Greg Norman announces his LIV Golf contract expires in August 2025

Three years into his role as commissioner and CEO of the LIV Golf League, Greg Norman doesn’t speak like someone who’s short on time.

The World Golf Hall of Famer remains optimistic about the future of LIV Golf, despite what he says are obstacles, while a deal between his employer, the Public Investment Fund of Saudi Arabia, and the PGA Tour remains in limbo.

In an interview with Sports IllustratedNorman spoke about the progress made and the challenges still facing LIV Golf, while emphasizing that he has been part of the discussions over five years and that these would not be affected by a possible deal.

But also during his discussion with SINorman admitted that he has less than a year left on his contract with LIV Golf.

Asked about a recent report from Sports Business Journal According to sources, the PIF wanted to replace Norman as CEO, the two-time major champion said:

“I will answer it this way: My contract runs until August 2025. My commitment to LIV is beyond question, and my commitment to the future is also beyond question. Time will tell. Will there be a change in my role? My position and my job is to get to 2025 and execute our schedule and everything we need to do.”

Norman, 69, was named CEO of LIV Golf Investments in October 2021 and plans to also be commissioner of a new tour scheduled to launch the following year.

No contract details have been revealed at this time and Norman has not previously said the deal appears to be for four years. He began working in the summer of 2021, before his role was made public.

What followed was a turbulent period in the game, with LIV Golf signing several notable players, including major champions Phil Mickelson, Dustin Johnson, Brooks Koepka, Bryson DeChambeau, Cam Smith, Jon Rahm and others, with lucrative guaranteed contracts and opportunity to play for $25 million in prize money every week as part of a team format.

A year after launch, despite some rancor, the PGA Tour and PIF surprisingly announced a “framework agreement” to bring the two sides together. While the tour received private investment from Strategic Sports Group earlier this year and LIV has signed some prominent players through 2024 in Rahm and Tyrrell Hatton, the status quo essentially remains.

Norman believes a deal would help LIV, but said a resolution is essential in any case. He claimed – as he had said several times – that he was not involved in any discussions and did not know where the discussions were at.

“I can only speak on behalf of LIV and we will move forward regardless of a deal. Would it make things easier? Yes, that would be it,” he says. “Whether it’s a year or now.

“But as an outsider you know from day one three years ago that this was such a simple solution. I will go to my grave and wonder about the first 18 months (with LIV) and the reason for it. Know where we are today. Knowing the acceptance of what LIV Golf is today. Why did it have to be this way?

“You sit back and see all the people in the industry who caused this fear. I just wish I could go back in time and relive the beginning. And if they knew what they know, they would have done things differently. I bet they would have.”

These are questions that cannot be answered.

When LIV Golf signed players and began its first tournament in June 2022, the PGA Tour and commissioner Jay Monahan adhered to its rules requiring clearances for conflicting events and not allowing clearances for domestic tournaments.

PGA Tour players who went to LIV Golf violated these rules and were either suspended or resigned. The Tour still considers LIV golf events “unauthorized” and has even barred non-members who participate in LIV events from participating in PGA Tour-sanctioned events for a year.

Norman also pointed to the fact that Tour officials never acknowledged offers from LIV Golf, including Norman, to discuss anything related to the new venture. The negotiations with the PIF took place in secret and without LIV Golf staff.

“I’m just talking about LIV; We stayed true to ourselves and our business model,” says Norman. “I tried to take the main route. We knew that what we had and what we were doing was right. Time and patience are our greatest allies… 36 tournaments (in three years) is nothing. The PGA Tour has been around for 56 years. And we did it in three years. That’s why I’m optimistic about the future and where we will be in 10 years.”

Norman praised LIV’s ability to withstand significant negativity and said the organization has fully embraced the idea that the team aspect is the way forward.

LIV Golf’s business model is based on these teams being sold as “franchises” to potential owners who would put their own money into running these teams, with LIV Golf then operating the league.

The 13 teams have captains who hold 25% ownership of their teams (although two of the LIV team captains are not believed to have this deal), while LIV Golf retains the other 75% until they are sold.

“What surprised me is the general acceptance, desire and willingness of our team captains and our other team members who want the team concept,” Norman says. “We want to expand our teams. Suddenly I returned to the 26th tournament, which would have taken place around May this year, and the light went on in the captains’ heads. They saw the opportunity that was presented to them in expanding their franchise and ultimately embraced it.”

However, none of the teams have yet been sold to a potential owner and acceptance of the concept varies. Although LIV’s final event of the year, the Team Championship, is entirely a team event, the other 13 events utilize a stroke play individual format and use those results to determine a team standings.

The individual budget for each event is $20 million, with a separate budget of $5 million for the team competition, with only the top three teams paid each week. The entire 54-strong individual field receives prize money

Norman also acknowledged disappointments.

“We’re failing because we can’t get a network (TV) deal,” says Norman. “This creates uncertainty in the market. (Many companies say) Let’s see what happens. This flows into the sponsorship. We have a tremendous number of large companies talking to us that would be very interested in getting involved.

“Here, too, the question arises: What will happen to the deal? Whether it happens or not will calm the market. When we know what is going to happen and the market knows how to handle the situation. But the headwind also remains from a scheduling and venue perspective.”

During LIV’s first year in 2022, events were available via streaming on YouTube and the website. In 2023, LIV signed a presumed two-year deal with the CW Network for weekend-only broadcasts, delayed to tape during the league’s overseas stays.

But the events were available live on a CW app as well as LIV’s own app, which introduced numerous bells and whistles to see every shot and every player.

LIV has not said whether the CW will be renewed or whether another provider will be involved in 2025.

“I am extremely proud of everything I have done representing LIV and also advocating for LIV,” says Norman. “It wasn’t easy, was it? You can’t run through a wall without getting bloody. When I took the job I knew to some extent what it would be.

“(But) I didn’t expect the hostility, the hatred, the contempt, whatever was thrown at us. I said to take the right path and stay true to yourself. Our discussions have been going on for five years, so you’re not thinking about hitting the wall. It hurts. But once you do it, you can see where we’re going.”

The Sports Business Journal The report on Norman’s future cited several people the PIF had interviewed in recent months and also suggested that Norman could remain with the organization in some capacity, even as commissioner, if a new CEO was hired.