Greg Norman will shift into a brand new function with LIV Golf. The Saudi Public Funding Fund (PIF)—LIV’s beneficiary—has been looking for a brand new chief govt officer for months, Josh Carpenter of Sports activities Enterprise Journal initially reported.
The report notes that the PIF has employed London-based Odgers Berndtson to carry out a seek for a brand new govt. Doable candidates embrace extremely established sports activities enterprise executives, proving that LIV Golf hopes to stay a mainstay inside skilled golf. Norman’s new function stays unclear.
After all, the PGA Tour is at present in talks with the PIF, negotiating how the game’s future will look. PGA brass, spearheaded by Commissioner Jay Monahan, former board member Jimmy Dunne, and Coverage Board Chairman Ed Herlihy, shockingly introduced a framework settlement with the PIF on Jun. 6, 2023. That deal settled all lawsuits and set the course for each events to strike a concrete, nuanced settlement to settle golf’s present schism.
Within the days after the framework settlement grew to become public, studies emerged that Monahan would take over as LIV’s de facto commissioner and have the ultimate say about its future. However no such occasion has transpired.
As a substitute, LIV has continued to develop, wrapping up its third full 12 months of operations in 2024—a 12 months that included the additions of Jon Rahm and Tyrrell Hatton, and Bryson DeChambeau shining on the U.S. Open.
The league additionally employed Nike’s Illana Finley as its new chief communications officer on the finish of September. 5 LIV Golf groups have made company hires, too, appointing 5 trade administrators as new common managers.
As for Norman, his function as LIV Golf CEO since its launch in 2022 has been polarizing.
“Greg has to go, initially,” stated Tiger Woods forward of the 2022 Hero World Challenege.
“Then we are able to speak freely, to say the least.”
Rory McIlroy agrees.
“I’ve hung out with [PIF Governor] Yasir al-Rumayyan, and the folks that have represented him in LIV, I feel, have accomplished him a disservice, so [Greg] Norman and people guys,” McIlroy stated after his last spherical on the 2024 Gamers Championship.
“I see the 2 entities, and I feel there’s a very large disconnect between PIF and LIV. I feel you bought PIF over right here, and LIV is kind of over right here doing its personal factor. So the nearer we [as the PGA Tour can] get to Yasir, PIF and hopefully finalize that funding, I feel that might be a very good factor.”
McIlroy then tried to provide a motive for the PIF’s final plan.
“They’re a sovereign wealth fund,” McIlroy stated.
“They wish to park cash for many years and never fear about it. They wish to put money into sensible and safe companies, and the PGA Tour is certainly a type of, particularly in the event that they’re trying to put money into sports activities in a roundabout way.”
The PIF, which reportedly has over $700 billion in belongings, serves because the sovereign wealth fund for the Saudi Arabian Kingdom. The Kingdom has had a prolonged historical past of committing atrocities, together with the subjugation of girls, the dismemberment of journalist Jamal Khashoggi, fostering a civil warfare in Yemen, and having totalitarian management over its inhabitants. Fifteen of the 19 hijackers on Sept. 11, 2001, had been additionally Saudi residents, and current studies level to connections between al-Qaeda and the Saudi Kingdom. That explains why they wish to ‘sportswash,’ hoping to enhance their worldwide repute among the many international elite by investing in sports activities. Plus, its financial system appears to be like to diversify itself from oil, because the Kingdom sees it as a depreciating asset sooner or later. Therefore, the PIF now owns and facilitates Newcastle United of the English Premier League, made a considerable funding into Formulation One racing, and poured billions into creating LIV Golf, which included paying PGA Tour gamers to bolt. No one obtained greater than Rahm, although, as he reportedly obtained north of $450 million from the PIF in Dec. 2023.
Nonetheless, Norman leaving his publish as CEO might pace up negotiations between the PIF and the tour. The 2-time main winner has lengthy envisioned a worldwide tour of high gamers traversing the world. He initially laid out his plans for a worldwide league within the mid-Nineties, which Jack Nicklaus and Arnold Palmer scoffed at, per Alan Shipnuck’s marvelous e book, LIV and Let Die. McIlroy has known as for one thing comparable, however his disdain for Norman stays. Maybe this shift in management will assist the state of golf. Or maybe not. However one factor appears sure: LIV Golf is right here to remain.
Jack Milko is a golf workers author for SB Nation’s Taking part in By way of. You should definitely try @_PlayingThrough for extra golf protection. You possibly can comply with him on Twitter @jack_milko as effectively.
