Report: LIV Golf had 'millions of dollars' unaccounted for in debut season!
LIV Golf's problems with expenses in their debut season reportedly forced out top executives in 2022, according to a report.
LIV Golf reportedly had $180m in expenditures 'that were either necessary but not approved or unnecessary and unaccounted for' in their inaugural season, according to a report.
The revelation was made in a report by SI's Alex Miceli in a piece exploring LIV Golf's expansion plans for 2024.
Per the report, the unaccounted money forced out top executives in the off-season after their 'beta-test' 2022 season.
Related: Why LIV players won't return to PGA Tour before 2025
That included the lives of former managing director Majed Al Sorour and chief operating officer Atul Khosla.
Khosla, in particular, is said to have been involved in a furious bust-up with LIV Golf supremo Yasir al-Rumayyan at LIV Golf's $50m team championship at Trump National Doral, Miami, last October.
The aforementioned al-Rumayyan was also in the news this week after PGA Tour attorneys upped the ante against the governor of Saudi Arabia's Public Investment Fund, accusing the businessman of 'ducking' their attempts to serve legal papers in their counterclaim to LIV's antitrust litigation.
Here's the extract about the money:
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There were other revelations within the article, such as this doozy about LIV players' contracts.
Elsewhere on the agenda for 2024, it is reported that LIV Golf League officials plan on:
- Increasing the number of events from 10 to 14
- All money earned in the team element will be ploughed back into team expenses
- The number of teams being increased from 12 to 15
- Players who finish 45-48 on the points list will be relegated (unless they have a multi-year contract)
Ben joined the GolfMagic team in September 2021, initially as a content executive.
These days, he assumes the position of content manager.
