Greg Norman to lead new professional golf tour venture

“I have been a staunch supporter and believer in playing and developing golf in Asia for more than four decades. The Asian Tour is a sleeping giant and we share ambition to grow the series and unlock what we believe is significant untapped potential. We see our promotion of these new events as a vital first step in supporting emerging markets, creating a new platform, rich with playing opportunities that create valuable player pathways.”

LIV Golf Investments has been established with group companies in the USA, UK, with Asian offices to follow. Several high-profile C-Suite executives have already been appointed, with further announcements to follow in due course. PIF, one of the world’s largest sovereign wealth funds with a diverse international investment portfolio, is the majority shareholder in the new company.

• Man’s body recovered from golf course lake

Plans are in place to introduce further investment partners, who share the passion and belief in how new opportunities in professional golf can create widespread benefit for fans and players.

“This is the single biggest development in the history of the Asian Tour and a major milestone for professional golf,” said Cho Minn Thant, the Commissioner and Chief Executive Officer of the Asian Tour. “The opportunity will secure unprecedented new playing opportunities, establish new player pathways, allow us to compete commercially with other sports, and enhance our social agenda.

“We are particularly excited at the prospect today’s landmark announcement brings to the amateur game, providing new inspiration to aspiring players through a new level of top-flight professional competition in the region.”

The series will add to the Asian Tour’s backbone of established events to comprise a 25-event season, expected to represent a record-breaking combined prize-fund in 2022. Each of the ten new events will be broadcast live across the globe, with plans to attract an international field of headline talent through an open eligibility category regardless of tour affiliation so opportunities are available to the broadest cross section of players.

• Man’s body recovered from golf course lake

Today’s announcement closely follows the striking of a new ten-year partnership between the Asian Tour and Golf Saudi, the organisers of the Saudi International powered by SoftBank Investment Advisers, which will see the event become the flagship tournament on the Asian Tour, featuring an increased prize fund of $5m.

The Saudi International will not be one of the ten new events to feature as part of the new series but will itself provide enhanced exemption requirements.