Current:Home > MarketsAfter 100 rounds, what has LIV Golf really accomplished? Chaos and cash -MarketStream
After 100 rounds, what has LIV Golf really accomplished? Chaos and cash
View
Date:2025-04-15 19:36:41
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! (9283)
Related
- American news website Axios laying off dozens of employees
- It's Apple Macintosh's 40th birthday: How the historic computer compares with tech today
- Dex Carvey, son of Dana Carvey, cause of death at age 32 revealed
- Melanie, singer-songwriter of ‘Brand New Key’ and other ‘70s hits, dies at 76
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- Turkey formally ratifies Sweden’s NATO membership, leaving Hungary as only ally yet to endorse it
- Biden extends State of the Union invitation to a Texas woman who sued to get an abortion and lost
- With Vic Fangio out, who are candidates to be Dolphins' defensive coordinator for 2024?
- Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
- Binge and bail: How 'serial churners' save money on Netflix, Hulu and Disney
Ranking
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Jill Biden invites Kate Cox, Texas woman who was denied emergency abortion, to be State of the Union guest
- Senator Tammy Duckworth calls on FAA to reject Boeing's request for safety waiver for the 737 Max 7
- Hong Kong’s top court restores activist’s conviction over banned vigil on Tiananmen crackdown
- Breaking debut in Olympics raises question: Are breakers artists or athletes?
- Netflix wants to retire basic ad-free plan in some countries, shareholder letter says
- 6 bodies found at remote crossroads in Southern California desert; investigation ongoing
- Actor Tom Hollander received 'astonishing' Marvel check meant for Tom Holland
Recommendation
From bitter rivals to Olympic teammates, how Lebron and Steph Curry became friends
More heavy snow expected in Japan after 800 vehicles trapped on expressway
Who is Gracie Abrams? Get to know the Grammy best new artist nominee's heartbreaking hits.
China expands access to loans for property developers, acting to end its prolonged debt crisis
Senate begins final push to expand Social Security benefits for millions of people
Kyle Richards and Daughter Sophia Reflect on “Rough” Chapter Amid Mauricio Umansky Split
Mel B’s Major Update on Another Spice Girls Reunion Will Make You Stop Right Now
State seeks to dismiss death penalty for man accused of killing Indianapolis cop