[Golf Topic] Saudi Capital "Invests 234 Billion Won in Asian Tour~"

[Asia Economy Reporter No Woo-rae] ○…Saudi Arabian capital is investing $200 million (234 billion won) in the Asian Tour.

The Asian Tour announced on the 30th (Korean time) that "LIV Golf Investments, led by Greg Norman (Australia), will invest $200 million," and "10 new tournaments will be established over the next 10 years." LIV Golf Investments is a company whose major shareholder is the Saudi Arabian sovereign wealth fund (PIF). The consortium led by PIF has recently been actively investing in sports, including acquiring the English professional football club Newcastle United for ?305 million (495 billion won).

The new tournaments of the Asian Tour will be held in the Middle East as well as in Asia and Europe. In the 2022 season, 25 tournaments will be held. Norman, who has won 20 PGA Tour events including two majors, said, "This is just the beginning," and "LIV Golf Investments will continue to invest in creating new opportunities." The Saudi International, which was held on the European Tour from 2019 to this year, will be held on the Asian Tour next year.