New report details LIV Golf’s “staggering losses”

Saudi Arabia’s Public Investment Fund has invested almost FIVE BILLION dollars in LIV Golf since the league’s launch.

The latest Money In Sport newsletter made the claim after reviewing financial reports filed by LIV’s UK arm.

The British division manages all of LIV’s operations outside of the US and, whilst there are some positive signs, as we’ll get to, the increase in operating losses – from $244 million in 2022 to $394 million in 2023 – is surely concerning.

“The losses being incurred by LIV are piling up at a staggering rate, necessitating regular injections of new capital by the Saudi PIF,” states the report.

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“We know from the statutory reporting by the Jersey holding companies that the total capital approved by PIF is now at $3.9 billion, $1.0 billion of which relates to LIV Golf UK and the balance to LIV Golf Inc in US.

“Clearly, the US financials must be considerably worse than the rest of the world performance reported by LIV Golf in UK.

“PIF’s investment in LIV Golf could approach $5 billion by the end of this year, with further big bills on the horizon if they want to retain the top golfers as their contracts expire.”

Now, about those positives.

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LIV’s revenues increased from $4.9 million in 2022 to $37.1 million. The league’s Australian event providing 45% of that total ($16.6 million).

Tournament hosting fees made up LIV’s largest category of revenues, amounting to 37% of income.

The ‘per tournament’ expenses also fell from $10 million in 2022 to $7,3 million.

However, broadcast rights amounted to only $3 million – around 8% of total revenue.

You can view Money in Sport’s complete update here.

LIV Golf is currently in Adelaide where it staging the second event of its third full season. Poland’s Adrian Meronk won the season-opener in Riyadh last week.

Michael McEwan is bunkered's Head of Content and has been part of the team since 2004. In that time, he has interviewed almost every major figure within the sport, from Jack Nicklaus, to Rory McIlroy, to Donald Trump. The host of the multi award-winning bunkered Podcast and a member of Balfron Golfing Society, Michael is the author of three books and is the 2023 PPA Scotland 'Writer of the Year' and 'Columnist of the Year'. Dislikes white belts, yellow balls and iron headcovers. Likes being drawn out of the media ballot to play Augusta National.

Head of Content