How does Tiger Woods’ TGL compare to LIV Golf in terms of financial backing? Size of the two series examined
Tiger Woods TGL is considered a back threat to LIV Golf. The 15-time major champion started a sports entertainment company called TMRW Sports, which has announced its first venture, the TGL.
TGL is a virtual golf league. It boasts a huge investment from some of the rich investors in America, including billionaire Arthur Black.
Unlike LIV Golf, TGL is an 18-hole match on a virtual course. There will be six teams with four players in each. LIV Golf has 12 teams with four players in each team.TGL is finally supported by Tiger Woods and Rory McIlroy along with other high-profile investors.
According to Sportico, TGL’s ownership is divided into four groups. 54 per cent of the series rights are owned by TMRW Sports which was founded by Tiger Woods and Rory McIlroy, 18 per cent owned by PGA Tour and Franchise Owners each and the remaining 10 per cent by Player pool.
The series will make money from national media rights, sponsorship, tickets, sales, and other marketing tools. Reportedly, the series’s executive team projecting that the TGL teams will be collecting a national distribution of $2.4 million in one year with a projection of around $7.6 million per team in 2033.
The specific team revenue via sponsorship & licensing is around $4.4 million and the projection for 2033 is $13.3 million. The series will hold 15 regular events followed by a semi-final and final. The prizes and winning amount will be announced with time.The LIV Golf, on the other hand, is finally backed by one of the world’s richest investing bodies, Saudi Arabia Public Investment Funds.
The series has 14 tournaments in a season with a purse of $20 million for each tournament. According to CB Insights, PIF has reportedly invested $2,000 million in the series.At the end of every season, LIV Golf also has a team championship, which has a tremendous purse of $50 million.
TGL teams have different owners while LIV Golf teams are financially supported by the PIF.PIF’s estimated assets are $776 billion while TGL’s owners Tiger Woods and Rory McIlroy’s combined net worth is estimated to be around $1.3 billion. According to Forbes.com, Tiger Woods’ net worth in 2023 is roughly around $1.8 billion while Rory McIlroy’s net worth is around $200 million.
