LIV Golf Investments and the Asian Tour Unveil The International Series with Increased Investment to $300MM
2022-2023 Destinations and Prize Purses Announced for Ground-breaking Series of 10 Marquee International Events Ushering in New Era for Asian Golf
NEW YORK and SINGAPORE, Feb. 1, 2022 /PRNewswire/ -- LIV Golf Investments and the Asian Tour today unveiled The International Series and the 2022-2023 destinations and prize purses for the ground-breaking series of 10 marquee international events announced in November 2021.
In what is the most significant development in the history of Asian golf and a boom for the global game, what is now to be known as The International Series will be integrated into the full 2022-23 Asian Tour schedule. The series will kick off in Thailand in March followed by visits to England, Korea, Vietnam, the Middle East, China, Singapore, and Hong Kong and will feature prize purses ranging from $1.5 to $2MM per event.
Today's announcement also saw the unveiling of the new brand, name, and logo for The International Series as well as an increase in the lucrative and unprecedented investment into the Asian Tour by LIV Golf to $300MM from $200MM, further solidifying LIV Golf Investments' dedication to the growth of the global game. As one of the biggest investments in the history of professional golf, The International Series will support playing opportunities and prize funds for the 10 events to be played every season over the next decade. It has been designed to drive greater engagement amongst fans, attract new commercial interest and to help stabilize professional golf following a sustained period of worldwide disruption and uncertainty.
"We are on the threshold of a new era for Asian golf," said Cho Minn Thant, Commissioner and CEO, Asian Tour. "The International Series is a new upper-tier of elite events, the likes of which the region has not seen before, that will mark the start of a phenomenal period of growth for the Asian Tour. It also signifies the furthering of our relationship with our new strategic partner LIV Golf Investments and its CEO, Greg Norman.
Importantly, The International 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. Each of the 10 events will be broadcast live across the globe, with plans to attract an international field of headline talent."
In October last year, Greg Norman was announced as CEO of LIV Golf Investments – a newly formed company whose purpose is to holistically improve the health of professional golf on a truly global scale to help unlock the sports' untapped worldwide potential. PIF, one of the world's largest and most impactful sovereign wealth funds with a diverse international investment portfolio, is the majority shareholder in LIV Golf Investments.
"We are setting the Asian Tour up as a powerful new force on the world golf stage," said Norman. "In my 40 years as a professional golfer, I've seen many parts of the world that have benefitted tremendously from golf and its growth and development. We now have the opportunity to do that in the Asia Pacific region and the Middle East with this incredible investment platform. Everyone benefits – professional players, amateurs, grassroots golf, fans, economies, communities, stakeholders. I've never been so optimistic about the future of the sport."
The widely acclaimed Black Mountain Golf Club in Hua Hin, Thailand, will host The International Series Thailand March 3-6, boasting a prize purse of $1.5MM, before London stages the next event at Centurion Club from June 9-12, offering a $2MM purse. The second half of the year will see stops in Korea, Vietnam, and Indonesia before heading to the Middle East and then culminating in China, Singapore, and Hong Kong.
The announcement comes on the eve of the Asian Tour's new season with the $5MM PIF Saudi International powered by SoftBank Investment Advisers starting this Thursday February 3rd at Royal Greens Golf & Country Club. With six of the top 20 players in the world competing – including Americans Dustin Johnson, the 2019 and 2021 champion, and Bryson DeChambeau – as well as over 50 of the Asian Tour's most prominent players, the star-studded event is the strongest field in the history of the Asian Tour. The tournament, which is not part of The International Series, also offers one of the Asian Tour's most lucrative purses.
The Asian Tour's 2020-21 season was recently completed and saw Joohyung Kim, Korea's 19-year-old rising star, claim the coveted Asian Tour Order of Merit.
Speaking at today's press conference, Kim said: "I have been fortunate to enjoy an amazing start to my professional career but for this to happen at the same time as the Asian Tour is going through such incredibly positive changes is a huge bonus for me, as well as for all the Asian Tour players."
More details of The International Series events, and other Asian Tour tournaments this year, will be made available in due course.
About The Asian Tour
As the official sanctioning body for professional golf in Asia, the Asian Tour leads the development of professional golf across the region, enhancing the careers of its members while maintaining a commitment to the integrity of the game. The Asian Tour, through its membership of the International Federation of PGA Tours, is the only recognised pan-Asian professional golf tour in Asia. The Tour is officially recognised by the Official World Golf Ranking and provides its events with valuable ranking points for participants to be recognised on the world stage. It is also an affiliate of The R&A. Tour Partners include Rolex (Timekeeper), Habitat for Humanity (Sustainable Development Partner), Titleist (Web Partner) and FootJoy (Tour Supplier). The corporate headquarters of the Asian Tour is based in Sentosa, which is the home of Asian Golf while Sentosa Golf Club is part of an exclusive network of properties under the Asian Tour Destinations. The Tour also has an office in Kuala Lumpur, Malaysia.
About LIV Golf Investments
LIV Golf Investments is a newly formed company, with group companies in the USA and UK, with Asian offices to follow. Its purpose is to holistically improve the health of professional golf on a truly global scale to help unlock the sports' worldwide untapped potential. Greg Norman is the first and founding CEO of LIV Golf Investments. PIF, one of the world's largest sovereign wealth funds with a diverse international investment portfolio, is the majority shareholder in LIV Golf Investments.
About The International Series
The International Series was established as a new series of 10 marquee international events on the Asian Tour following an unprecedented investment of $300MM by LIV Golf Investments. Integrated into the 2022-23 Asian Tour schedule, The International Series will kick off in Thailand in March followed by visits to England, Korea, Vietnam, the Middle East, China, Singapore, and Hong Kong and will feature prize purses ranging from $1.5 to $2MM per event.
SOURCE LIV Golf Investments
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