There’s plenty to digest from the New Yorker’s comprehensive article on the past, present, and future of LIV Golf.
LIV, a new golf league funded by Saudi Arabia’s sovereign wealth fund, aims to rival the P.G.A. Tour—and has cleaved the world of professional golf into warring camps. https://t.co/JIxl4K8dhs
— The New Yorker (@NewYorker) October 17, 2022
One topic that was covered in a conversation with Saudi Golf Federation CEO Majed Al Sorour was how long the Public Investment Fund (PIF)—the branch of the Saudi Arabian government that is funding LIV Golf—would invest in the fledgling league.
Sorour said that the PIF has committed to funding LIV through 2025. That is in line with the information divulged in a press release announcing the series in May.
LIV Golf has just announced an expanded event schedule for 2023-2025 with $2 billion “dedicated to golf’s global growth.”
Details of future schedules are TBA. pic.twitter.com/bD197pEPgo
— Mark Harris (@itismarkharris) May 10, 2022
After that, Sorour said he envisioned the group would recoup its investment by selling off ownership of the 12 teams to the players. The major question Moving Forward, however, is what these franchises would be worth.
Will golfers clamor to be a part of the 4 Aces, currently headed by Dustin Johnson, moving forward? That’s what the Saudis are banking on, but Rory McIlroy is a bit skeptical.
“People have to remember: golf is a niche sport. All you’re getting is four golfers. And I get it, some M.L.S. teams are worth seven hundred million dollars. But it’s all tied to the economics of the league, and right now [LIV Golf] doesn’t have any economics,” McIlroy told the New Yorker.
Embed from Getty Images
The issues between now and 2025 for LIV will be to be solvent both financially and within the golf world.
Major sports, including the PGA Tour, thrive on billion-dollar television rights deals, and as of now, LIV Golf is showing its tournaments for free on YouTube, and there are reports that LIV will be on cable channel FS1 but in a pay-for-time deal.
The second domino that needs to fall in LIV’s favor is securing Official World Golf Ranking points, which the league is also in a fight to acquire with no resolution as of yet.
Cover Image via Twitter
