Current:Home > FinanceAfter 100 rounds, what has LIV Golf really accomplished? Chaos and cash -Mastery Money Tools
After 100 rounds, what has LIV Golf really accomplished? Chaos and cash
View
Date:2025-04-14 01:28:34
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! (38)
Related
- Sonya Massey's father decries possible release of former deputy charged with her death
- Shanghai records hottest day in May in 100 years, weather service says
- Why Katherine Heigl Had to Leave Hollywood to Raise Her Kids
- Prom Dresses Under $100: 23 On-Trend Styles Worthy of a Viral Moment
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- More children than ever displaced and at risk of violence and exploitation, U.N. warns
- Transcript: Rep. French Hill of Arkansas on Face the Nation, May 28, 2023
- A 47-year-old ship could cause one of the worst oil spills in human history. Here's the plan to stop it.
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Man killed by 40 crocodiles that pounced on him after he fell into enclosure in Cambodia
Ranking
- The Daily Money: Spending more on holiday travel?
- RHONJ's Jennifer Aydin Reveals If She's Ever Considered Divorce Amid Marriage Problems
- Watch 2023 Human Rights Watch Film Festival documentaries in NYC and at home
- Blinken says no Russia-Ukraine peace possible until Kyiv can defend itself and Putin pulls his troops out
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Killer whales are ramming into boats and damaging them. The reason remains a mystery.
- Ulta 24-Hour Flash Sale: Take 50% Off Clinique, Urban Decay, Dermablend, Dermalogica, PMD, and Exuviance
- These Iconic Blake Lively and Beyoncé Outfits Are Getting the Royal Treatment at Kensington Palace
Recommendation
Sam Taylor
How Kieran Culkin Felt About Macaulay Culkin's Home Alone Fame
Woody Harrelson and Justin Theroux's Plans Go Down the Drain in White House Plumbers Trailer
Why the water in Venice's Grand Canal turned fluorescent green
Biden administration makes final diplomatic push for stability across a turbulent Mideast
Many Afghans who fled Taliban takeover two years ago are still waiting for asylum in U.S.
Chloe Bailey Shares How She Handles Criticism Over Sultry Posts
Cardi B and Her Entire Family Have Joined the Cast of the Baby Shark Movie