LIV Golf is only getting started in disrupting professional golf.
The invitational series, which has worked to lure top PGA Tour golfers, announced a $2 billion investment from Saudi Arabia’s Public Investment Fund that “will be used to fund ongoing expansion and prize purses for the new LIV Golf schedule,” the company wrote, announcing the move.
The series will offer $255 million in prize purses across 10 tournaments in 2022, which will combine individual and team formats.
LIV also announced an expanded schedule, with 10 tournaments next year and 14 in both 2024 and 2025.
“We have a long-term vision, and we’re here to stay,” said Greg Norman, LIV Golf CEO and commissioner. “We’re going to grow the game, give more opportunities to players, and create a more entertaining product for fans.”
The inaugural tournament in London, June 9-11, will reportedly feature 19 of the world’s top 100 players and six of the top 50.
The PGA Tour has denied all waivers from players asking to join the tournament, forcing them to potentially face consequences that could be as severe as a lifetime ban for joining the breakaway tour.
“The Tour’s action is anti-golfer, anti-fan, and anti-competitive,” Norman said in a statement. “But no matter what obstacles the PGA Tour puts in our way, we will not be stopped. We will continue to give players options that promote the great game of golf globally.”
