After many words and promises, the first flood of petrodollars in golf has arrived. Liv Golf Investments, a company with the Saudi Arabian Public Investment Fund as its majority shareholder, has announced that it has invested 200 million euros in the Asian Tour.
In the world of soccer, the Public Investment Fund, Saudi Arabia’s sovereign investment fund, recently acquired the professional club Newcastle. Specifically, the English team passed from entrepreneur Mike Ashley for about 300 million pounds to a shareholding structure in which the PIF owns 80%. In the past, the PIF has also been approached by Inter.
Man-image (and perhaps machine) of Liv is Greg Norman, appointed CEO of the group. Best player from 1986 to 1997, in the World Golf Hall of Fame since 2001, Norman the white shark has won 91 titles in his career.
Now the Australian is leading what promises to be a green revolution, with a new league aiming to put a spoke in the wheels of the PGA Tour and European Tour. The two powers represent the status quo and are threatening a hard line with any players who decide to deal with Liv and environs.
