LIV Golf has announced its first tournament sponsor.
In a press release the Saudi-backed circuit wrote that Resorts World Sentosa, a hotel company based in Asia, is signing on to back the LIV Golf Singapore event. The Singapore stop is the fifth competition on LIV’s 14-tournament schedule and will be held in late April.
The news comes two weeks after the fledgling organization signed on EasyPost, a logistical and commerce company, to be the league’s global partner. EasyPost already had a presence in LIV Golf, as the firm is a sponsor of Patrick Reed.
The moves are steps in the right direction for LIV Golf, which lacked any formal sponsorship during its inaugural year while spending $784 million to launch the league. LIV Golf officials have touted the team franchise component of the league as a primary facilitator for future sponsorships and revenue. Twelve teams are competing in a 14-event schedule in 2023, and the captains—which include Dustin Johnson, Phil Mickelson, Bryson DeChambeau, Brooks Koepka and Cam Smith among others—have as much as a 25-percent equity stake in their teams. The plan for 2023 is that each team covers its own operating costs, using sponsorships, team prize money and merchandise to do so.
As of writing, no club has received financial backing of a sponsor or owner outside of the league deals with EasyPost and Resorts World Sentosa.
Earlier in the year, LIV Golf announced it had secured a U.S. broadcast deal with The CW Network, although the CW is not paying any rights fees to LIV. Instead the two entities will do a revenue split on advertising, sources tell Golf Digest. Only Saturday and Sunday rounds will be broadcast on linear television, and those events outside the United States will air on tape delay.
LIV Golf’s second event of 2023 will take place in two weeks in Tucson. Charles Howell III and the Crushers team won the season opener at Mayakoba in February.