Greg Norman says Asian Tour deal is just the beginning

SINGAPORE: Greg Norman said it was "only the beginning" as the former world number one golfer teamed up with the Asian Tour on Friday to launch 10 new events to take place every year over the next decade.

The partnership comes with financial backing from PIF, the Saudi sovereign wealth fund involved in the recent takeover of Newcastle United, and a commitment of more than $200 million, a statement released by the tour said.

The new events will be staged across Asia, the Middle East and Europe and the series will be added to the Asian Tour schedule starting next year, making for a 25-event season.

"This is only the beginning," said Norman, 66, a two-time major winner from Australia, as he was named chief executive of a newly formed company, LIV Golf Investments.

"LIV Golf Investments has secured a major capital commitment that will be used to create additive new opportunities across worldwide professional golf."

Norman called himself "a staunch supporter and believer in playing and developing golf in Asia".

The move comes as a major boost to the Asian Tour, which was halted in March last year when Covid-19 prompted lockdowns and border closures across the region. It is scheduled to resume next month.

Tour commissioner and chief executive Cho Minn Thant called the deal "the single-biggest development in the history of the Asian Tour and a major milestone for professional golf".

"The opportunity will secure unprecedented new playing opportunities, establish new player pathways, allow us to compete commercially with other sports and enhance our social agenda," he said.

The Asian Tour recently assimilated the big-money Saudi International as its flagship event after it was dropped by the European Tour.

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