Saudi Arabia-backed LIV Golf breathes new life into Asian Tour
There is now greater competition in the sport and this is positive for golf as a whole, says Asian Tour CEO Cho Minn Thant
THERE has been much chatter this year about the new LIV Golf professional golf tour that is financed by Saudi Arabia’s sovereign wealth fund. Its detractors insist that it is an effort to use sport to cover up the country’s poor human rights record.
LIV Golf’s chief executive officer (CEO) is the former world No 1 player Greg Norman, and in its short existence it has managed to strike a blow to the US PGA and the European Tour by luring many top golfers into its ambit. The first LIV Golf Invitational Series event began in June this year at the Centurion Club near London. The series is set to become the LIV Golf League in 2023
But there have been some beneficiaries due to the emergence of LIV Golf, most notably the Singapore-headquartered Asian Tour, which suffered tremendously during the two-plus years of the Covid-19 pandemic due to a lack of events and prize money.
The Asian Tour has a partnership with LIV Golf that grew its coffers by US$200 million. Recently, the Asian Tour announced part of its 2023 calendar that includes 11 events until May, including four International Series tournaments in the second year of its agreement with LIV Golf.
In an interview with BT Weekend, Asian Tour commissioner and CEO Cho Minn Thant described the impact of LIV Golf on the professional golf industry as “enormous”.
“It has brought a fresh and innovative approach with a new form of the game as well as offering competition in the sport which has forced the traditional Tours to reinvent themselves,” he said.
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“There will always be some turbulence when there is a shake-up in any industry, but these are exciting times and we are looking forward to what comes next.”
With the 2023 season starting with the US$5 million PIF Saudi International in Jeddah in early February, Cho is upbeat about the future of the Asian Tour.
Last week, the Asian Tour unveiled its 2023 schedule through May for what promises to be the finest start to a season the Tour has enjoyed in years.
“With LIV Golf and the investment from Saudi Arabia, the Asian Tour was able to stage 20 events with just over US$25 million in total prize money in 2022 and offer 17 tournaments on the Asian Development Tour – a truly remarkable feat,” said Cho, noting that this was an increase from the 23 events staged in 2019 with a total prize purse of US$23 million.
“Seven of those Asian Tour events where part of the International Series. In 2023, we will play 10 International Series events and at least 25 tournaments in total.”
The prize money on offer for each International Series event in 2023 will be at least US$2 million. Six of the seven events staged this year had a US$1.5 million prize, with the other having US$2 million.
Cho is hopeful that the feuding parties in the LIV Golf saga can eventually strike a compromise.
“With time and through dialogue, solutions will be found for the good of each Tour’s membership, the fans and sponsors,” he said. “The Asian Tour is happy to help with this process and as we have always said our door is open to assist with constructive conversation. However, in the short term, our focus is the growth of the Asian Tour and LIV Golf has given us the opportunity to do so.”
Although LIV Golf events has its restrictions, such as the limit of 48 leading players and playing with a 54-hole format, Cho sees benefits in the long term.
He said: “There is space in the professional game for limited field events with new formats, and this is healthy and great for the fans. We see it in other sports. The International Series tournaments are standard format events boasting lucrative purses, great venues and exciting new international destinations.”
Cho is eager to see more of the Asian Tour’s players having the chance to develop their game and progress in the sport, with many already getting more playing opportunities and the chance to win larger prize purses. And most importantly, he said they can benefit from the elevation in the calibre of competition on the tour.
“Professional golf in Asia has never been in a better place. The Asian Tour is so strong now that players do not need to travel to try and make it on the other big Tours, like before. They can play full time on the Asian Tour, which is becoming a global tour. The rise of our 2020/21 Order of Merit champion Tom Kim, who is now ranked in the top 20 in the world, is clear evidence that Asian players are coming to the fore,” said Cho.
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