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Started By
Message
re: LIV Golf Adelaide
Posted on 4/26/24 at 10:34 am to lsupride87
Posted on 4/26/24 at 10:34 am to lsupride87
You have no facts, you’re just saying what you “think” is happening.
2
Posted on 4/26/24 at 10:59 am to JimTiger72
quote:
You have no facts, you’re just saying what you “think” is happening.
Well we know the purse is $20 million. We also know there are guaranteed contractual payouts to a huge chunk of the big players, some with massive contracts like Rahm, DJ, Phil, Brooks, etc. Then there's the cost of putting on the tournament. The PGA has already said that they lose money on their elevated events with the massive purses, so I think it would be fair to assume that with far fewer corporate sponsors and media rights on LIV that they would lose considerably more than the PGA does. But profit margins aren't of primary concern to LIV/PIF and won't determine whether they consider this event a success
Posted on 4/26/24 at 10:59 am to JimTiger72
quote:Dude you can look up just how hard it is to make money playing global events for golf. It’s all out there. Or you can actually talk to one of our posters that puts these type of events on
You have no facts, you’re just saying what you “think” is happening.
quote:
By far the biggest problem is that there are vanishingly few sponsors outside the U.S. who will put up the kind of sponsorship dollars required to host $15 - 20+M professional golf event every year outside the U.S. It's not like this is the first, second, or tenth iteration of this idea; it's just that LIV has sponsors that, to date, have not cared one shite about actually making money.
The way to get around it is to make it more worth their while (a la Formula 1), but that takes time.
In other words, look at even what is likely a relatively "successful" event in LIV term at Adelaide: that tournament is still going to be a gigantic money loser for the organization. $25M purse + $5 - 10M in operating expenses + approximately $20 - 30M allocated annualized "Capex" in player acquisition fees. That tournament isn't sniffing $20M in revenue both on site and TV included.
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