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Saturday, March 2, 2024

Asian Tour Gets $300M Investment From LIV Golf

  • The Asian Tour has unveiled The International Series and an increased investment by LIV Golf Investments.
  • LIV has invested a total of $300 million in the professional golf tour.
LIV-Golf-Asian-Tour-Greg-Norman
Asian Tour/Design: Alex Brooks

The Asian Tour has unveiled The International Series’ key dates and prize money and an increased investment by LIV Golf Investments, bringing its total funding in the professional golf tour to $300 million. 

LIV is backed by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund. Last November, the firm named 1995 PGA Tour Player of the Year Greg Norman as its CEO. 

The same month, LIV made an initial investment of $200 million in the Asian Tour  — one of the single largest investments in the history of pro golf — to support events and prize funds.  

  • The International Series will feature 10 events with stops in England, Vietnam, Indonesia, Thailand, Singapore, and Hong Kong.
  • Prize purses for each event will range from $1.5 million to $2 million.
  • The series will be part of the Asian Tour for the next decade, creating a 25-event season. 

The Asian Tour continuing to expand its reach follows a 10-year partnership secured in September 2021 with Golf Saudi to incorporate the Saudi International, which had previously been part of the European Tour. 

Doubling Down on Sports

The PIF, which has $480 billion in assets under management, led a $760 million investment in McLaren last July and acquired Newcastle of the Premier League last October for $409 million.

The fund is also reportedly nearing a purchase of Serie A’s Inter Milan for $1 billion.

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