—still pales in comparison to that of Woods. Still, I was surprised (maybe I shouldn’t have been) at how many Sun Day Red logos I saw around Augusta National at the Masters. Less than a year after Woods launched his apparel brand, it looks like his post-Nike business plan is coming together nicely, even if the new tiger logo is dealing with a few trademark disputes.

In the aftermath of Tennessee quarterback Nico Iamaleava and the Volunteers football program parting ways due to an NIL (name, image, and likeness) dispute, most of the college football world is siding with the school, not the player.

“It’s the state of college football,” Tennessee coach Josh Heupel told the Vol Network on Saturday. “No one is ever bigger than the program. That includes me, too. We’ve got an opportunity. We’ve got a bunch of guys that will give their all for Tennessee”

Most coaches who weighed in on the situation over the weekend expressed similar sentiments.

“We’re not going to do that at Miami, and I say that without any hesitation,” Miami’s Mario Cristobal said. “If anyone’s thinking that—and they could be the best player in the world—if they want to play holdout, they might as well play get out. We don’t want to do that, and we don’t want Miami to become that.”

LSU coach Brian Kelly said he thinks the Iamaleava situation “is the first version of correction” coming to NIL in college football. “I think we are going to see a lot of this,” Kelly said. “This was a new world. I think we are going to navigate the best we can, but I think there are going to be other situations that come.

Same Old Story?

Fox’s No. 1 college football TV analyst Joel Klatt called the Tennessee–Iamaleava “wild and yet totally predictable!”

“Of course this was going to happen when there are no guard rails and rules to govern the business and movement of the sports players,” Klatt tweeted. “You may not like what Nico is doing but it is certainly his right.”

ESPN’s Adam Rittenberg wrote, “The disruptiveness of moves like Nico’s—when it happened, how many people and teams it could impact—should be an inflection point for CFB, but probably won’t be. We’ll get another set of complaints, pleas to congress, and nothing will change. Rinse and repeat.”

Iamaleava will be able to enter the transfer portal when it opens on Wedneday—for 10 days—but he won’t be able to sign with another SEC team, since the conference has a Feb. 1 transfer deadline to be eligible for fall sports. 

Southern California, North Carolina, and Indiana are some of the schools rumored to potentially have interest in the quarterback.