Is LIV Golf falling apart? Here’s all we know about the top executive reportedly leaving LIV
LIV Golf has found itself in hot water once again as a top executive is reportedly leaving the controversial series.
According to the Sports Business Journal, the president of franchises for the Saudi-backed circuit, Matt Goodman has parted ways with the organization.
Goodman was the COO and chief commercial officer at New York City Football Club before he joined the controversial series in May 2022. Prior to NYCFC, Goodman had worked with the NBA for a whopping six years in team marketing and business operations.
He reportedly spent time with Madison Square Garden and the Cleveland Browns.
Those familiar with the business dealings of LIV Golf saw Matt Goodman as someone who brought a sense of business professionalism and formidability to the operation.
Goodman's departure is the second big blow to the league as it comes days after the chief operating officer Atul Khosla left in December. Sources told Golf Digest that Khosla was the voice of reason in the organization. Khosla insisted that the organization's goals were business-related in the face of the backlash the league received for apparently 'sportwashing' Saudi Arabia's reputation.
Saudi Arabia funds the tour through its Public Investment Fund.
No financial backers lined up for LIV Golf 2023?
LIV Golf has announced to go bigger for the second edition in 2023. Officials claimed that the franchise component was the biggest facilitator in future sponsorships and revenue.
The second season, which is slated to begin in February, will feature 12 teams competing in a 14-event schedule. The team captains are said to have as much as 25% per cent equity stake in their teams. Each team would pay its own running expenses by utilising sponsorships, team prizes, and merchandise.
According to sources who spoke to Golf Digest, the numbers given by the league to the players, potential sponsors and owners have stayed consistent. A $1 billion potential valuation for a four-person club.
However, while the league splurged a whopping $784 million to launch the tour, the inaugural season did not have any formal sponsorship.
Now heading into the new season, it is still unclear if the tour has any financial backers lined up for 2023.