Greg Norman’s firm in US$200m pledge to Asian Tour over 10 years in one of single biggest investments in pro golf history
- New series will add 10 tournaments to Asian Tour, boosting prize money, luring big-name players and growing game in region
- Hong Kong Open is part of the Asian Tour but city’s involvement in the new series is uncertain
Australia’s flamboyant two-time major champion Greg Norman is at the forefront of one of the biggest investments in pro golf history that would raise the stature of the Asian Tour, which includes the Hong Kong Open as one of its most popular events.
Former world No 1 and twice Hong Kong Open winner Norman was on Friday unveiled as the CEO of LIV Golf Investments, a new company formed to explore global golfing opportunities.
Norman’s first official announcement was a US$200 million commitment for a groundbreaking series of 10 new marquee tournaments to be staged annually on the Asian Tour over the next 10 years. The investment comes as the Asian Tour looks to recover from the Covid-19 battering that resulted in a failure to complete their 2020-21 season.
“The Covid pandemic stopped play so dramatically in March last year, and despite all our best efforts we were unable to resume,” Asian Tour commissioner and CEO Cho Minn Thant told the Post. “The fact that we cross more international boundaries than any other Tour has made the task that much harder.
“It has been a very difficult and frustrating time, but we have been working hard to find a way back. None of us have ever experienced anything like this before, and hopefully we never will again. So, it is a huge relief that we are able start again and finish our 2020-21 season, before moving on to what looks like being the biggest season in our history.”