Mega-money contracts, lucrative prize pots and no-cut, 54-hole tournaments. Despite initial doubts, LIV Golf has battled its way to the top of the professional game in a little under two years of existence.
The breakaway league bankrolled by the Public Investment Fund of Saudi Arabia (PIF) has been able to lure in some of the biggest names in golf thanks to the remarkable amounts of money on offer. The likes of Phil Mickelson, Dustin Johnson and Brooks Koepka have all made the move.
As well as their former PGA Tour loyalties, one other thing the American trio have in common is receiving an eye-watering nine-figure contracts to make the move to LIV back in 2022.
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Most recently though the signing of Jon Rahm broke all of the Saudi-backed league's records, with the former Masters champion's services coming at a heavy price. After making the Saudi switch last December, it was reported that Rahm signed a deal worth £450 million to leave the PGA Tour.
And this is all before a ball had even been hit. LIV now hosts 14 events across its season, 13 regular events followed by the Team Championship at the end of the campaign. At each regular-season tournament, a £20 million prize pot is on offer, with £16 million split across the individual standings, and £4 million across the top-three teams.
What is even more of a bonus for the 54 players competing is that they are guaranteed a payout at each event, with LIV tournaments held with no cut line. The season-ending Team Championship then gives those in action the chance to earn an added bonus, with a whopping £40 million on offer across the final event of the year.
LIV Golf is battling it out with the PGA Tour (Getty Images)With so much going out, a question often raised is just how do LIV bring a similar figure back in. According to a report from Golf.com the breakaway league's revenue for 2023 was just under the £81 million-mark. With the league still a fairly new entity, it has failed to make substantial revenue from fan attendance at its events.
The league does have a TV deal with The CW Network in the United States, however unlike the majority of TV-sport agreements, CW do not pay LIV for media rights, instead splitting the revenue made, which according to reports was said to below the £2.4 million mark.
As with any start-up though LIV has began to grow commercially in recent months, having added a number of sponsorship partners. The league announced its first corporate sponsor ahead of the 2023 campaign last February, striking a deal with shipping logistics company EasyPost.
As well as this, the league have announced partnerships with British silverware company Asprey as the official trophy provider of the tour, whilst teaming up with Corpay as the league's official corporate FX provider. One of their latest dealings came with building and construction company JCB, who have become the official partner of LIV's UK event.
Previously named the LIV Golf Invitational London and LIV Golf London, the tournament has no moved to the JCB Country Club in Rocester, with the agreement seeing the event renamed LIV Golf UK by JCB. There is also financial gain to be had through LIV's team franchises too.
Each team sells their own personal merchandise at each event as well as on the LIV Golf website, and has forged partnerships of their own too. Ian Poulter, Lee Westwood and Henrik Stenson's Majesticks were the first to make the commercial move, initially agreeing a deal with global cryptocurrency company OKX, before adding three more partners to their franchise.
Franchise clothing partnerships have also become common on the breakaway circuit too. Most recently golf clothing brand Stuburt was announced as an apparel provider for three LIV teams, joining forces with Sergio Garcia's Fireballs, Joaquin Niemann's Torque and Bryson DeChambeau's Crushers.
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