LIV Golf Has Failed to Hit Lofty Targets Based on 2021 Consultant’s Report

According to a New York Times report, a consultant found that the entity that became LIV Golf would need to do the following upon starting up:

• Attract each of the world’s top-12 golfers
• Attract sponsors
• Land television deals
• Avoid retaliation from the PGA Tour

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Of these goals, LIV Golf has signed four of the top 12 golfers that were identified by consultant McKinsey & Company (Sergio Garcia, Henrik Stenson, Phil Mickelson, and Dustin Johnson). Eight others—including Tiger Woods and Rory McIlroy—were not signed, the group does not have any major sponsors of note, has not announced a television deal for the United States, and has drawn the ire of the PGA Tour with lawsuits being filed on both sides and golfers who jumped to LIV being banned by the PGA Tour.

Perhaps most alarming is the projected finances.

The consultants listed a best-case scenario of $1.4 billion in revenue by 2028 with about $350 million in profit. Their worst-case scenario, which is so far panning out with a lack of revenue streams and failing to sign at least half of the 12 targeted golfers, would put the league at a $355 million loss in 2028.

“Our goal has always been to be as cooperative as possible!!!!!!!” said the organizers of ‘Project Wedge.’https://t.co/fHAc3BftKf

— D.J. Piehowski (@DJPie) December 11, 2022

LIV’s financial backers have said they plan to fund the league through 2025 before beginning to divest itself through what they hope will be profitable team franchises by then. In the meantime, LIV will award over $400 million in prize money in 14 tournaments in 2023.

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The likely success or failure of the league will seemingly come from a TV rights deal. The events were broadcast for free on YouTube in 2022. There has been talk of LIV buying time on cable channel FS1, but no official announcement has been made.

Cover Image Via Twitter