Asian Tour to add 10 new events following Saudi-led investment

Tuesday, 2 November 2021 02:04 - - {{hitsCtrl.values.hits}}

REUTERS: The Asian Tour is set for a major overhaul with the introduction of 10 new marquee events following its partnership with the newly formed LIV Golf Investments, a company backed by Saudi Arabia’s Public Investment Fund (PIF).

PIF led the consortium that acquired Premier League club Newcastle United earlier this month.

The events will be played across Asia, the Middle East and Europe and will join established Asian Tour tournaments to comprise a 25-event season from 2022.

The Asian Tour said that LIV Golf Investments had pledged a total of $ 200 million to support playing opportunities and for prize funds over the next decade. Australia’s ex-world number one Greg Norman, who has been named CEO by the company, said: “This is only the beginning. LIV Golf Investments has secured a major capital commitment that will be used to create additive new opportunities.“I have been a staunch believer in playing and developing golf in Asia for more than four decades. The Asian Tour is a sleeping giant, and we share ambition to grow the series and unlock what we believe is significant untapped potential.”