Jon Rahm was handed an eye-watering £450 million to join the LIV Golf setup earlier this month, but it appears despite their support, there is not much return for their Saudi Arabian backers
According to reports, Jon Rahm’s contract with LIV Golf is worth £450 million, which is six times more than the revenue the breakaway league generated in 2023 during its inaugural full season.
The LIV setup have burst onto the pro golf scene over the past 18 months, all thanks to the backing of the Public Investment Fund of Saudi Arabia (PIF). The wealth of the Saudi fund has allowed the breakaway league to lure in some of the biggest names in the sport.
The likes of Phil Mickelson, Brooks Koepka, Bryson DeChambeau and Phil Mickelson have all signed multi-million-pound contracts with LIV, as the Saudi league emerged as a direct rival to the PGA Tour.
Their latest coup was their biggest yet, as Greg Norman and co acquired the services of one of the PGA Tour’s most prized assets in Masters champion Rahm. Unsurprisingly the Spaniard’s signature came at a cost, with Rahm penning a record-breaking deal.
Although the LIV league’s Saudi backers are pouring a lot of money into it, it doesn’t seem like much is being returned. A Golf.com report states that the breakaway circuit’s 2023 revenue was less than £78.5 million ($100 million), which is a significant amount less than Rahm’s mega-money contract.
The Saudi-backed series has come a long way since it was founded last summer to establish itself as a major force in professional golf, but it still trails behind its PGA Tour rivals in terms of revenue. The 12 teams on the circuit have made their moves in terms of sponsorship.
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