LIV Golf Investments announced another $100 million investment into the Asian Tour as well as the first few events of its newly launched International Series, beginning in March.
“This is just the start for us,” said Greg Norman CEO of LIV Golf Investments. “The 10-event series we’ll be starting off is just the beginning. It’s the beginning of an exciting new journey.”
The International Series will debut in Thailand at Black Mountain Golf Club from March 3-6 and include stops in England, Korea, Vietnam, the Middle East, China, Singapore, and Hong Kong and will feature prize purses ranging from $1.5 to $2 million per event.
The announcement of a tournament staged in London at Centurion Club from June 9-12 and offering a $2 million purse marks the Asian Tour’s first foray into Europe and will be played not far the headquarters of the DP World Tour. Asian Tour CEO Cho Minh Thant downplayed the move as a formal attack on its former partner.
“If you look at the way the other tours are operating, as well, there’s instances where the PGA Tour plays in Asia. There’s instances where the DP World Tour is trying to or playing in Asia as well,” he said. “Obviously, there’s no boundaries anymore in the world of golf.”
“The International Series is not going to be geo-fenced,” Norman added. “Just because the International Series is associated with the Asian Tour, we want to get the message out there that it’s just not specifically for the Asian region, and that’s critically important for everybody to understand. Healthy competition and respectful competition should be spread globally.”
The second half of the year will see stops in Korea, Vietnam, and Indonesia before heading to the Middle East and then culminating in China, Singapore, and Hong Kong. Due to COVID-19 restrictions still in place in those countries, dates and sites for these events will be announced at a later time.
LIV Golf Investments also bumped its commitment to invest in the Asian Tour from $200 million to $300 million.
“In a nutshell, what have we really done? We’ve identified a new opportunity out of a lost opportunity,” said Norman, who called the Asian Tour a “sleeping giant.” “It’s because we believe in the players. We believe in the partners that we’re associated with, the Asian Tour. We believe in the future of where the game of golf can go.”
Each of the 10 events will be broadcast live across the globe, with plans to attract an international field of headline talent.
In October, Norman was announced as CEO of LIV Golf Investments. PIF, which operates on behalf of the government of Saudi Arabia and ranks as one of the world’s largest sovereign wealth funds, is the majority shareholder in LIV Golf Investments.
The announcement comes on the eve of the Asian Tour’s new season with the $5 million PIF Saudi International starting this Thursday at Royal Greens Golf & Country Club. The field is comprised of six of the top 20 players in the world competing – including Americans Dustin Johnson, the 2019 and 2021 champion, and Bryson Dechambeau – as well as over 50 of the Asian Tour’s most prominent players and represents the strongest field in the history of the Asian Tour. The tournament, which is not part of the International Series, also offers one of the Asian Tour’s most lucrative purses.
