$100M LIV Golf Fiasco Puts Greg Norman and Al-Rumayyan in an Alarming Spot, Amid PGA Tour Merger Limbo

2023 was a total whirlwind for the golf world; a lot happened during this year, but one topic that kept everybody on tenterhooks was the $3 billion merger between the leagues. The merger saga doesn’t seem to end anytime soon, with the deadline for the agreement being further pushed to 2024. However, it appears that the alternate tour now has something else to worry about as other reports surface, throwing light on the Saudi-backed circuit’s finances.

LIV Golf’s financials and the future it paints

The flashy prize money in the numerous events, coupled with the insane player signings, brought a lot of attention to the PIF-funded league following its inception in 2022. Moreover, the increase in the former from $255 million in the inaugural season to $405 million in 2023 seemed to spell good news for the golfers on the circuit.

However, things are not what it seems, apparently! New talks have emerged in the community speculating how LIV Golf has “rumored” to have “generated” only “less than $100M in revenue during the 2023 season.” This would come off as a shock no less for the governor of the PIF and the Saudi-backed league’s CEO since it amounts to just one-fourth of the total prize money that was offered during the same.

Moreover, as per sources, the CW Network, which has streamed and televised the events from the alternate tour, “does not pay the league for broadcast rights.” Consequently, this has led to the circuit garnering only an “estimated $2-3M” as TV revenue in 2023. Such news, combined with the insane amount of prize money that was reported to be offered for Jon Rahm, does cause worry for the league.

However, these just add to the already existing worries regarding the merger that arose not too long ago. Although many, including Tiger Woods, were upbeat about the deal being completed by the year-end, reports have painted a different picture for the same.

Merger concerns for LIV Golf

The 82x PGA Tour winner along with Jay Monahan had put forth their commitment to seeing the merger finalized by the end of the year. The Commissioner of the PGA Tour, during the New York Times Dealbook Summit, had declared his decision to keep the last day of December as “a firm target.” 

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Even though the framework agreement was set to be signed and sealed by December 31st. Sources now talk about how the negotiations have seen an extension, following which it is hoped to see an end before the 2024 Masters Tournament.

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