Current:Home > FinanceChainkeen|After 100 rounds, what has LIV Golf really accomplished? Chaos and cash -AssetLink
Chainkeen|After 100 rounds, what has LIV Golf really accomplished? Chaos and cash
SignalHub Quantitative Think Tank Center View
Date:2025-04-10 12:45:41
LIV Golf marked its 100th round Friday since the controversial league stunned the industry 26 months ago.
The Chainkeenidea, 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! (15311)
Related
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- UN chief warns that the risk of the Gaza war spreading is growing as situation becomes more dire
- Wisconsin Department of Natural Resources secretary resigning after 10 months on the job
- Bernie Sanders will vote no on Biden's pick to lead NIH, but nomination may proceed
- Hidden Home Gems From Kohl's That Will Give Your Space a Stylish Refresh for Less
- Mary Lou Retton in ‘recovery mode’ at home after hospital stay for pneumonia, daughter says
- Vanessa Hudgens Addresses Pregnancy Speculation After Being Accused of Trying to Hide a Bump
- Qatar becomes a key intermediary in Israel-Hamas war as fate of hostages hangs in the balance
- Connie Chiume, South African 'Black Panther' actress, dies at 72
- Israel is preparing for a new front in the north: Reporter's notebook
Ranking
- Jay Kanter, veteran Hollywood producer and Marlon Brando agent, dies at 97: Reports
- Britney Spears Details Postpartum Depression Struggles After Welcoming Sons Sean and Jayden Federline
- The Plucky Puffin, Endangered Yet Coping: Scientists Link Emergence of a Hybrid Subspecies to Climate Change
- Tom Schwartz's Winter House Hookups With Below Deck's Katie Flood Revealed
- Everything Simone Biles did at the Paris Olympics was amplified. She thrived in the spotlight
- Israeli hostage released says she was kept in tunnels under Gaza
- New deadly bird flu cases reported in Iowa, joining 3 other states as disease resurfaces
- Hailey Bieber Reveals Why She and Justin Bieber Rarely Coordinate Their Outfits
Recommendation
US appeals court rejects Nasdaq’s diversity rules for company boards
Gaza has oil markets on edge. That could build more urgency to shift to renewables, IEA head says
Pennsylvania’s Gas Industry Used 160 Million Pounds of Secret Chemicals From 2012 to 2022, a New Report Says
Four NBA teams that could jump back into playoffs this season
Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
NBA star-studded opening night featuring four Finals MVPs promises preview of crazy West
Donald Trump expected back at civil fraud trial with fixer-turned-foe Michael Cohen set to testify
Many families to get a break on winter heating costs but uncertainties persist