"Virtually zero" LIV Golf attorneys make embarrassing revenue confession
The inaugural LIV Golf Invitational Series generated "virtually zero" revenue, according to court documents filed in their PGA Tour antitrust lawsuit.
The inaugural LIV Golf Invitational Series generated "virtually zero" revenue in 2022, according to court documents.
Whilst one important hearing in golf's civil war gets underway, another goes at the pace of 2018 Bryson DeChambeau.
A tentative trial date in LIV Golf's antitrust battle with the PGA Tour has been scheduled for January 2024.
Earlier in the week, attorneys for the PGA asked the judge to push back their countersuit.
They argued the timetable for discovery was "untenable" as they also sought leave to add the Public Investment Fund and Golf Saudi governor Yasir Al Rumayyan as plaintiffs in their countersuit.
Related: Pat Reed flies 3,000 miles to attend DP World Tour hearing
Attorneys also alleged Phil Mickelson had not produced all the documents they had requested.
The PGA Tour allege the breakaway tour interfered with player contacts. LIV Golf accuse their rivals of anticompetitive conduct.
LIV Golf attorneys have opposed the PGA's motion to delay proceedings further.
And in court filings, they accused the PGA Tour of "damaging LIV's brand".
Moreover, they said the North American circuit had "driven up its costs by hundreds of millions of dollars, and driven down revenues to virtually zero".
In full:
Last October, it was revealed the PIF had spent about $784m bankrolling the first season.
Mickelson all-but confirmed he had signed a deal worth $200m with LIV. Dustin Johnson reportedly cost $150m. DeChambeau? More than $125m.
Cameron Smith drove up his price to approximately $100m after winning the Open. We do not know the details of the players' contracts.
LIV Golf head into their second season after finally striking a U.S. TV deal with the CW.
We also do not know the terms of that deal but it has been suggested they are sharing the revenue and would continue to pay their own production costs.
LIV have also been hit with the loss of high-profile execs. Most prominently, Atul Khosla left his position as chief operating officer in December.
His departure was shrouded in mystery. Director of franchises Matt Goodman also reportedly left his position in January.
The LIV Golf League is scheduled to get underway in Mexico at El Camaleon Golf Course in Mayakoba, Mexico, over 24-26 February.
Next page: Nine players who changed their mind about LIV Golf
Ben joined the GolfMagic team in September 2021, initially as a content executive.
These days, he assumes the position of content manager.
