LIV Golf, the Saudi-backed golf league, continues to face significant financial challenges, with recent reports revealing a staggering loss of $1.1 billion in non-U.S. operations since its inception in 2021.
This includes a $462 million loss in 2024 alone, marking a 16% increase in losses from the previous year.
Despite these mounting losses, the league’s parent company, LIV Golf Investments Ltd., has raised nearly $5 billion through share sales, primarily funded by Saudi Arabia’s Public Investment Fund (PIF).
Financial breakdown: Revenue versus expenses
In 2024, LIV Golf’s non-U.S. operations generated $65 million in revenue, up from $37 million in 2023.
However, expenses soared to $526.7 million, leading to a substantial deficit. These figures exclude the seven U.S.-based events, which are managed by a separate entity, LIV Golf Inc., and are not required to disclose financial data.
The total losses since 2021 encompass $243 million from 2022 and part of 2021, in addition to the losses reported in 2023 and 2024.
Saudi Arabia’s commitment to LIV Golf
Despite the league’s financial difficulties, PIF has demonstrated a strong commitment to LIV Golf.
The fund has provided a letter of financial support to the UK entity, ensuring that the company has access to sufficient resources to meet its liabilities.
This backing underscores Saudi Arabia’s strategic interest in expanding its influence in the global sports arena.
And LIV Golf‘s rapid expansion has not been without controversy. The league’s approach to attracting top players with lucrative contracts has drawn criticism, and its relationship with established golf institutions has been contentious.
Legal disputes, including a lawsuit against the PGA Tour, have further complicated its operations.
Can LIV Golf rebound?
As LIV Golf enters its fifth season, the question remains: can the league turn its financial situation around? The continued support from PIF provides a financial cushion, but the league will need to demonstrate sustainable growth and profitability to secure its future.
With plans to expand its event schedule and enhance its global presence, LIV Golf is positioning itself as a formidable force in the world of professional golf.
LIV Golf’s journey has been marked by bold ambitions and significant financial investments.
While the league faces substantial losses, the backing of Saudi Arabia’s PIF offers a lifeline.
The coming years will be crucial in determining whether LIV Golf can achieve the financial stability and success it seeks.
Player earnings and prize money
Despite the league’s financial difficulties, LIV Golf has continued to offer substantial prize money to its players.
In 2024, the league distributed nearly $1.4 billion in prize money, with individual players earning significant sums. Jon Rahm, for instance, earned a total of $34.7 million in prize money and bonuses during the 2024 season, making him the highest-earning player that year.
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