For the third consecutive year, the global entity that is LIV Golf has seen its U.K. business suffer significant losses, according to recent financial filings in the United Kingdom.
The upstart league is owned by the Saudi Public Investment Fund, with America-based offices in Florida and New York, run as LIV Golf Inc., and international business housed in London, which goes by LIV Golf Ltd. The latter is subject to annual “directors’ report” filings going public each fall, which shows how LIV’s overall international events are faring.
The U.K. arm of the league — which runs half of its 14-event season — suffered losses of $461,808,000 for the calendar year 2024. This came after losses of $395,944,000 in 2023 and $243,737,000 in 2022. All together that amounts to more than $1.1 billion in losses since the league’s inception, strictly from its international business.
The league has had its ups and downs but one thing has been clear from the start: it was going to spend money lavishly in order to make waves in the golf world. And it would have serious monetary backing from the Saudi PIF.
What does this mean for LIV moving forward? It’s hard to be sure. The annual filing disclosed that the company received a “letter of support” from the PIF for the upcoming (2025) year, and its governor, Yasir Al-Rumayyan, has not wavered in his interest in the game. He is playing in the Dunhill Links Championship in St. Andrews this week, and despite no progress on what has become a frosty deal with the PGA Tour, Al-Rumayyan recently said he hopes to work with the Tour soon.
“We reached out to them from Day 1,” Al-Rumayyan said of the Tour and the DP World Tour. “And unfortunately, things didn’t go very well. But hopefully in the future we will be able to bring the game of golf together and this — I mean, what I’m trying to do is not to claw back from the PGA or the DP World Tour. What I’m trying to do is increase the size of the pot.”
In the meantime, the trend does not look great for turning in profits at LIV Golf Ltd. To get a better sense of the revenue streams of their international business, check out the images below. It’s clear that there is a market for pro golf in Australia, at least compared to the other countries that LIV visits. That is perhaps to be expected given the success of its events hosted in Adelaide.
What will be most interesting may not come for another year. LIV Golf CEO Scott O’Neil told GOLF.com that the overall value of sponsorship contracts has grown by a factor of 10, which is considerable, so long as it tracks. His involvement with LIV has only come in the last calendar year, so one would expect the international sponsorship revenues of $17,124,000 to increase significantly. LIV did boast new sponsorship deals with HSBC and Salesforce in 2025. But we will not be privy to those details until next year’s filings.
