Current:Home > FinanceAfter 100 rounds, what has LIV Golf really accomplished? Chaos and cash -ProfitZone
After 100 rounds, what has LIV Golf really accomplished? Chaos and cash
View
Date:2025-04-17 23:43:45
LIV Golf marked its 100th round Friday since the controversial league stunned the industry 26 months ago.
The idea, hatched by Greg Norman, took off once Saudi Arabia, through its Public Investment Fund, agreed to throw billions of dollars at the project.
LIV touted this venture as one that would grow golf by taking the league's unique, untraditional format globally. And while that can be questioned, what cannot be disputed is LIV has gotten the attention of the PGA Tour, and directly affected its finances and economics, and the money being directed toward golfers.
"We've changed the face of golf," Bubba Watson said Wednesday, ahead of this weekend's LIV event at Greenbrier in White Sulphur Springs, West Virginia. "So to be on that side of history is pretty special."
Watson then compared this to when Jack Nicklaus was instrumental in the first big split in professional golf that led to the forming of the PGA Tour in 1968. Nicklaus, though, strongly disagrees that the two are even related.
Scheffler can thank LIV for record earnings
Either way, Watson is spot-on when he says, "Scottie Scheffler has made a lot of money this year because of the changes that we've started putting in place."
LIV's impact on the PGA Tour has been significant. Every move the tour has made in the past two years to infuse money into the game, including the creation of Signature Events, more events with $20-$25 million purses, and pouring money into the Player Impact Program, has been a reaction to LIV and its endless stream of Saudi money.
One way to reduce the number of players jumping to LIV is to compete financially. The tour did that by pumping millions into its purses and billions into the game with a $3 billion deal with Strategic Sports Group that includes an initial investment of $1.5 billion into the launch of a commercial venture, PGA Tour Enterprises.
Scheffler has made $28.1 million this year in prize money with two $20 million purses, St. Jude and BMW championships, remaining ahead of the Tour Championship that will distribute $100 million, $25 million to the winner.
By the end of the season, Scheffler could make five to seven times what the tour's top earner made in 2020-21, the year before LIV debuted. That does not include his share of the $50 million that will be distributed through the Player Impact Program, which rewards players for brand exposure.
In 2021, Jon Rahm topped the PGA Tour money list with $7.7 million. Rahm is LIV's most recent blockbuster signing, luring the Spaniard with a reported $350 million deal that could surpass $550 million after bonuses.
Joaquin Niemann LIV's money leader in 2024
Joaquin Niemann is LIV's prize money leader in 2024 with $14.2 million through 12 of the 13 individual events. LIV concludes its season with the team championship on Sept. 20-22 at Maridoe, north of Dallas.
The prize money, though, is not the biggest lure for the handful of marquee golfers who made the jump to LIV. What got their attention was the massive contracts, especially those reportedly for at least $100 million that went to Rahm, Phil Mickelson, Brooks Koepka, Bryson DeChambeau, Dustin Johnson and Cameron Smith.
"Things need to evolve. Things need to change," LIV's Patrick Reed said Wednesday. "I feel like that's what LIV is. They've stepped into a world that was all about tradition only and changed the face of golf for the better. And I feel like with LIV, we're now allowed to touch a lot broader and better way of golf. Golf is boring, slow, long, and we've now brought in the fast and more entertaining part of life."
While LIV certainly has impacted the sport where it matters most for the players, in their bank accounts, other areas have not been as consequential.
LIV's format, which includes 13 four-man teams playing 54 holes with no cut, has not taken off as hoped. While LIV golfers praise the team aspect, which does add a piece of additional drama and "family" atmosphere, the league continues to struggle to attract viewers and has been hurt by the OWGR board denying LIV's application to receive ranking points.
Despite that, money talks, and nobody can dismiss how much more of an impact LIV could have on the sport regardless of whether a deal is reached with the PGA Tour. Tour Commissioner Jay Monahan said this week that the two sides will continue to operate separately next year, casting doubt that a deal is anywhere close.
"When people start to see the true value that we're bringing, that intrinsic value is only going to exponentiate over the course of time, which is what I'm excited for," DeChambeau said. "I'm waiting for that kind of domino effect, for it to start falling in that cool direction that we see here on our side at LIV, especially with the team aspect."
veryGood! (42389)
Related
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Dispute over criminal jurisdiction flares in Oklahoma between tribal police, jailers
- At least 5 US-funded projects in Gaza are damaged or destroyed, but most are spared
- Cristina Pacheco, foremost chronicler of street life in Mexico for half a century, has died at 82
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- DOT puts airline loyalty programs under the microscope after lawmakers raise concerns
- Longtime Chicago Alderman Ed Burke found guilty of corruption
- Used car dealer sold wheelchair-accessible vans but took his disabled customers for a ride, feds say
- Louvre will undergo expansion and restoration project, Macron says
- Glee’s Darren Criss and Wife Mia Expecting Baby No. 2
Ranking
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- CBS News poll: Connections and conversations — and why they matter
- Pornhub owner agrees to pay $1.8M and independent monitor to resolve sex trafficking-related charge
- NFL has ample qualified women vying to be general managers. It's up to owners to shed bias.
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Peso Pluma is YouTube's most-streamed artist of the year: See the top 5
- A South Korean religious sect leader has been sentenced to 23 years in prison over sex crimes
- Dreaming of a white Christmas? Try Alaska. Meanwhile, some US ski areas struggle with rain
Recommendation
Grammy nominee Teddy Swims on love, growth and embracing change
How a 19th century royal wedding helped cement the Christmas tree as holiday tradition
'Everyone walked away with part of themselves healed' – 'The Color Purple' reimagined
Two people who worked for former Michigan House leader are charged with financial crimes
As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
'Rebel Moon' star Charlie Hunnam discusses that twist ending. What happened? Spoilers!
Longtime Chicago Alderman Ed Burke found guilty of corruption
Biden believes U.S. Steel sale to Japanese company warrants ‘serious scrutiny,’ White House says