LIV Golf is a professional golf Tour that is organized and funded by the public investment fund of Saudi Arabia. The controversial tour has raised speculation with many claiming that it is a way of the Saudi Government to try and whitewash its public image after violating human rights. Besides, LIV golf is also meant to lure golfers from participating in PGA and DP Tours.
According to the Saudi Government, LIV golf funding is meant to promote golf and the growth of tourism in Saudi Arabia.
What is LIV Golf?
LIV golf is a professional golf tour that is financed by the public investment fund, the sovereign wealth fund of Saudi Arabia. LIV golf has attracted a lot of attraction due to large amounts of money given to golfers to lure them from the PGA and DP Tour.
Many golfers have abandoned PGA and DP Tour to compete in the LIV golf series. The first four events of LIV golf had a prize of $25 million, not including an undisclosed signing fee every LIV golfer was to earn for participating. There will also be an appearance fee which is higher than what players can make in PGA and DP Tours.
Also read: Why do rich people play golf?
How Much are LIV Golfers Paid?
The amount LIV golfers will be earning has not been disclosed yet. However, fees will include a signing fee, appearance fee, and prize money that will depend on the rank of the tournament.
How Much Will LIV Golf Winners Get?
Winners of LIV golf tournaments will receive a prize of $16 million which will be split among the four team members. Each team member will receive $4 million for those who will emerge winners.
Those who come second will take home $2.125 million while those who will emerge third will take home $1.5 million. For LIV golf, even the golfer who emerges last will take home $120,000 unlike in PGA and DP Tour where the golfer who finishes last does not get anything.
Are There Golfers Who Have Signed Up for LIV Golf?
Yes. Some of the golfers who have signed up contracts for LIV golf include Phil Mickelson for $200 million, Dustin Johnson for $150 million, and Bryson DeChambeau for $100 million.
Tiger Woods was also offered a $700 million deal but declined for his loyalty to PGA Tour.
Also read: How does golf make money?
Is LIV Golf Good for the Sport?
In my opinion, LIV golf is not good for golfers since it will water down the high set standards for golf Tours. If golfers are not careful, it may end up like boxing. Golfers need to look beyond the huge cash giveaways to avoid watering down the sport.
Top 10 LIV Golf Individual Winnings 2022
The following are the top 10 individual winnings of LIV golf 2022.
Why are So Many People against LIV Golf?
Many people are against LIV golf because Saudi Arabia is using sports as a cover up for its appalling human rights.
Is LIV Golf Profitable?
It is hard to argue whether LIV golf has been successful or not. But from a financial perspective, LIV golf is likely to make a loss. It is because it did not sign a media rights deal or agree to terms with any sponsor during its first year. Considering that many sports leagues do not make money through ticket sales and merchandise, then LIV golf could make a huge loss on the $800 million they spent during their first year.
Summary of LIV Golf
LIV golf is funded by the Saudi Government as a way to whitewash its public image for violation of human rights. There has been a lot of speculation regarding LIV golf funding. The Saudi Government says that the motive behind it is to promote golf and the growth of tourism in Saudi Arabia. Top golfer Tiger Woods declined a $700 million offer for his loyalty to PGA and DP Tour.