<PAGE>

                                                                     EXHIBIT 4.4

FUNDING COMMITMENT LETTER AND SUBSCRIPTION AGREEMENT

         This Funding Commitment Letter and Subscription Agreement ("Letter") is
executed on this 15th Day of February, 2000, by and between Teakwood Ventures,
LLC "Subscriber," a Delaware LLC, and Divot Golf Corporation (the "Company") a
Delaware corporation. This Letter is intended to set forth the definitive
agreement between the parties concerning the purchase of Divot common stock by
Subscriber.

     1.  SUBSCRIPTION. Subscriber hereby subscribes to purchase the following
         Units of shares of Company's common stock (the "Divot Common") in the
         manner set forth herein:

         A.   Unit One: Two Million Dollars ($2,000,000.00) of Divot Common,
              priced at Seventeen Point Eight Two Cents ($.1782) per share
              (11,223,334 shares), based on a Market Capitalization for the
              Company in the amount of $28,000,000.00. Subscriber hereby
              subscribes for the purchase of Unit One on or before March 30,
              2000.

         B.   Unit Two: Two Million Dollars ($2,000,000.00) of Divot Common,
              priced at Seventeen Point Eight Two Cents ($.1782) per share
              (11,223,334 shares), based on a Market Capitalization for the
              Company in the amount of $28,000,000.00. Subscriber hereby
              subscribes for the purchase of Unit Two on or before June 30,
              2000.

         C.   Unit Three: Six Million Dollars ($6,000,000.00) of Divot Common,
              priced at Thirty One Point Eight Two Cents ($.3182) per share
              (18,856,065 shares), based on a Market Capitalization for the
              Company in the amount of $50,000,000.00. Subscriber hereby
              subscribes for the purchase of Unit Three on or before September
              30, 2000.

         This share price set forth in this Subscription shall be subject to
         modification in accordance with Section 2 of this Letter. All funds
         shall be paid via wire transfer in accordance with instructions to be
         provided by the Company in the amount equal to the purchase price for
         the Unit(s) hereby subscribed for. A Unit will be deemed purchased when
         payment is made for such Unit in the amount and in the manner set forth
         in this Agreement.

     2.  CONDITIONS TO SUBSCRIPTION. The Subscription set forth in Section 1 of
         this Agreement is conditioned upon the following covenants, agreements,
         representations, and warranties of the Company, which shall remain in
         full force and effect during the term of this letter (unless such
         covenant is to remain in effect for a longer period in accordance with
         its terms):

         (a)  Repricing Limit Loss: The Company hereby agrees that if the per
              share market price of Divot Common falls below an amount
              equivalent to a total market capitalization of $200,000,000.00,
              and such reduction in market price
<PAGE>

              remains in effect on any of the dates Subscriber has subscribed
              for the purchase of a Unit, the share price effective for the
              purchase of such Unit shall be adjusted by the same percentage of
              the loss in value of the Divot Common.

         (b)  REGISTRATION OF SHARES: When purchased in accordance with this
              Subscription, the Divot Common shall be registered pursuant to the
              filing by the Company of an SB-2 Registration Statement with the
              Securities and Exchange Commission.

         (c)  TRADEABILITY: When purchased in accordance with this Subscription,
              the Divot Common shall be freely tradable by the Subscriber upon
              the effective date of the SB-2.

         (d)  SHARE CERTIFICATES: When purchased by Subscriber in accordance
              with this Letter, the Company shall issue share certificates
              representing the purchased Divot Common in accordance with the
              Subscriber's instructions.

         (e)  SEATS ON BOARD OF DIRECTORS: The Company shall make two (2)
              outside seats available for the Subscriber's appointees on the
              Company's Board of Directors which shall continue to consist of
              five (5) members. The Company shall undertake all steps necessary
              to ensure the election of the Subscriber appointees to the Company
              Board at the next annual meeting of Company shareholders. In
              addition, the Company hereby confirms the appointment of Aditha
              Reksono as a Special Advisor to the Company's International
              Advisory Board.

         (f)  BUSINESS DEVELOPMENT: The Company shall actively seek out and
              include the involvement of Subscriber in all global business
              development activities, including international investments and
              strategic partnerships.

         (g)  NO COMMISSIONS: The Company hereby represents and warrants that no
              commissions shall be paid to any individual or entity in
              connection with Subscriber's investment as described in this
              Letter.

     3.  REPRESENTATIONS AND WARRANTIES OF SUBSCRIBER: As an inducement to the
         Company to offer to the Subscriber the Divot Common for which it has
         subscribed, the Subscriber hereby represents and warrants to the
         Company as follows, such representations and warranties to survive the
         Subscriber's becoming a shareholder of the Company

         (a)  This Letter constitutes the valid and legally binding obligation
              of the Subscriber, enforceable against the Subscriber in
              accordance with its terms, except as enforceability may be limited
              by bankruptcy, insolvency, reorganization and other similar laws
              now or hereafter in effect relating to creditors' rights
              generally.
<PAGE>

         (b)  The execution, delivery and performance by the Subscriber of this
              Letter and the transactions contemplated hereby and thereby will
              not constitute a breach of any terms or provisions of, or a
              default under, (i) any outstanding indenture, mortgage, loan
              agreement or other similar contract or agreement to which the
              Subscriber or any of the Subscriber's affiliates is a party or by
              which the Subscriber or any such affiliate or its or their
              property is bound, (ii) if the Subscriber is a corporation or
              other legal entity, its Certificate or Articles of Incorporation
              or By-Laws or other constituent documents, (iii) any law, rule or
              regulation, or (iv) any order, writ, judgment or decree having
              applicability to it.

         (c)  No consent, license, approval or authorization of any governmental
              body, authority, bureau or agency is required on the part of the
              Subscriber or any of the Subscriber's affiliates in connection
              with the execution, delivery and performance of this Letter, or
              the consummation of the transactions contemplated hereby or
              thereby.

         (d)  The Subscriber has received and read carefully all documents
              furnished to the Subscriber relating to and describing the Company
              and the Divot Common. The Subscriber has had access to all
              additional information necessary to verify the accuracy of the
              information furnished to it, and has taken all the steps necessary
              to evaluate the merits and risks of an investment in the Company.
              The Subscriber understands that the Business Plan contains the
              reasonable estimates of Company's management and that no assurance
              can be given that the financial projections can be met. Subscriber
              understands that these securities are highly speculative.

         (e)  The Subscriber is an "Accredited Investor" as that term is defined
              in Section 501(a) of Regulation D promulgated under the Securities
              Act of 1933, as amended.

     4.  GOVERNING LAW. This Letter shall be governed by and construed in
         accordance with the laws of the State of New York as if performed
         entirely within such state, without giving effect to conflicts of law.

     5.  NOTICES. Any notice or communication required under this Agreement to
         be made to either party shall be typewritten in English and shall be
         considered delivered when personally delivered, delivered by registered
         U.S. Mail with confirmed receipt (postage prepaid), or delivered by
         overnight courier to the address of the party as set forth below:

         (a) IF TO THE COMPANY:    Divot Golf Corporation
         ----------------------    One Union Square South, Suite 10-F
                                   New York, NY 10003
                                   Attention: Joseph R. Cellura, Chairman & CEO
<PAGE>

         (b) IF TO THE SUBSCRIBER:  Teakwood Ventures, LLC
         -------------------------  276 5th Avenue, Suite 603,
                                    New York, NY 10001
                                    Attention: Aditha Reksono

     6.  TITLES AND CAPTIONS: All article and section titles or captions in this
         Agreement are for convenience only. They shall not be deemed a part of
         this Agreement, and in no way define, limit, extend, or describe the
         scope or intent of any of its provisions.

     7.  BINDING EFFECT: This Agreement shall be binding upon and inure to the
         benefit of the Parties and their successors, legal representatives, and
         permitted assigns.

     8.  ENTIRE AGREEMENT: This Letter constitutes the entire agreement between
         the parties hereto, and supersedes all prior and contemporaneous
         agreements, arrangements, negotiations, and understandings between the
         parties hereto relating to the subject matter hereof. There are no
         other understandings, statements, promises or inducements between the
         parties, oral or otherwise, contrary to the terms of this Letter. No
         representations, warranties, covenants, or conditions, express or
         implied, whether by statute or otherwise, other than as set forth
         herein have been made by any party hereto.

         IN WITNESS WHEREOF, the parties have executed this Funding Commitment
Letter and Subscription Agreement as of the date first set forth above.

DIVOT GOLF CORPORATION                         TEAKWOOD VENTURES, LLC


/s/ Joseph R. Cellura                          /s/ Aditha Reksono
---------------------                          ------------------
Joseph R. Cellura                              Aditha Reksono
Chairman and C.E.O.                            Managing Director