A report has revealed just how much money LIV Golf have spent in their inaugural season which comes to a close in Miami at Trump National Doral.
The inaugural season of the LIV Golf Invitational Series comes to a close this weekend with the $50m team championship in Miami.
One team of four will split $16m after three days’ play at Trump National Doral. The favourites to do so are Dustin Johnson’s 4 Aces.
It is a simply staggering amount of money. When play finishes on Sunday, LIV Golf will have given away $255m in prize money through eight events.
That will increase in 2023, with LIV Golf hosting 14 events globally and handing out $405m in prize money.
Money and sportswashing are clearly two of the biggest talking points with the LIV Golf Tour. To some, they are the only talking points.
LIV are still without a much-needed TV deal, something that was rumoured to be all-but completed a few weeks ago with LIV apparently willing to pay Fox Sports 1 for coverage going forward.
But all has gone silent.
An extensive expose by SI’s Bob Harig has shone a light on LIV Golf’s finances through their first season.
But one little nugget has been found by Harig and that is reportedly just how much money LIV Golf have spent so far.
Wrote Harig:
“LIV’s first-year expenditure, according to a source, is pegged at $784 million all-in. Another $1 billion is committed for next year as the schedule will increase to 14 events.”
Crikey.
Going forward, LIV’s path to financial prosperity and the ability to recover their investment so far will hinge on that TV deal and selling off their teams as franchises.
Just how long will the Saudi royal family keep bankrolling this without LIV really taking off?!
Phil Mickelson believes LIV Golf is here to stay. Just a few weeks ago he told us he was on the “winning side”.
Harig added:
“The idea is to eventually sell off the teams as franchises. Mickelson, Johnson, DeChambeau, Koepka and Na are among 12 team captains, some of whom have been given equity stakes in their teams. LIV Golf would be paid a franchise fee ($100 million? $200 million? $500 million?), and in time the teams would take over paying their own expenses while earning revenue through sponsorships and marketing and even the sale of tickets and merchandise.”
What have you thought of LIV Golf so far? Are you fed up of it? Have you enjoyed the coverage? Do you think it’s here to stay?
Let us know in the comments below.
Article originally appeared on: Golfmagic.com
You are correct, they have to get a TV contract and they will. When that happens the viewers will end up watching the Thursday, Friday and Saturday matches big time. Why? Because they are exciting and with 18 teams on the field at the same time you have constant viewing opportunities. The PGA will stay with their same old, same old watch 3 golfers and their caddies standing in the fairway looking at their yardage books with two of the three standing and waiting. It’s boring as hell and it will not last if there is competition. As the money increases more of the top players will make the move and then it’s goodby from the Sunday viewers.
LIV in not for me, as I am more of a traditionalist. Just watching some of these guys on youtube is a joke.
I do not have any interest in LIV golf and I am OK if it goes or stays, either way……….
too much coverage of a yet to prove itself idea. If ANY new product, eg a cell phone platform, received the amount of free publicity, Apple and Android might become obsolete like ice delivery man and the rotary dial.
Too many articles on he said/she said and we are gonna and you are gonna.
but not too many articles on facts.
A few professional golfers 48 of over 28,000+ (including pga members) left to make millions on a new tour. Did they want the upfront money or the big purses. They got both. To date, there are about 4-8 guys capable of winning on the PGA TOUR and quite a few that are in the Autumn of their careers. LIV could fill the gap between the PGATOUR and the Champions Tour; those 8 years when few are competitive and await the retirement gift.