"It'll be done": former PGA Tour winner sounds alarm over LIV Golf's future
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Bildnummer: 03701547 Datum: 24.05.2008 Copyright: imago/Icon SMI Silhouette von Robert Karlsson (Schweden) - PUBLICATIONxINxGERxSUIxAUTxHUNxRUSxSWExNORxONLY (Icon36963444); Vdig, quer, close, Gegenlicht, Golfspieler, Spieler, Golfer, Symbol BMW PGA Championship 2008, European Tour Virginia Water Golf Herren Einzel Einzelbild Aktion Personen Symbolfoto Image number 03701547 date 24 05 2008 Copyright imago Icon Smi Silhouette from Robert Karlsson Sweden PUBLICATIONxINxGERxSUIxAUTxHUNxRUSxSWExNORxONLY Icon36963444 Vdig horizontal Close Gegenlicht Golfer Players Golfers symbol BMW PGA Championship 2008 European Tour Virginia Water Golf men Singles Single Action shot People Symbolic image
The future of LIV Golf remains uncertain. While LIV CEO Scott O’ Neil has been positive about it, former PGA Tour winner Johnson Wagner does not envision the league existing beyond August.
It all came crashing down for LIV in April when the PIF announced that it would withdraw its funding, starting from next season. Wagner believes that the league stands no chance of survival.
“I spoke to a LIV player who lives in my hometown of Charlotte the other day, and he is trying to make his way back to the PGA Tour. I think that tour is absolutely going to crumble in August. It’ll be done,” said Wagner on Scorecard episode on CBS.
MCKINNEY, TX - MAY 14: Johnson Wagner hits from the 5th tee during the second round of the AT&T Byron Nelson on May 14, 2021 at TPC Craig Ranch in McKinney, TX. Photo by George Walker/Icon Sportswire GOLF: MAY 14 PGA, Golf Herren - AT&T Byron Nelson Icon210514010
MCKINNEY, TX - MAY 14: Johnson Wagner hits from the 5th tee during the second round of the AT&T Byron Nelson on May 14, 2021 at TPC Craig Ranch in McKinney, TX. Photo by George Walker/Icon Sportswire GOLF: MAY 14 PGA, Golf Herren - AT&T Byron Nelson Icon210514010
Ahead of this season, Brooks Koepka already made the move to the PGA Tour, and Patrick Reed also left the league.
Ryder Cup stars Ian Poulter and Lee Westwood have also paid their fines to the DP World Tour after the PIF’s announcement.
It looks like LIV Golfers have started to find alternatives for their future, just like Wagner pointed out.
“They’re looking for $300 million to go forward for next year. The way they’ve currently been running that tour with the purses, $300 million is just scratching the surface. I don’t know what company, and they’re trying to break it up into $50 million investments with different companies,” he added on Scorecard on CBS.
With the help of Ducera Investments, the league is actively seeking investment in the range of $250 to 350 million. Moreover, the league is pivoting to a diversified, multi-partner investment model.
The investment is nowhere near what the PIF did. The Saudi sovereign fund reportedly invested more than $4 billion into the league but incurred losses.
As a result, Wagner considered the LIV model unprofitable. However, the 46-year-old believed there was a lone way to make the league work.
The only way the LIV model survives
LIV Golf features extravagant payouts at events and lucrative contracts for its players. Wagner believed that the league would survive only if it cut its payroll.
“Also, the only way that model works is by reducing purses. And when these players signed with LIV, they signed to play $20, $25 million purses, and I think there’d be absolute revolt,” said Wagner on the same episode.
LIV agents anonymously came out to Skratch’s Alan Shipnuck regarding this matter. According to them, the player contracts would be voided if the league reduces its schedule and the event purses.
Scott O’ Neil, alongside Bryson DeChambeau, has already been pitching a reduced 10-event to prospective investors.
It's only a matter of time before we find out what the future holds for the rebel tour.
What do you think the future holds for LIV? Share your thoughts in the comments.
Written by
Avishek Sarkar
Edited by
Suyashdeep Sason