As the CEO of a new private golf business whose mission statement is to “unlock the sport’s untapped potential,” Greg Norman made a promise in LIV Golf Investments’ inaugural press release recently.
“This is only the beginning,” Norman said. “LIV Golf Investments has secured a major capital commitment that will be used to create additive new opportunities across worldwide professional golf.”
Rest assured that commitment won’t stop at $200 million to prop up 10 full-field Asian Tour events, as was announced in October. Norman and his bottomless well of the Saudi Arabian-backed Public Investment Fund have bigger plans that are anticipated to be unveiled in the near future. The specifics of whatever exclusive world tour, which would enrich any high-profile players who sign on, have not been released, but it would certainly be a rival and disruption to the established order of the PGA and European Tours.
While the rumored and proposed renegade tour concepts have encountered a plethora of worthy skepticism from every corner of the golf world, one notable port seems to be taking it very, very seriously – Ponte Vedra Beach, Florida. With a marquee figurehead like former world No. 1 Norman and an oily checkbook at his disposal, the PGA Tour considers whatever comes of it enough of a threat to wage a series of countermeasures aimed at its top-tier demographic wallets: strategic alliance with the European Tour; a $40 million Player Impact Program; a $20 million Players Championship purse; $35 million cumulative tournament purse increases; $15 million added to overall FedEx Cup payout and $50,000 stipend for anyone who plays a minimum 15 annual tour events.
The PGA Tour is trying to stave off potential attrition with a combination of honey and vinegar (threats of suspension or expulsion for anyone who competes in a start-up league … subject to potential lawsuits). But it’s fair to say that if the PGA Tour isn’t laughing it off, the rest of us shouldn’t either. Because there is a path to success for a new Norman-led tour that doesn’t entail immediate wholesale participation by the top 30 players in the Official World Golf Ranking.
Without any concrete specifics for what Norman means by “only the beginning,” it seems clear this venture can afford to play the long game that might bring the PGA and European tours to heel and give Norman a seat at golf’s global commissioners’ table.
Of course, it’s still only increasingly thickening smoke at this point. The fire sparks if/when a schedule and a list of contracted players gets released. It doesn’t take much imagination to understand there’s at least one golf property owner spurned by the game’s establishment with a cache of courses in the U.S., Ireland, Scotland, Indonesia and Dubai willing to supplement any Saudi Arabian venues.
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