Greg Norman will shift into a brand new function with LIV Golf. The Saudi Public Funding Fund (PIF)—LIV’s beneficiary—has been trying to find a brand new chief government 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 government. 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 presently 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 turned public, reviews 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 business administrators as new normal managers.
As for Norman, his function as LIV Golf CEO since its launch in 2022 has been polarizing.
“Greg has to go, initially,” mentioned 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 frolicked with [PIF Governor] Yasir al-Rumayyan, and the people who have represented him in LIV, I feel, have finished him a disservice, so [Greg] Norman and people guys,” McIlroy mentioned after his closing spherical on the 2024 Gamers Championship.
“I see the 2 entities, and I feel there’s a very massive disconnect between PIF and LIV. I feel you bought PIF over right here, and LIV is form 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 offer a purpose for the PIF’s final plan.
“They’re a sovereign wealth fund,” McIlroy mentioned.
“They need to park cash for many years and never fear about it. They need to put money into sensible and safe companies, and the PGA Tour is unquestionably a type of, particularly in the event that they’re seeking to put money into sports activities not directly.”
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 ladies, 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, have been additionally Saudi residents, and current reviews level to connections between al-Qaeda and the Saudi Kingdom. That explains why they need to ‘sportswash,’ hoping to enhance their worldwide status among the many international elite by investing in sports activities. Plus, its financial system seems 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 System One racing, and poured billions into creating LIV Golf, which included paying PGA Tour gamers to bolt. No person acquired greater than Rahm, although, as he reportedly acquired north of $450 million from the PIF in Dec. 2023.
Nonetheless, Norman leaving his submit as CEO might velocity 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-Nineteen Nineties, which Jack Nicklaus and Arnold Palmer scoffed at, per Alan Shipnuck’s marvelous guide, 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 employees author for SB Nation’s Enjoying Via. You should definitely try @_PlayingThrough for extra golf protection. You may observe him on Twitter @jack_milko as properly.
