LIV Golf Reports £461.8 Million Losses Amid Ongoing Financial Challenges
LIV Golf Ltd, the ambitious golf league seeking to redefine the sport, has reported staggering financial losses of £461.8 million ($590.1 million) for the year 2024. This latest downturn brings the total losses for the UK-based entity to a staggering £1.1 billion ($1.4 billion) since its inception just over three years ago.
The financial challenges facing LIV Golf are becoming increasingly apparent as its revenues remain significantly below the astronomical costs associated with attracting top talent from the established PGA and DP World Tours. While the entity’s non-U.S. revenues reached £64.9 million in 2024—representing a 75% increase from the previous year—these figures pale in comparison to the £553 million in costs incurred.
LIV’s income primarily stems from hosting fees, totaling £26.6 million for seven events outside the U.S., alongside sponsorship fees of £17.1 million and ticketing and hospitality sales amounting to £13.2 million. However, over the span of its operations from June 2021 to December 2024, LIV Golf has generated just £107 million in total revenue outside the U.S., significantly less than the prize money disbursed during that time.
The league’s structure includes a hefty prize pot of $25 million for each event, and with 16 non-U.S. events held across three seasons, the total prize money has reached an eye-watering £400 million ($500 million). This massive expenditure is compounded by the substantial signing bonuses and annual payments offered to players, which have not been disclosed in the financial accounts but are included in the overall cost of sales figure, reaching £1.142 billion.
Funding for these extravagant costs has come primarily from Saudi Arabia’s Public Investment Fund (PIF), which owns LIV Golf and has previously invested substantial sums into the league. In 2024 alone, PIF underwrote the reported loss through a £423.7 million share issue, bringing total equity injected into the UK business to £1.033 billion.
The league has seen some success in terms of player earnings, with approximately $1.4 billion in prize money distributed among 95 golfers across its four completed seasons. Jon Rahm, who joined LIV Golf ahead of the 2024 season, has emerged as a leading figure, amassing over $75 million in earnings in just two years, not including undisclosed signing bonuses.
However, LIV Golf’s financial outlook remains precarious. Administrative costs unrelated to player payments have surpassed revenues, and broadcast rights—typically a significant revenue stream for sports leagues—have yielded just £2.8 million outside the U.S. in the past year.
