Report: LIV Golf generated ‘...

The Saudi Arabian Public Investment Fund has poured a large sum of money into LIV Golf. Now, with its second season only weeks away, it's evident how that investment has paid off thus far.

According to ESPN's Mark Schlabach, LIV Golf conceded in a court petition Monday that company made "essentially no income" in its first season. The petition was part of the company's ongoing legal battle with the PGA Tour. LIV Golf admitted in a court motion Monday that it had generated “virtually no revenue” in its inaugural season, according to ESPN’s Mark Schlabach. The filing was part of its ongoing lawsuit against the PGA Tour.

While that’s not too surprising considering LIV Golf is extremely new, it’s not great considering how much Saudi Arabia has already invested. The country’s Public Investment Fund spent about $784 million on the league in 2022, former president and CEO Atul Khosla told ESPN last year. That didn’t include the reported $100 million-plus signing bonuses to land top players like Dustin Johnson, Phil Mickelson and Bryson DeChambeau, among others.

LIV Golf is expanding its schedule in 2023, starting with its season opener in Mexico later this month. It also finally landed a television deal in the United States, with the CW Network, too. Yet spending around $1 billion and not getting anything back — even knowing how deep-pocketed the PIF is — can’t feel good.

The PGA Tour has filed a motion to add both the PIF and its governor as plaintiffs to its counterlawsuit against LIV Golf. The Tour will also meet with Judge Beth Labson Freeman later this month to discuss pushing back the Jan. 2024 trial date.

LIV Golf announces team captains, new names for 2023 season

Financial losses aside, LIV Golf announced its 12 team captains for the 2023 season Tuesday. The season will begin Feb. 24 at El Camaleon Golf Course in Riviera Maya, Mexico. That event will be the first of 14, concluding with the championship in Saudi Arabia in November.

The teams for 2023 are:

• RangeGoats GC | Bubba Watson

• Ripper GC | Cam Smith

• 4 Aces GC | Dustin Johnson

• Cleeks GC | Martin Kaymer

• Crushers GC | Bryson DeChambeau

• Fire Balls GC | Sergio Garcia

• Hy Flyers GC | Phil Mickelson

• Iron Heads GC | Kevin Na

• Majesticks GC | Ian Poulter and Henrik Stenson

• Smash GC | Brooks Koepka

• Stinger GC | Louis Oosthuizen

• Torque GC | Joaquin Niemann