The Saudi-backed LIV Golf Tour has been making waves in the golf world, luring players away from the PGA Tour with promises of massive payouts and guaranteed money. However, that guaranteed money might not be quite what it seems.
LIV Golf is seeking an emergency injunction that would prevent the PGA Tour from banning its golfers from participating in the FedEx Cup. During the court proceedings, one of the LIV attornies made an admission that has the golf world buzzing.
The attorney explained that at least some of the guaranteed upfront money given to the players is treated like an advance. Based on the attorney’s explanation, the money players earn in tournaments is then counted against the upfront money they get when they sign on with the league.
He moved very quickly passed that and did say that each contract is different, but did insinuate that not all guaranteed money is guaranteed. https://t.co/OgvD1sW1y1
— No Laying Up (@NoLayingUp) August 9, 2022
Hit up the @LIVGolfInv media reps on this, but all that upfront money may not be what we thought it was. One of the LIV lawyers in court basically laid out that the upfront money like it's a book advance. Tournament winnings count against upfront money.
— A.J. Perez (@byajperez) August 9, 2022
“Hit up the @LIVGolfInv media reps on this, but all that upfront money may not be what we thought it was,” A.J. Perez of Front Office Sports Tweeted. “One of the LIV lawyers in court basically laid out that the upfront money like it’s a book advance. Tournament winnings count against upfront money.”
Under this type of contract, while the money would still technically be guaranteed, players would be unable to make more than their upfront payment until they recouped the amount in tournament winnings.
If this is true, it could radically change LIV Golf’s perception.