"Profitability isn't easy, even in a sport as lucrative as golf; the only one, along with soccer, that can be considered an industry in Spain. The Spanish Open lost its main sponsor, Acciona, this year, and the offers on the table to replace it haven't convinced Gerard Tsobanian, the CEO of the company that organizes both the Open and the Madrid Masters tennis tournament."
"Not even a bottomless pit like LIV, the Saudi league, can escape the balance sheets. In its case, it is precisely wasteful spending on contracts and prizes that has condemned the breakaway circuit, a challenger to the hegemony of the PGA Tour, to the red. According to The Athletic, LIV Golf Ltd., the UK company that manages the league's tournaments outside the United States, lost $615 million in 2024."
Spanish professional golf faces profitability challenges as the Spanish Open lost its main sponsor Acciona and replacement offers failed to satisfy organizers. Organizers face the challenge of balancing attraction of top players with financial sustainability because of the high costs required to secure stars. LIV Golf has accumulated escalating losses from oversized player contracts and large tournament purses, reporting a $615 million loss in 2024 and over $1.46 billion since 2022. Television rights outside the United States generated only $3.2 million last season versus the PGA Tour's $700 million domestic revenue, and audience levels remain weak.
Read at english.elpais.com
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