Articles by EssentiallySports,Navya Mishra

Technology

Greg Norman’s Demand for Praise Triggers Backlash as LIV Golf’s $5B Crisis Deepens

So, of course, if Norman, despite such heavy losses incurred during his tenure, will turn a blind eye and celebrate his time with the league as “draining” but “necessary,” critics will speak. “…That to me was part of the job – I had to do it, right?” Norman noted. Greg credited himself for the assimilation of Strategic Sports Group, partnering with the PGA Tour. “They started to see that what LIV did – bring private equity into the game of golf for the first time in 53 years – was a positive,” Greg told Australian Golf Digest. LIV’s business model has always leaned on Saudi Arabia’s Public Investment Fund (PIF), a sovereign wealth fund worth nearly $1 trillion. The filing confirmed that PIF had issued a “letter of support,” assuring that LIV has “sufficient financial resources to meet its liabilities.” In simpler terms: the PIF bankrolls everything, and without its funding, LIV wouldn’t survive another season. Yet it is for certain reasons incurring all those heavy losses. Well, the answer is clear: the structure is costly by design. The reason for LIV’s financial downward spiral LIV stages 14 tournaments per season, seven of which take place outside the US, with $20 million prize purses per event, which has now ballooned to $1.34 billion. And then it is not hidden how much it paid stars to lure them away from the PGA Tour. Jon Rahm, who led his Legion XIII team to the top spot this year, has already earned $75 million in prize money alone — excluding his signing deal (which was reportedly around $300 million). Needless to say, it is reconsidering such offers. Then comes the broadcast rights. As innovative as it claimed to be during its formative years, LIV has consistently failed to generate a stable audience for itself. Its overseas TV deal brings in only $3.2 million annually. To put into perspective, the PGA Tour’s domestic media generates approximately $680 million per year, a 70% increase from its previous deal. Meanwhile, its 2026 schedule is reportedly set for 14 events, but only 11 have been confirmed, with just three taking place in the US. The rest depend on venue partnerships, many of which LIV has tried to secure from the DP World Tour, occasionally stirring friction in the process—it wants to partner up with them. All this is happening when a deal with the PGA Tour remains in the fray. Despite several attempts— more from LIV’s side—no end to the year-long saga is in sight. Things seemed to ruffle when Jay Monahan was in the discussion. But now that Brian Rolapp took over the reins for the Tour, he seems focused on other discrepancies rather than a merger. Yet, critics like Eamon Lynch think a potential partnership could only be the solution. “The sole face-saving hope that exists for LIV is a deal with the PGA Tour…The pressure must be mounting on LIV’s only benefactor, Yasir Al-Rumayyan.” Notably, Yasir Al-Rumayyan was seen with Donald Trump recently, fueling rumors that an update regarding the merger is near. Four seasons in, LIV’s ambition remains clear but unsustainable. Norman, however, seems unfazed. “If you’re going to make meaningful change, running through a brick wall without getting bloody, that’s not going to happen,” he said. But as Lynch notes, the question is whether he ran through it—or straight into it.

Technology

Jack Nicklaus Confronts Ex-Partner Howard Milstein in Court as Decades-Old Feud Reaches Boiling Point

For Nicklaus, these allegations are only the latest twist in a partnership gone sour. Tracing its roots to 2007, the golfer inarguably dug his own grave when he agreed to merge his Golden Bear International with the newly formed Nicklaus Companies. Howard Milstein was the messiah who entered the scene ready to finance the $145 million deal through his Emigrant Bank, New York’s oldest. Who knew this was a move Jack Nicklaus would come to regret all his life? When the dynamics changed between Jack Nicklaus and Howard The partnership quickly became lopsided. Initially, a 51 to 49 percent share (the golfer taking the larger one), things took a turn when Andrew O’Brien was installed as the president by Milstein. Publicly, the duo called themselves Nicklaus’s partners, even crediting Milstein for saving and doubling the company’s value. The dynamics of the business changed, as the legendary golfer with 18 major wins to his name found his role being reduced to what he once called a “disrespected employee.” With several blows to his reputation, Nicklaus finally left the company in 2017. Milstein and co. could not bear such an ouster, and they triggered a five-year noncompete clause that barred Nicklaus from designing golf courses or endorsing the products outside the company. What was worse was that they held all the rights to Nicklaus’s name, image, and likeness. As Nicklaus eventually sought the legal clarity to retain his name in 2022, Nicklaus Companies, the same year, sued the golfer in New York, alleging that he breached his agreements and pursued a leadership role with LIV Golf—a claim that was later dropped. As per reports, Nicklaus had indeed met with representatives from Golf Saudi. But that was mainly for discussing potential golf course designs, rather than him assuming any leadership role. Initially, there were also reports, which Nicklaus admitted himself, that he was offered $100 million for a “job probably similar to the one Greg [Norman] is doing.” But he rejected the offer twice without hesitation. “I turned it down. Once verbally, once in writing…I said, ‘Guys, I have to stay with the PGA Tour. I helped start the PGA Tour.'” Still, the ripple effect of the accusation was major. Nicklaus’ lawyers claimed it caused the golfer “global reputational damage.” Meanwhile, Milstein’s team denied all these allegations, arguing the lawsuit was “one of the deadest times in terms of trying to get publicity.” “The company really was trying to get through a messy situation without engendering much publicity,” Gary Malone said. As the trial unfolds, several long-buried truths are set to come to light. At an age when most people enjoy peace and retirement, one decision Jack Nicklaus made decades ago has become a hurdle in his later life.