31.10.2021 – 19:44
Life Golf Investment
West Palm Beach, Florida (ots/PRNewswire)
NORMAN enters historic 10-year contract with ASIAN TOUR totaling over $200 million
– World No. 1 and World Golf Hall of Fame member Greg Norman has been announced today as CEO of the newly formed company, LIV Golf Investments, a move that will fuel a number of targeted developments for professional golf around the world.
The first item on Norman’s agenda is the announcement of a groundbreaking series of 10 new major events scheduled to take place annually on the Asian Tour over the next 10 years, totaling more than $200 million in game money and prizes. This move represents one of the largest single investments in the history of professional golf.
The series will be added to the Asian Tour agenda from 2022, with new events in Asia, the Middle East and Europe. They are designed to increase fan engagement, generate new business interest, and help stabilize the game of professional golf after a long period of turmoil and uncertainty around the world.
“This is just the beginning,” Norman commented. “LIV Golf Investments has secured a significant commitment of capital that will be used to create new opportunities in professional golf around the world. We will be collaborators and respected sportsmen at all levels, and today’s announcement along with the Asian Tour is the first example of that.”
“I have been a staunch advocate and supporter of golf and its development in Asia for more than four decades. The Asian Tour is a sleeping giant, and our ambition is to expand the series and unleash what we believe is great untapped potential. We view our sponsorship of these new events as an important first step in supporting emerging markets And creating a new platform with a lot of gaming opportunities that creates valuable pathways for players.”
LIV Golf Investments is incorporated with group companies in the US and UK, with Asian offices to track. Several prominent CEOs have already been appointed and more announcements will follow in due course. The Public Investment Fund, one of the world’s largest sovereign wealth funds with a diversified international investment portfolio, is the majority shareholder in the new company. It is planned to bring in more investment partners who share a passion and belief in how new opportunities in professional golf can create comprehensive benefits for fans and players.
“This is the greatest development in the history of the Asian Tour and a major goal for professional golf,” said Cho Min Thant, Agent and CEO of the Asian Tour. “This opportunity will provide us with unprecedented new ways to play, unlock new paths for players, allow us to compete commercially with other sports and improve our social agenda.”
“We are particularly excited about what today’s milestone represents for amateur football as it inspires aspiring players with a new level of professional competition at the highest level in the region.”
The series will complement the established events of the Asian Tour and include a season of 25 events expected to generate a total of prize money in 2022. Each of the 10 new events will be broadcast live around the world, and there are plans to attract an international field of top talent through an open qualification category, regardless of Regardless of the affiliation of the tour, so that opportunities for the widest possible section of the players are given.
Today’s announcement comes immediately following the conclusion of a new 10-year partnership between the Asian Tour and Golf Saudi, the organizing company for Saudi International with the support of SoftBank Investment Consultants, in which the tournament will become the main tournament of the Asian Tour and with a fantastic prize. 5 million dollars money. Saudi International is not one of 10 new events that will be part of the new series, but it will in itself introduce expanded exemption requirements.
Another sign of an improvement in the Asian Tour was the recent announcement that competition operations will soon resume after being postponed due to the COVID-19 pandemic. The off-season 2020/21 season will end with two new tournaments in Thailand in November and December 2021 and two more tournaments in Singapore in January 2022.
The new 10-event series will take place over the course of 2022, with all full field events contributing to the order of merit.
More details about the new series, including brand announcements and the series name, will be announced soon.
Information about the Asian tour
As the official body for professional golf in Asia, the Asian Tour is a pioneer in the development of professional golf throughout the region. It promotes the careers of its members while also championing the integrity of the game. As a member of the International PGA Tour Association, the Asian Tour is the only professional golf tour in Asia in Asia. The tour is officially recognized by the official golf world rankings and awards valuable rating points to its events so that participants are recognized on the world stage. It is also a subsidiary of The R&A. Tour partners include Rolex (timekeeper), Habitat for Humanity (partner in sustainable development), Titleist (web partner), and FootJoy (tour resource). Asian Tour is headquartered in Sentosa, the home of Asian Golf, while Sentosa Golf Club is part of an exclusive network of Asian Tour Destinations. The tour also has an office in Kuala Lumpur, Malaysia.
Information on LIV Golf Investments
LIV Golf Investments is a newly formed company with group companies in the US and UK, with Asian offices to track. Its mission is to comprehensively improve the health of professional golf on a global level and support existing interest groups in unlocking the untapped potential of the sport. Greg Norman is the first and first CEO of LIV Golf Investments. The Public Investment Fund, one of the world’s largest sovereign wealth funds with a diversified international investment portfolio, is the majority shareholder in LIV Golf Investments.
LIV Golf Investments: [email protected]
Asian Tour: [email protected]
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