Records show that the fledging LIV Golf tour is not on track to receive profits.
Key Details
- A study by McKinsey & Co. consulting group shows that success for the LIV Golf tour is not within reach.
- The research suggests that in order to be successful, LIV would have to do three things: sign each of the world’s top 12 golfers, get sponsors, and obtain television deals, reports The New York Times, who gained access to the documents.
- The Saudi-backed tour is far off from achieving any of the listed goals showing that it could be a while before the controversial team finds success.
Why it’s news
LIV Golf has been making headlines for months as it poached many top players from the well-established PGA Tour with promises of big checks.
The league has faced many problems as it had trouble securing sponsorships and TV time as well as battling the PGA in court.
Recently discovered documents were obtained that were about the LIV and revealed the three things the league outlined it needed to be successful including signing each of the world’s top 12 golfers, getting sponsors, and obtaining television deals many of which it fell short of.
Of the 12 golfers, the league noted as needing to obtain only one has joined the tour—Phil Mickelson. Mickelson was offered at least $200 million to leave the PGA and join the fledgling tour.
Tiger Woods was another the league had its eye on as he is one of the most popular players that brings many fans to golf. Woods has voiced his disdain for the players who left the PGA and says that he will not turn his back on the PGA Tour.
The other two goals were to get sponsorships and obtain television deals. The controversial league has struggled with both of these goals as many do not want to put money into a Saudi-backed league that is competing with the PGA.
The LIV tour is mainly broadcasted on YouTube and not many fans have been attending the games as many fans opt to attend PGA tournaments instead. LIV is paying large amounts to get players and host games in turn losing money.
Until LIV can reach its goals and bring more fans to its tournaments the league will continue to lose money and fall short of the PGA.
