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Troubling LIV Golf Financial Report Revealed

February 19, 2025
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Last week LIV Golf’s UK arm filed its 2023 financials and its already massive losses have reached new heights.

LIV’s Money Pit Grows Even Deeper

‘Staggering’ Losses

A report by Money In Sport examined the financial filings of LIV Golf’s UK arm. This entity manages all of LIV’s operations outside the U.S.

They have reported significant financial developments for 2023. While revenues increased to $37.1 million from $4.9 million in 2022, operating losses also rose sharply to $394 million, up from $244 million the previous year.

The Saudi Public Investment Fund, which is backing LIV Golf, has already invested almost four billion dollars in the league. That number is expected to reach the five billion mark by the end of 2025.

For almost any other company around the world, numbers like the ones LIV is producing would become a one-way ticket to bankruptcy. But for someone with the capital like the Saudi PIF, this probably feels like when an average Joe loses a couple of quarters in the couch cushions. In other words, they can afford to keep throwing money at the wall until it sticks.

Breakdown of the Spend

In 2022, LIV hosted just six tournaments. That number jumped to 14 for the 2023 season. Even though the per-tournament cost went down, the entire cost jumped more than $40 million. LIV spent $10 million paying Performance54, the organization that stages all of LIV’s tournaments,

LIV Golf UK incurred nearly $16 million in legal and professional expenses. These costs were almost on par with the PGA Tour’s legal fees, which amounted to $18.7 million.

Over the past few years, LIV Golf has spent an estimated $1.5 billion on player costs, including signing bonuses, guaranteed contracts, and other payments. These figures show the massive financial commitment LIV has made to building its roster of players.

Many of these players who LIV splashed out on simply haven’t made the return on investment that LIV had hoped for. Players like Dustin Johnson and Phil Michelson are two players that LIV spent over $300 million on signing bonuses alone. They’ve drawn nowhere near the eyeballs necessary to justify their payday.

In addition to individual compensation, LIV Golf has also set up a team-based competition with its events, where players can earn money as part of teams. This additional layer of payments increases the total cost of supporting the players.

Where LIV Can Stop The Bleeding

Even with a mind-boggling amount of money spent since its inception, the lack of investment compared to operational costs hasn’t really come as a surprise to many. LIV is still so young and basically a brand-new company. In a battle against the monopoly in their sport for decades, LIV knew they would lose quite a lot before they’d see a win on the board. But the creativity and initiative they’ve already shown in the game give them hope in separating themselves from the PGA Tour and providing an experience that they simply can’t offer.

LIV’s team format, where players compete in groups and teams, adds a fresh and exciting element to the game of golf. This format has proven to be appealing for both fans and sponsors, and the uniqueness of the league’s structure helps it stand out from traditional tours.

Becoming a more global brand has been a significant goal LIV has been working hard to attain. Australia is actually where LIV found its most success with LIV Adelaide providing 45% of its total revenue from these tournaments.

LIV Golf and social media has been a topic of focus as well. With more and more players featuring on different YouTube and TikTok channels, that’s an easy way for LIV to gain more attention. Players like Bryson DeChambeu who have become massive in the YouTube golf world will only make fans want to watch them more during LIV events.

While LIV Golf’s revenue streams are still maturing, broadcasting rights, sponsorships, prize money, and a growing fanbase are key to the future financial health of the league. The league’s ability to attract big-name players, secure lucrative sponsorships, and expand globally will ultimately determine whether it becomes profitable in the long run.

Main photo credit

© Raymond Carlin III-Imagn Images



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Tags: Bryson DeChambeauDustin JohnsonFinancialGolfLIVPhil MickelsonReportRevealedtroubling
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