The announcement of the mega contract signed by the Spanish golfer Jon Rahm to join the LIV Circuit what the Saudis manage is not just an “earthquake” for their sport. Becoming the largest contract ever signed by an athlete globally -and we are talking about figures that not even footballers, American football players, basketball players or boxers reach- implies that the big business of sport is entering a new and unpredictable dimension.
The Saudi Arabian Public Investment Fund manages assets for 620 billion dollars and has been carrying out, for several years, various movements to monopolize the biggest sporting events (they rival the sheikhs of Qatar in this sense). They’ve already taken it formula racing 1 and the main competitions tennisthey also invest in their internal football competition by taking stars – in their twilight – as Cristiano Ronaldo or Karim Benzema.
But golf is different: they put together its own international circuit, which rivals the traditional US-based PGA Tour. As CEO of that company they put a legend, the Australian Greg Norman, and have signed several top players such as Spaniard Sergio García and Americans Dustin Johnson and Phil Mickelson. To tempt Rahm they offered him this impressive sum: 500 million dollars. In less than two years, LIV Golf has already signed thirteen people who have achieved Grand Slam titles and, among these, five who have reached number 1 in the world ranking.
Rahm was the winner of the legendary Masters of Augsburgwhere was his prize “just” 3.24 million dollars.
One of the innovations that the LIV Tour applies is that each participant, for their single presentation, is guaranteed 120 thousand dollars. The 2024 calendar will cover 12 legs starting February 2 with the tournament in Playa del Carmen (Mexico) and will feature 5 legs across the United States, as well as other events in Australia, Spain, Singapore and Great Britain.
Initially the organizers of the American PGA Tour brought their new “rival” to the courts. But now they are reportedly negotiating for the Saudis to do so too become a partner of the traditional circuit. “We cannot compete with a government with limited money” said PGA Commissioner Jay Monahan.
Previously, stars such as Tiger Woods and Irishman Rory McIlroy They opposed playing for the Saudi circuitalthough equally impressive offers have arrived.
“The truth is, I could retire now and I could have a very happy life without playing anymore. I have never played golf for financial reasons. I play for the love of this sport and I want to play against the best in the world. “I’ve always been interested in the history and legacy of golf and right now the PGA Tour has that,” Rahm said a couple of years ago.
But 500 million… they were too much, they made it change. “Money matters, I don’t deny it, but it’s not the only reason,” she said as soon as her entry into the Saudi circuit was announced. And she began to explain: “I will have the opportunity to make golf greater by playing in countries I have never been to… I understand that there are people who are not very happy, but my work ethic does not change. “I want to keep chasing things and always feel like I’m creating history.”
Also Rahm, born 29 years ago in Barrica (Basque Country). will be able to continue to participate in the Augusta Masters and the U.S. Open, among other traditional circuit events.
The entry of Saudi investors, exploited by their petrodollars, to the highest levels of golf had already begun to shift the entire sporting landscape. According to the latest Forbes ranking of the highest paid athletes in the world, between May 2022 and May 2023 there were two golfers, thanks to their earnings, on the Saudi circuit: Dustin Johnson, with 107 million dollars and Phil Mickelson, with 106 million dollars. . . They appeared 6th and 7th respectively.
At the top of the list were the most important footballers in the world: Cristiano Ronaldo with 136 million dollars (of which 75 million correspond to the contract with the Saudis), Leo Messi with 130 million dollars and Kylian Mbappé with 120 million dollars. Basketball player LeBron James is fourth with $119.5 million, ahead of boxer Canelo Álvarez ($117 million).
Probably Mess’s big movei with post-World Cup contracts and entry into the American championship move those numbers. But Rahm surpasses everything known, including the highest income by an athlete in a single season, according to Forbes: the boxer Floyd Mayweatherwho pocketed $285 million after his fight against Conor McGregor in 2017.
At the same time, both the Rahm issue and the big move around the emergence of Messi in the United States and the brand new contract signed by the baseball star, Shohei Othtani, last weekend, indicate that elite sport is moving towards stratospheric numbers.
Othani, nicknamed “The Unicorn,” emerged as Japan’s baseball phenom and from there leapt to the United States six years ago. Now he just signed a 10-year contract with the Los Angeles Dodgers to… 700 million dollars. The previous record was set by Mike Trout, for the same franchise, for 426 million in twelve years, again for the Dodgers.
Source: Clarin
