LIV Golf’s revenue from its first season was ‘virtually ZERO’
LIV Golf’s revenue from its first season was ‘virtually ZERO’ after the Saudi PIF ‘spent $784m to bankroll the series’… as the circuit’s lawyers allege the PGA Tour has ‘damaged LIV’s brand’
Despite making waves during its debut campaign LIV Golf made ‘virtually zero’ in revenue according to its attorneys.
LIV Golf, which is being financed by Saudia Arabia’s Public Investment Fund, asked U.S. District Court Judge Beth Labson Freeman to deny the PGA Tour’s motion for leave to add the Public Investment Fund and its governor, Yasir Al-Rumayyan, as plaintiffs in the tour’s countersuit against LIV Golf.
The PGA Tour alleges LIV Golf interfered with its contract with players.
The Saudi-backed circuit allegedly made ‘virtually zero’ revenue according to its attorneys
The Tour want the Saudi PIF and its governor added as plaintiffs to a countersuit against LIV
During the motion, the Saudi-backed circuit’s attorneys shed light on the alleged minimal revenue earned in the first season.
‘The Tour’s motion to amend should be denied because the amendment would be futile, would cause unfair prejudice, was unduly delayed, and is obviously intended to inappropriately delay the case and resolution of Plaintiffs’ antitrust claims,’ they wrote Monday.
‘Delay will equally harm LIV because the Tour continues its anticompetitive conduct while the litigation is pending.
‘The Tour has damaged LIV’s brand, driven up its costs by hundreds of millions of dollars, and driven down revenues to virtually zero.’
Former president Atul Khosla told the outlet las year the PIF had spent approximately $784m to ‘bankroll’ the initial season on ’employee salaries, production and the build-out at tournaments’, though it did not include player salaries according to ex-COO.
On Monday, the Tour’s attorneys requested a conference hearing with Freeman to discuss whether the January 2024 trial date, along with discovery deadlines, should be delayed because the Public Investment Fund has allegedly failed to comply with discovery and depositions.
The sides’ arguments will be heard by Freeman in a Feb. 24 case management conference.
LIV Golf’s second season, which includes 14 tournaments, is slated to open Feb. 24-26 at El Camaleon Golf Course in Mayakoba, Mexico.
It follows further legal battles, including a long-trailed arbitration hearing that will effectively determine if LIV players can continue to moonlight on the DP World Tour.
LIV Golf CEO Greg Norman has remained a popular figure on the circuit across the first season