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Tribune News Service
Tribune News Service
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Tyler Cowen

Tyler Cowen: Saudi-backed LIV Golf is nothing to be upset about

Saudi Arabia is using golf to boost its presence on the global stage. Its new sovereign wealth fund-financed LIV Golf tour launched this June, and many people remain unhappy. The criticisms from the worlds of politics and golf suggest the sport will be turned into a vehicle for Saudi political ambitions. And not everyone likes the recipe of faster play and an atmosphere that is party-like rather than stodgy.

In contrast, I think everything will be just fine.

LIV is throwing lots of cash around, and that has stimulated feelings of envy among some players, and fear at the PGA that it might be outcompeted. The new tour would spend at least $2.4 billion over the next four years, a lot of money in the golf world. LIV also is fronting Phil Mickelson — a golf superstar — about $200 million to participate in the tour.

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