LIV Golf’s Demise Possible Due to Tiger Woods’ $800 Million Decision: Report

The year 2022 saw a revolutionary change in the sport of golf. The launch of LIV Golf brought a civil war among the world of golfers. Some chose to join the Breakaway Tour while other stayed loyal to the PGA Tour. Though nearly every top golfer became a defector and joined hands with the Saudi Backed Tour, the fanciest name in the sport, Tiger Woods, chose to become anti-LIV Golf. And if the predictions are true, he might be the reason why the newfound Tour will fold very soon.

Before looking at why Woods staying on the American Tour is a problem for LIV Golf, let’s take a look at the financial state of the Tour.

LIV Golf bought everyone on the PGA Tour and persuaded Tiger too

LIV Golf is currently preparing for its second season which will commence in 2023 onwards. However, the inaugural season was no short of an attraction. The Tour managed to grab more attention on the headlines and prize money, than on the course. In early 2021, a financial project named ‘Project Wedge’ was brought to light by the Public Investment Fund in Saudi Arabia.

The oil-rich Middle Eastern Country approved the idea to become the new head of golf. However, following the inaugural season that cost more than $750 million, even the financial consultancy firm suggested an alternate outcome than promised. The Greg Norman-led Tour made its intentions clear that the LIV Golf was no joke.

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They quickly signed some of the biggest names in the sport, starting from Phil Mickelson, Dustin Johnson, and Bryson DeChambeau to name a few. Nonetheless, as per the target of management, the Tour wanted to acquire at least 12 biggest names in the world of golf.

Undoubtedly, Tiger Woods and Rory McIlroy are widely considered the fan-favorite golfers of the past decade. Deeming to the fact that every top golfer has been offered a LIV Golf contract, Woods too was proposed to join the Breakaway Tour. The decision of the 15-time Major would change the outline of golf.

A ‘NO’ from Tiger Woods is good enough for the downfall of LIV Golf

Being the biggest name in the sport, rumors swirled around Woods to be offered a LIV Golf contract. However, the LIV CEO, Greg Norman, doubled down on the rumors as he claimed Tiger declined an $800 million offer from them.

Though a refusal from the Hall of Famer was itself a huge loss for the Breakaway Tour, he would eventually become the voice of the PGA Tour in the war against their nemesis. Tiger is currently preparing to form a golf league, named TGL alongside his fellow PGA Tour loyalist Rory McIlroy which will commence in the January of 2024. The league will be played under the PGA Tour banner.

But is the formation of TGL and refusal from 15 time Major winner enough for the downfall of LIV Golf? As per the predictions of the ‘Project Wedge’, the Saudi-backed Tour could earn $1.4 billion annually in 2028. But for that possibility to occur, the Tour needs to sign further top names, attract more sponsors, and land a huge television deal.

However, with plundering viewership and failure to sell the tickets at their golf tournaments, LIV Golf struggles to rely on revenue rather than the PIF remains imminent. The $1.4 billion each year comes under the positive scenario. However, in case the Tour fails to reach its desired objectives, it will face an exorbitant loss of $355 million each year.

Signing Tiger Woods could have changed that scenario since he remains the biggest name in the sport. He recently retained the number-one position in the Player Impact Program rankings, despite barely competing at professional events. Albeit Tiger may be cast in bronze, he still has the caliber to deliver golden moments. And that’s why he remains the most valuable golfer.

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