The LIV Golf League is launching in 2023, when it will add six more tournaments to its schedule for an additional $150 million in prize money.

The Saudi-backed golf league announced the 14-tournament league will have a total of $405 million in purses — up from the $255 million offered during this year’s eight-tournament LIV Golf Invitational Series.

With 48 players on 12 team franchises, team captains will be able to make franchise decisions based on sponsor interest and fan following.

Dates and locations haven’t been announced, but the league stated that it is “expected to expand LIV Golf’s global footprint across North and Latin Americas, Asia, Australia, the Middle East, and Europe.” 

• The 2022 Invitational calendar includes five U.S. tournaments and one each in London, Bangkok, and Jeddah.
• LIV Golf claims that the events won’t conflict with the four majors, international team events, or heritage tournaments.

LIV Golf raised $2 billion from Saudi Arabia’s Public Investment Fund earlier this year and has recruited a number of PGA Tour members.

International Series

LIV Golf announced it will also host more international series tournaments, competing in Thailand, England, Korea, Vietnam, the Middle East, Indonesia, China, Singapore, Hong Kong, and new European and U.S. locations. LIV Golf League players are expected to participate. 

The series, which claims it ensures “pathways for amateurs and the next generation of leading players,” launched this year after LIV and the PIF committed $300 million to the Asian Tour.

In 2023, LIV Golf states it will host a total of 25 tournaments.

Formula 1’s inaugural Miami Grand Prix made a huge impact — and now the economic effect has been quantified.

The May race brought in nearly $350 million of economic activity to the surrounding area, according to a report by Applied Analysis.

• Tourists spent $150 million during the race week, with an average of $1,940 per person — almost twice that of the typical tourist to the area.
• Visitors to the Miami International Autodrome site totaled 243,000 over the race weekend.
• 3,000 local workers were paid over $100 million in the leadup to and during the race. Around half of that payout came during the construction phase of the project, which included laying a track composed of 24,000 tons of asphalt.

Eyes on the Prize

F1 enjoyed impressive viewership numbers throughout the weekend, with 23 million people tuning in — 27% above Austin’s 2021 Grand Prix. There were 140 million views between F1’s website and app.

The racing series is reshuffling its calendar next year, with Las Vegas joining Austin and Miami. Many in and around F1 have mentioned that an American team and driver could spark U.S. interest even more.

A Harris Poll from May backs that up, with 35% of American F1 fans and 16% of U.S. adults saying they would be more interested in the racing series if there were more American drivers.

The Tennessee Titans are close to finalizing a deal for a new domed stadium, but final approval requires the expedition of a $200,000 report over the team’s current lease at Nissan Stadium.

The report, which is a “condition assessment,” was commissioned by Nashville’s Metro Council in June after the Titans claimed that upgrading Nissan Stadium would cost roughly $1.8 billion. 

The expensive upgrades were a stark increase from the $293.2 million management consulting company Venue Solutions Group said was needed to keep Nissan Stadium viable through 2037.

Even though a new stadium for the Titans could “deliver the best value,” according to several state leaders, a member of the Metro Council believes the project should be reevaluated. 

• The Titans — valued at $2.62 billion — have planned a 1.7 million-square-foot stadium.
• Estimated costs range between $1.9 billion and $2.2 billion.
• A completed “condition assessment” is expected in November. 

The Titans’ current lease at Nissan Stadium runs through 2039 and requires the city of Nashville and taxpayers to pay for maintenance. Nashville would be obligated to pay roughly $894 million for upgrades between 2026 and 2039, while a new stadium is set to open in 2026. 

Increased Value

The Titans could be worth more than $3 billion if a deal for a new stadium is finalized. The team would benefit from both a new stadium that could garner higher ticket prices and the increasing value of NFL franchises following the record sale of the Denver Broncos in June for $4.65 billion.