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RetourLIV Golf Seeks Payment Extension for Adelaide Event, Casting Doubt on 2027 Schedule
LIV Golf Seeks Payment Extension for Adelaide Event, Casting Doubt on 2027 Schedule
Sport
ABC Businessil y a 3 heuresSport3 min de lectureAustralia

LIV Golf Seeks Payment Extension for Adelaide Event, Casting Doubt on 2027 Schedule

Future of LIV Golf Adelaide in Jeopardy Amid Financial Struggles and Funding Withdrawal

L'essentiel

LIV Golf's request for a $500,000 payment extension to Kooyonga Golf Club raises concerns over the 2027 Adelaide event's viability, amidst the tour's financial struggles and Saudi PIF's withdrawal of billions in funding by 2026.

Résumé généré par IA

Pourquoi c'est important

LIV Golf faces financial challenges after Saudi PIF announced the end of its funding by 2026.

Taille de police

The financially struggling LIV Golf tour has asked for an extension on a payment to Kooyonga Golf Club, raising doubts over whether next year's Adelaide event will go ahead. Kooyonga in Adelaide's western suburbs is scheduled to host LIV Golf Adelaide in 2027 before the tour moves to a newly redeveloped North Adelaide Golf Course in 2028. But the future of the league has been under a cloud since Saudi Arabia's Public Investment Fund (PIF) announced it would be pulling its reported billions in funding at the end of the 2026 season. South Australian Premier Peter Malinauskas said he was made aware last week that LIV Golf had asked for an extension on a payment to Kooyonga Golf Club. "That extension was granted." Mr Malinauskas indicated there would "presumably" be enough time for Kooyonga to prepare for the March 2027 event, given the club had granted the payment extension. The deferred payment is worth $500,000, Adelaide radio station FIVEaa reported. In a statement, Kooyonga Golf Club confirmed it "evaluated and approved" a "short operational extension regarding its initial venue payment" to LIV Golf. Deputy Liberal leader Josh Teague said the government needed to be more transparent about the event's future. "Those who've bought tickets, those who are committing all sorts of other ways to the holding of the event are going to be left mightily disappointed … if all of a sudden LIV Golf goes from hero to zero," he said. "That's unfortunately where we stand right now." The ABC has contacted LIV Golf for comment. The premier has previously said the state government would need a "clear indication" from LIV Golf about the event's future by October. The state government has a contract with LIV Golf until 2031 and pays an undisclosed fee for the tour to host an annual event in Adelaide. LIV Golf's success at the Grange Golf Club was also the catalyst for the government to fund a controversial $45 million redevelopment of the North Adelaide Golf Course. The project has been subject to protests over the felling of 585 trees. The government has since secured the Australian Open golf tournament to be hosted at the North Adelaide Golf Course from 2028 to 2034.

À surveiller

Perspective IA — des possibilités, pas des certitudes

  • LIV Golf will announce alternative funding or restructuring plans within the next 6 months.

    Probable · En quelques mois

Questions ouvertes

  • Will LIV Golf secure alternative funding?
  • What are the full terms of the South Australian Government's contract with LIV Golf?

Sujets liés

This article was originally published by ABC Business.

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