A major shift in the world of golf could be happening with the Saudi Arabian backed LIV Golf Invitational Series seeking to compete with the PGA Tour. To lure away one of the top golfers, LIV helped set a new record for earnings.
What Happened: Benzinga reported recently that Tiger Woods turned down a reported $1 billion to join the LIV Golf Invitational Series. The report came from an interview with Greg Norman, former pro golfer and CEO of LIV.
One golfer who didn’t turn down money to join LIV was Dustin Johnson, who was ranked as the 13th best golfer in the PGA Tour at the current time.
Johnson is getting paid a reported $125 million to join the LIV. While the figure already sounds large, it is massive when comparing it to course earnings.
Johnson ranks third all-time in PGA Tour earnings at $74.3 million. Only Tiger Woods ($120.9 million) and Phil Mickelson ($95.0 million) have earned more on the PGA Tour than Johnson.
Johnson is getting paid more money to join the league than Woods has earned in his PGA Tour career, all before taking a single swing for the new golf league.
Why It’s Important: LIV is seeking to be a major competitor to the PGA Tour and is shelling out millions of dollars to lure golfers away, including Johnson and Mickelson.
Woods was the all-time leader in golf tour earnings, a number that could be impacted now depending on how Johnson’s reported payout to join the league is classified.
Outside of golf, Woods has enjoyed a large amount of endorsements, including sponsor Nike Inc NKE. Prior to his divorce, Woods was a billionaire thanks to his golf earnings and endorsements.
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