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.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.