LIV Golf money and golf’s current ‘gold rush’ explained by

NORTH PLAINS, Ore. — Charl Schwartzel built extra revenue in a few days than any of his many years on the PGA Tour after he received the inaugural LIV Golf Invitational Sequence event near London earlier this month.

The South African is one particular of couple players to acknowledge the “whole thing” about the upstart circuit led by Greg Norman and backed by Saudi Arabia’s Community Financial commitment Fund is the revenue.

“You just can’t lie that it is not about the revenue,” Schwartzel reported before this week. “There’s a large amount of cash out there and it is extra than any person has ever performed for.”

The player reps concur. In a Golfing Digest story, Alan Shipnuck of the Fire Pit Collective spoke with 4 various brokers who symbolize LIV golfers, with every talking anonymously “to facilitate candor.” They are referenced as Brokers A, B, C and D.

“What you have to realize about professional golfers is that they are all whores,” explained Agent A. “That is the beginning level.”

The multi-million dollar discounts gamers have reportedly signed — $200 million for Phil Mickelson, $150 for Dustin Johnson, $100 million for Bryson DeChambeau — have been a scorching subject matter of discussion for weeks, but Golfing Channel’s Brandel Chamblee stirred the funds pot when he sent a considering that-deleted Tweet that claimed prize dollars is used to a player’s signing reward.

Jane MacNeille, LIV Golf’s VP of Communications, finished a Tuesday pre-occasion press conference to tackle the confusion, stating “The prize purses are in addition to (participant contracts). There is no attract at LIV Golfing on any finances.”

“Chamblee was banging that drum the other working day,” quipped Pat Perez.

Agent B hedged the 9-figure experiences, asking the issue: Who added benefits from all those quantities?

“LIV, of course, for the reason that they’re attempting to generate excitement and recruit extra gamers,” he stated. “But it also benefits the agents who are striving to sign new gamers or nudge other shoppers to make the leap.”

A whopping $255 million is up for grabs in the eight-celebration 2022 series. The 7 standard-season functions boast $25 million purses, with $4 million heading to the individual winner and $3 million heading to the successful workforce. The total purse for the crew championship rises to $50 million, with the successful squad taking home a cool $16 million. The participant topped the winner of the common year will gain $18 million, with $8 million going to next and $4 million to 3rd.

Greg Norman, CEO and commissioner of LIV Golfing, appears to be like on through the 2nd spherical of the LIV Golf tournament at Pumpkin Ridge Golf Club. (Photograph: Soobum Im-Usa Today Athletics)

Very last area this 7 days at Pumpkin Ridge will gain $120,000.

“The prize fund is the prize fund,” reported Perez, who previously this 7 days reported he has no challenges with Saudi Arabia funding the collection regardless of its human rights document. “Whatever you gain you get to keep. Which is why fellas are getting this seriously.”

“Mine is in,” Perez later on mentioned of his upfront funds. “I obtained it all. It’s (expletive) unbelievable.”

Agent C claims the contracts value extra income for the large-identify gamers are paid out out with annually installments across the size of the deal. Also inside the contracts? Clawback provisions in case of injury, and a “morals clause” which discounts with on-training course and off-system incidents these types of as cheating or lawful challenges that would allow LIV to terminate a agreement and take back upfront revenue.

A veteran caddie reported just one of the most significant backstories to LIV Golf is the brokers hunting for a significant payday. From Shipnuck’s reporting:

Nevertheless it is issue to negotiation, the standard arrangement in experienced golfing is that gamers preserve all of the cash they get on the study course but brokers just take 20 % of look service fees and endorsement offers. LIV’s upfront dollars is taken care of like the latter, and as a result, the player associates are finding a unwanted fat lower. (Mainly because there is no cut in the gatherings and gamers are guaranteed a check out, some agencies are having a commission on the to start with $120,000 of a player’s winnings, dealing with it as a de facto physical appearance price.)

The tale also quoted Agent D indicating he’s heard grumbling from players on how a lot they must pay back their staff of caddies, physios and brokers, “but there has been so much talk about quotation unquote player greed that I assume they are delicate to not squeezing any one appropriate now. I do be expecting that at the stop of this year some percentages will get adjusted.”

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