Who Owns LIV Golf?

Who exactly is financing the controversial, new LIV Golf league that’s poaching top PGA Tour talent with record purses and sparking turmoil across professional golf?

LIV Golf is controlled and approxmiately 80% owned by Saudi Arabia’s sovereign wealth fund known as the Public Investment Fund (PIF) as the kingdom pursues sports washing its image, with legend Greg Norman installed as CEO to lead the fledgling circuit.

Let’s dive in and unpack who all comprises LIV Golf’s ownership and influx of billions in investment capital fueling its swift rise.

LIV Golf Founded By Greg Norman And Saudi Arabia’s Public Investment Fund

An evocative image depicting the birth of LIV Golf: Greg Norman, clad in golf attire, shakes hands with a representative of Saudi Arabia's Public Investment Fund against a backdrop blending golf courses with elements of Saudi Arabian culture. The $2 billion investment surges through the image, symbolizing the disruptive force that aims to rival the PGA Tour. Crown Prince Mohammed bin Salman's Vision 2030 plan looms in the background, shaping the destiny of LIV Golf. The collision of tradition and innovation unfolds as Norman takes the helm as CEO, steering the league into uncharted territory

LIV Golf is a new, controversial golf league that debuted in 2022. It was founded by legendary professional golfer Greg Norman and financed by Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund (PIF).

The motivation behind the PIF investing $2 billion into launching LIV Golf was to rival the PGA Tour and disrupt the world of professional golf.

Crown Prince Mohammed bin Salman oversees the PIF as part of his Vision 2030 plan to diversify Saudi Arabia’s oil-dependent economy.

Greg Norman is LIV Golf’s chief executive officer and commissioner. His role was to recruit elite players, negotiate media rights deals, and handle day-to-day operations of the breakaway league.

Meanwhile, the injection of billions of dollars from Saudi Arabia’s PIF allowed LIV Golf to offer unprecedented purses and financial incentives to attract top talent.

Majority Owned By Saudi Arabia’s Public Investment Fund

The Public Investment Fund owns approximately 80% of LIV Golf. As the sovereign wealth fund of Saudi Arabia, the PIF manages over $600 billion in assets and investments on behalf of the Saudi government.

The launch of the LIV Golf league is seen as a high-profile component of Saudi Arabia’s recent sports washing efforts to use professional sports to improve their international reputation.

LIV Golf represents a long-term investment for Saudi Arabia as part of Crown Prince Mohammed bin Salman’s Vision 2030 initiatives. Involvement in premier professional golf is aimed at showcasing Saudi Arabia as more than just an oil economy.

Significant criticism remains around using LIV Golf to sport wash the Saudi regime’s controversial human rights record.

But by tapping into professional golf fans and audiences, the Public Investment Fund sees a major opportunity to boost interest in visiting and investing in Saudi Arabia.

Yasir Al-Rumayyan, governor of the PIF, serves as chairman of LIV Golf Investments. This affirms how integral the Public Investment Fund views launching this rival golf league.

Between Greg Norman’s operations and Saudi ownership, LIV Golf has disrupted golf’s status quo.

Additional Owners And Investors

While Saudi Arabia’s Public Investment Fund is the dominant owner, LIV Golf Investments does have additional minor owners and investors. This includes members of various royal families from Saudi Arabia, Abu Dhabi, and Dubai that have ownership stakes.

Having involvement from other Gulf monarchies helps lend regional support and resources for LIV Golf to tap into.

Aside from Greg Norman receiving equity in LIV Golf as CEO and commissioner, other former golf stars also have secured small ownership shares.

Players like major winner Charl Schwartzel, 2010 Open Championship winner Louis Oosthuizen, and former Ryder Cup captain Graeme McDowell have ownership stakes as part of joining LIV Golf.

Top players were given lucrative upfront payments and equity incentive to lend credibility.

Discussion and rumors continue around other public companies and entities mulling significant investment into LIV Golf now that its inaugural season has finished.

For example, the CW Network was reportedly weighing whether to purchase a 15% ownership share in LIV Golf for several hundred million dollars. Having an established broadcast and media company invest would bring additional legitimacy and exposure.

The ability for LIV Golf to raise over $2 billion in initial funding demonstrates the commitment behind it. Despite facing backlash and criticism, investors ranging from the Saudi PIF to veteran golfers see the long-term upside in taking on the PGA Tour.

How LIV Golf’s ownership and investment lineup develops in its second season will be an intriguing storyline.

LIV Golf Founded By Greg Norman And Saudi Arabia’s Public Investment Fund

An evocative image unfolds, capturing the inception of LIV Golf: Greg Norman, clad in golf attire, stands alongside Saudi Arabia's Crown Prince Mohammed bin Salman, symbolic of the $2 billion investment that fueled the ambitious venture. The golf course backdrop transforms into a canvas of controversy, with subtle hints of skepticism and criticism lurking in the shadows. Norman, as LIV Golf's chief executive, navigates through golf symbols intertwined with Saudi influences, signifying the clash of tradition and the emerging golf landscape. The dual narrative of sport washing and revolutionizing professional golf echoes in the visual storytelling, inviting viewers to ponder the complexities surrounding LIV Golf's genesis

In early 2022, legendary professional golfer Greg Norman joined forces with Saudi Arabia’s Public Investment Fund to launch a brand new golf circuit named LIV Golf.

Crown Prince Mohammed bin Salman’s sovereign wealth fund invested $2 billion into the risky startup rival golf league as part of Saudi Arabia’s ambitions to expand influence through sports washing.

Greg Norman was tapped given his credentials and clout within professional golf to serve as LIV Golf’s chief executive and commissioner.

His primary responsibilities involved recruiting elite players, negotiating substantial media rights deals, and handling day-to-day operations for tournaments worldwide.

With a $2 billion budget thanks to Saudi state backing, LIV Golf had the capital to offer unprecedented financial incentives and record prize purses to attempt luring away top PGA Tour talent.

Greg Norman’s controversial alignment with the Saudi Arabians immediately brought skepticism and criticism when formally announcing LIV Golf in early 2022.

Perceptions included that he was enabling Saudi sport washing attempts to improve their global reputation despite human rights violations.

Additionally, the massive investment from Saudi Arabia’s sovereign Public Investment Fund hinted that LIV Golf was more about indirectly promoting Saudi economic interests than solely fixing perceived problems for professional golfers.

However, Norman and LIV Golf’s backers maintained their circuit centered around fairly compensating players, revolutionizing fan experiences, and invigorating professional golf.

Majority Owned By Saudi Arabia’s Public Investment Fund

A compelling visual representation unfolds, symbolizing the nexus of LIV Golf and Saudi Arabia's Public Investment Fund. Yasir Al-Rumayyan, governor of the PIF, stands at the forefront, representing the approximately 80% ownership that dominates the golf landscape. Golf icons intertwine with the Saudi Arabian royal crest, highlighting the collaboration between the PIF and various royal families. The $2 billion investment echoes through the image, signifying the commitment to Crown Prince MBS's Vision 2030. A transition unfolds, depicting Saudi Arabia's shift from an oil-dependent economy to diverse industries like tourism, infrastructure, and entertainment. LIV Golf emerges as a strategic piece in this economic diversification puzzle, simultaneously sport washing human rights concerns and showcasing Saudi progress on the global stage

In examining LIV Golf’s underlying ownership and financing, Saudi Arabia’s Public Investment Fund controls approximately 80% ownership in the breakaway league.

The PIF functions as the sovereign wealth fund for Saudi Arabia, created to prudently invest the country’s capital to generate substantial long-term returns. It commands assets over $600 billion under its stewardship on behalf of Crown Prince Mohammed bin Salman.

Yasir Al-Rumayyan, governor of the PIF, directly serves as chairman of LIV Golf Investments to represent Saudi control. Additionally, members of various Saudi royal families possess minority shares in LIV Golf as well.

The Public Investment Fund’s strategy is to deploy chunks of its war chest reserves into Saudi Crown Prince MBS’s Vision 2030 plan.

This attempts transitioning Saudi Arabia’s oil-dependent economy toward more diverse industries like tourism, infrastructure, and entertainment. LIV Golf perfectly aligns with increasing Saudi influence in global sports to paint perceptions of reform.

While simultaneously sport washing its widely-criticized human rights record, involvement in premier professional golf also showcases Saudi Arabia as more progressive and economically open.

Overall, the PIF’s approxmiately $2 billion spearheading LIV Golf represents a long-term investment to boost interest and opportunities connected to Saudi Arabia for fans and businesses alike.

Additional Owners And Investors

A visually dynamic scene unfolds, illustrating the intricate tapestry of LIV Golf's ownership. The central figure is Yasir Al-Rumayyan, representing Saudi Arabia's PIF with its commanding 80% ownership. Alongside him stand Sheikh Mansour bin Zayed Al Nahyan and Sheikh Hamdan bin Mohammed Al Maktoum, emblematic of UAE's royal support. The golf course transforms into a mosaic of player icons like Dustin Johnson and Graeme McDowell, signifying their equity ownership. Greg Norman, the frontman, occupies a pivotal role, embodying the fusion of legend and leadership. Discussions with media companies, like the CW Network, are hinted at, their logos symbolizing potential future partnerships. The image echoes the disruptive spirit of LIV Golf, signaling the financial runway for expansion, while simultaneously embracing a diverse array of investors and collaborators

Although Saudi state funding fuels LIV Golf, its ownership roster contains additional investors as well.

Joining the PIF and Saudi royal families with equity are members of the United Arab Emirates’ monarchy too.

For example, Sheikh Mansour bin Zayed Al Nahyan from Abu Dhabi and Sheikh Hamdan bin Mohammed Al Maktoum from Dubai possess minority LIV Golf ownership stakes. Support from fellow heavyweight Gulf monarchies provides further regional credibility and resources.

Other investors include earlier mentioned LIV Golf frontman Greg Norman along with a dozen or so golf professionals themselves. Reportedly over $400 million was allocated toward signing bonuses, incentives, and offering equity shares to top players agreeing to join LIV Golf.

The idea was leveraging their personal brands and reputations to increase legitimacy for the upstart circuit.

Names like 2020 Masters winner Dustin Johnson, Sergio Garcia, Graeme McDowell, Charles Schwartzel, Kevin Na, Talor Gooch, and more all accepted lucrative deals featuring equity ownership.

Discussions with media companies and broadcasters have also surfaced regarding them purchasing ownership shares in exchange for lucrative partnerships.

For example, LIV Golf was apparently in talks with the CW Network about them acquiring a 15% ownership stake valued around several hundred million dollars. But talks seemed to have stalled for the time being.

However, future investments might come from entities eyeing the broadcasting and distribution side now that LIV Golf’s product has manifested through its inaugural season.

The ability to launch a rival sports league to the tune of $2 billion indicates deep pockets and committed investors seeing major upside in LIV Golf, despite substantial criticism.

With Greg Norman as CEO and the Saudi PIF owning approxmiately 80% of the league, additional high-profile investors might be on the horizon.

LIV Golf’s disruptive nature could warrant further media companies, brands, or venture capital making equity investments to fuel expansion plans. Ownership even from controversial backers signals LIV Golf has financial runway to compete with the PGA Tour.

Conclusion

In conclusion, LIV Golf is majority owned by Saudi Arabia’s sovereign wealth Public Investment Fund as part of a sports washing campaign aimed at boosting the kingdom’s reputation.

With legend Greg Norman as CEO and billions in state backing, LIV Golf has disrupted golf, albeit with continued criticism about enabling Saudi human rights issues.

Time will tell if additional high-profile investors beyond royals and players emerge while global expansion plans advance.