The sale of a majority stake in Topgolf and Toptracer announced in Nov. is complete, Callaway said in a release, as Leonard Green & Partners’ purchase of 60% of the off-course venue business closed on Jan. 1. MODG saw about $800 million in net cash proceeds from the sale between the $1.1 billion valuation of Topgolf and related financing transactions. In connection with the closing, MODG paid down about $1 billion in debt under its term loan B facility, leaving it with about $480 million in outstanding debt—including $258 million in ... Log in to view full article.