“The wind of innovation in the golf world brought by oil money”… Opportunity or bubble?
Due to the aggressive influx of ‘oil money’, the golf world is undergoing big and small changes. Experts expected that the inflow of oil money would trigger goodwill competition in the golf world, which had long been monopolized by the American Professional Golf Association (PGA)토토사이트
Jaepil Lee, professor of golf industry at Konkuk University Graduate School of Industry, said on the 16th, “The birth of new leagues such as LIV Golf and the International Series is an unprecedented opportunity for players.” Players can play with more prize money and guaranteed rest.”
Lee Shin-pro, an MBC commentator, also evaluated, “The influx of oil money provided more spectacle not only to the players but also to the fans.” “Saudi capital has long been a ‘big hand’ for the PGA Tour and DP World Tour, with more than 25 sponsoring companies from Saudi Arabia or the United Arab Emirates (UAE) among the PGA Tour sponsors,” said the pro. It is natural to move forward to promote the sports industry of 54 holes without a cutoff and bold attempts such as allowing players to wear shorts are new pleasures that have not been seen on the PGA Tour, even from the perspective of spectators.”
However, there are also opinions that the new league with oil money at the forefront has a formidable task in order to establish itself as a bona fide competitor on the PGA Tour. The reason is that the competitiveness of the new league has declined as the PGA has put money to ‘match’ oil money, such as more than doubling the total prize money for this year’s Phoenix Open.
Pro Lee said, “As the PGA Tour was determined and began to raise prize money, the power of LIV Golf, which had a prize money of billions of won, was also weakened.” If we solve it, we will be able to gain a competitive edge.” This pro thinks that this foundation should be laid within three years, when the contracts of top-ranked players such as Phil Mickelson and Cameron Smith end.
There are also concerns that new leagues such as LIV golf will have difficulty expanding their fan base due to their inherent limitations. Currently, LIV golf is broadcast only through digital platforms such as YouTube and Facebook. This is because major US broadcasters are ignoring LIV Golf because Saudi Arabia is behind it.
Lee Jong-seong, a professor of sports industry at Hanyang University, said, “Liv Golf recently signed a broadcasting contract with the CW Network in the United States, but compared to major broadcasters such as ESPN and CBS, its ripple effect is weak.” There is a high possibility that it will be established as a ‘major-minor league’ system, not a structure.” “The only way for LIV Golf to survive is through a contract with OTT. LIV Golf needs to make a breakthrough by creating a production company or signing a contract with a channel where the production company and OTT are tied together in the form of a consortium,” he advised.
Due to the aggressive influx of ‘oil money’, the golf world is undergoing big and small changes. Experts expected that the inflow of oil money would trigger goodwill competition in the golf world, which had long been monopolized by the American Professional Golf Association (PGA)
