The investment of Saudi Arabia Public Investment Fund in LIV golf could approach $ 5 billion by the end of this year on the basis of Financials reported by the British Arm of Liv Golf (and excluding its activities American). Liv Golf finances were placed under a microscope by Money in sportA newsletter that follows the money published on substitution. Liv Golf’s UK Arm, which manages all Liv operations outside the United States, has deposited its 2023 finances this week. Among the notable figures: revenues won $ 4.9 million in 2023 to $ 37.1 million, Australia offering 45% of the annual total ($ 16.6 million) on the basis of the Liv Adéla Tournament . Tournament accommodation fees represented 37% of income, the largest category of income. Dissemination rights income was $ 3 million (8% of total income).
The side of the expenses of the big book is not pretty. A positive: the cost per tournament, which reached nearly $ 10 million in 2022, fell to $ 7.3 million in 2023 while the Liv went from six events to 14. The largest article is legal expenses and professional. In 2023, Liv UK’s legal costs of $ 15.7 million was almost as high as PGA Tour’s legal expenses ($ 18.7 million). “It is reasonable to conclude that the total legal costs of LIV are much higher than the costs incurred by PGA Tour,” wrote Money in Sport. The “compensation” of LIV players most likely relate to the penalties imposed by the DP World Tour on members and former members who play on the LIV tour and continue to play occasional events on the European tour. These expenses of $ 6.9 million in 2022 would have been paid in 2023, “which was to be well-being in the books of the European tour that year”. Operating losses increased from $ 244 million to $ 394 million. Overall, the losses suffered by LIV “accumulate at an amazing pace, requiring regular injections of new capital by the Saudi Pif”. How much? Total capital injected with Liv Golf UK exceeded $ 1.0 billion after a recent New Capital issue in December 2024. “The level of new shares in 2024 of more than $ 400 million does not involve any improvement of the financial performance of the liv in 2024 (ex-USA) which won it will not be deposited for another 12 months, “wrote Money in Sport. Sports money concluded:” We know that the statutory reports Jersey portfolio companies that total capital approved by PIF are now 3.9 billion dollars, of which $ 1.0 billion concern Liv Golf UK and the balance at Liv Golf Inc. in the United States, obviously, American finances must be considerably worse than the rest of the global performance reported by Liv Golf in the United Kingdom. Invoices on the horizon if they want to keep the best golfers as their contracts expire. »»
