Greg Norman at head of major expansion of Asian Tour

Greg Norman has been announced as chief executive of a newly formed company, LIV Golf Investments, a move which will set in motion a number of momentous developments for professional golf world-wide.

Norman, an Australian former world No 1 golfer, will have as his first order of business is the announcement of a ground-breaking series of 10 new marquee events to be staged annually on the Asian Tour over the next 10 years, representing a total commitment of more than $US200 million to support playing opportunities and prize funds.

The move represents one of the single biggest investments in the history of professional golf.

The series will be added to the Asian Tour schedule from 2022 onwards, with new events across Asia, the Middle East and Europe.

It has been designed to drive greater engagement among fans, attract new commercial interest and to help stabilise professional golf following a sustained period of worldwide disruption and uncertainty.

“This is only the beginning,” Norman said.

“LIV Golf Investments has secured a major capital commitment that will be used to create additive new opportunities across world-wide professional golf.

“We will be a co-operative and respectful supporter of the game at every level, and today’s announcement alongside the Asian Tour is the first example of that.

“I have been a staunch supporter and believer in playing and developing golf in Asia for more than four decades. The Asian Tour is a sleeping giant and we share ambition to grow the series and unlock what we believe is significant untapped potential.

“We see our promotion of these new events as a vital first step in supporting emerging markets, creating a new platform, rich with playing opportunities that create valuable player pathways.”

LIV Golf Investments has been established with group companies in the United States, United Kingdom, with Asian offices to follow. Several high-profile executives have already been appointed, with further announcements to follow in due course.

PIF, one of the world’s largest sovereign wealth funds with a diverse international investment portfolio, is the majority shareholder in the new company.

Plans are in place to introduce further investment partners, who share the passion and belief in how new opportunities in professional golf can create widespread benefit for fans and players.

Cho Minn Thant, Commissioner and chief executive of the Asian Tour, said: “This is the single biggest development in the history of the Asian Tour and a major milestone for professional golf.

“The opportunity will secure unprecedented new playing opportunities, establish new player pathways, allow us to compete commercially with other sports, and enhance our social agenda.

“We are particularly excited at the prospect today’s landmark announcement brings to the amateur game, providing new inspiration to aspiring players through a new level of top-flight professional competition in the region.”

The series will add to the Asian Tour’s backbone of established events to comprise a 25-event season, expected to represent a record-breaking combined prize-fund in 2022.

Each of the 10 new events will be broadcast live across the globe, with plans to attract an international field of headline talent through an open eligibility category regardless of tour affiliation so opportunities are available to the broadest cross section of players.

The announcement closely followed the striking of a new 10-year partnership between the Asian Tour and Golf Saudi, the organisers of the Saudi International powered by SoftBank Investment Advisers, which will see the event become the flagship tournament on the Asian Tour, featuring an increased prize fund of $US5 million.

The Saudi International will not be one of the 10 new events to feature as part of the new series but will itself provide enhanced exemption requirements.

Further signals of increased prosperity for the Asian Tour also came recently with the announcement that competitive play will soon recommence following a postponement due to the covid-19 pandemic.

The new series of 10 events will take place throughout 2022, with all full-field events contributing towards the order of merit ranking.

LIV Golf Investments, which is expected to launch a new golf circuit in Asia, the Middle East and Europe, has appointed Sean Bratches as chief commercial officer and Ron Crossas chief events' officer. 

Both Bratches and Cross will transition into their roles immediately and bring a combined 60-plus years of experience in golf and sports innovation to LIV Golf Investments.

LIV chief executive Greg Norman said: “We believe the game of golf is poised to grow on a global scale and we are ready to make the necessary strategic investments to support its growth.

“The addition of Sean and Ron to our leadership team delivers an unmatched level of experience and expertise that will allow us to make an immediate impact. I’m excited to get to work and look forward to the months ahead.” 

Bratches brings more than three decades of experience in public and private equity company leadership, management, and operations at multi-billion-dollar scale in media, entertainment, and sports sectors. 

Bratches spent close to 30 years with American sports broadcaster Entertainment and Sports Programming Network (ESN), rising to executive vice president of sales and marketing and serving on the ESPN board of directors. 

Upon Liberty Media’s acquisition of formula 1 car racing, Bratches moved to London for three years serving as managing director of commercial operations where he transformed formula 1 from a motorsport series into a global media and entertainment brand.

Bratches said: “I am energised and excited to join LIV Golf Investments and work to foster sustained growth in the game of golf globally.

“I am encouraged by the comprehensive vision that we have for the sport and the platform that we will create to benefit professional golfers, the sport’s commercial partners, and in particular, the passionate fans of golf worldwide.”

Cross has spent the last 30 years in various leadership roles at the PGA Tour and Augusta National Golf Club. He spent two decades at the PGA Tour running premier events, including the Presidents' Cup, Tour Championship and World Golf Championships before moving to Augusta National Golf Club for eight years.

As part of the leadership team under Augusta chairman Billy Payne, Cross led its grow the game efforts, under Payne’s vision to create heroes around the world. He was integral to the organisation as Augusta National and the Masters Tournament partnered with The R&A, United States Golf Association, PGA of America, and Asia-Pacific Golf Confederation to develop and execute the Asia-Pacific Amateur Championship, the Latin America Amateur Championship and the Drive, Chip and Putt Championship.

Cross said: “I am honoured for the opportunity to work alongside Greg, Sean and the entire LIV Golf Investments team as we work to improve the game of golf on a global level.

“To be a small part of a significant change in the way golf is played and enjoyed while continuing to make a positive impact on the communities we play in is another dream come true for me.”