People I (Mostly) Admire 99. Greg Norman Takes On the P.G.A. Tour
Feb 18, 2023
Greg Norman, a former world number one golfer and CEO of LIV Golf, returns to discuss his polarizing impact on the sport. He unveils the competitive dynamics between LIV and the PGA Tour, highlighting the innovative tournament formats designed to engage younger audiences. Norman explores the financial implications of his league, fueled by Saudi investments, while questioning the monopolistic nature of traditional golf. The conversation also touches on the future of golf and the need for new communication strategies to adapt to evolving player motivations.
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Historical Parallels in Golf
- Greg Norman discusses Live Golf's disruption, drawing parallels to Arnold Palmer and Jack Nicklaus's PGA Tour creation.
- He emphasizes Live Golf's unique model and its injection of significant capital into the sport.
Perceptions of Unfair Competition
- Steve Levitt suggests the perceived unfairness of Saudi funding stems from the large signing bonuses and prize money.
- It feels like they're unfairly competing by throwing around impossible sums of money.
Player Value and Compensation
- Norman uses Rory McIlroy's appearance fees as an example of how individual players create value and get paid for their brand.
- He draws a parallel to Live Golf's commitment fees and explains how they're structured per tournament.