The LIV Golf Conundrum: Moving Forward With ‘Framework Agreement’ in Jeopardy

When the now-famous “framework agreement” among the PGA Tour, DP World Tour, and Saudi Arabia’s Public Investment Fund (PIF) was announced in June, one of the first questions revolves around the future of LIV Golf.

As the money behind LIV, if the PIF was going to now partner with the PGA Tour, it was assumed that it would be under one umbrella. 

The disappearance of LIV Golf CEO Greg Norman seemed to indirectly confirm that. Norman went from the very public face of LIV to persona non grata from June 6 until last week, when the Shark resurfaced at Doral for the league’s final event of 2023.

While there, Norman said it was business as usual for him. He was preparing the golfers and courses for the 2024 schedule and wasn’t concerned about his future. Phil Mickelson was talking about big names who he said want to hop on board. 

According to a report in The Athletic that seemingly serves as the state of LIV Golf, the league is moving forward as if it will still be a separate entity. 

This lends credence to reports that the deal with the PGA Tour, DPWT, and PIF may not happen by the Dec. 31 deadline or not even at all. 

After the PGA Tour’s formal agreement to partner with the $700B Saudi Arabian Public Investment Fund, voices were quick to promote the demise of LIV Golf, the tour’s rival.

Almost five months later, the framework agreement is dead, dying, or, at best, needing to be extended ⤵️

— The Athletic (@TheAthletic) October 25, 2023

The PGA Tour wrote a memo to its players that said it would look for alternate partners if a deal can’t be reached with the deep pockets of the PIF. The Athletic article said one potential partner could be Endeavor, the sports agency which currently owns UFC and recently acquired the WWE for billions in stock. 

The report stated that LIV is planning to hire C-level employees instead of outsourcing many of those positions, and multi year agreements with golf courses are being drawn up. 

On the other hand, the league still continues to struggle to gain traction two years into the venture.

From @TheAthletic: Despite a billion-dollar investment from Saudi Arabia, LIV Golf has yet to create games that people care about. As one longtime observer put it: “More people are paid to be here, than pay to be here.” https://t.co/WmgiNjTZHJ pic.twitter.com/N1qTJSLdSQ

— The New York Times (@nytimes) October 25, 2023

The Athletic article reports that crowds were sparse enough at times that the action at Doral could have been mistaken for a practice round. TV ratings on the CW, which is not paying LIV for the rights to broadcast events, were in the 150,000-viewer range this past weekend. The Sunday broadcast ranked last among all live sports programming on television. 

Before the framework agreement, the PIF had hinted at funding LIV for two more years. If the cash flow isn’t there, the future of the league will always be in question, no matter who owns it.

Cover Image via Daily Sabah