Current:Home > ContactAfter 100 rounds, what has LIV Golf really accomplished? Chaos and cash -Thrive Financial Network
After 100 rounds, what has LIV Golf really accomplished? Chaos and cash
View
Date:2025-04-17 09:23:59
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! (1167)
Related
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- As 'Golden Bachelorette' premiere nears, 'Hot Dad' Mark Anderson is already a main man
- Before lobster, Maine had a thriving sardine industry. A sunken ship reminds us of its storied past
- 'It is war': Elon Musk's X sues ad industry group over 'boycott' of Twitter replacement
- Average rate on 30
- Chipotle CEO Brian Niccol taking over as Starbucks chief executive; Narasimhan steps down
- Browns rookie DT Mike Hall Jr. arrested after alleged domestic dispute
- Brat summer is almost over. Get ready for 'demure' fall, a new viral TikTok trend.
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Donald Trump is going to North Carolina for an economic speech. Can he stick to a clear message?
Ranking
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Channing Tatum Reveals How Riley Keough Played Matchmaker for Him and Now-Fiancé Zoë Kravitz
- Are sweet potatoes healthy? This colorful veggie packs in these health benefits.
- What are the gold Notes on Instagram? It's all related to the 2024 Paris Olympics
- US appeals court rejects Nasdaq’s diversity rules for company boards
- 4 people shot on Virginia State University campus, 2 suspects arrested
- Where Kyle Richards Really Stands With RHOBH Costars After Season 13 Breakup Drama
- Vikings rookie QB J.J. McCarthy to undergo surgery for torn meniscus; timetable unknown
Recommendation
Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
US Army soldier pleads guilty to selling sensitive military information
Emirates NBA Cup 2024 schedule: Groups, full breakdown of in-season tournament
'Massive' search for convicted murderer who escaped on way to North Carolina hospital
The White House is cracking down on overdraft fees
Blake Lively posts domestic violence hotline amid 'It Ends With Us' backlash
Kylie Jenner opens up about motherhood in new interview: 'I'm finally feeling like myself'
Jorō spiders, the mysterious arachnids invading the US, freeze when stressed, study shows