LIV Golf is close to reaching an agreement with US cable television network Fox Sports 1 to buy airtime for its tournaments, Golfweek reported on Wednesday,
The new professional golf circuit funded by Saudi Arabia's sovereign wealth fund has operated without a television deal, instead broadcasting its events for free on YouTube and Facebook, despite an outlay. Initial over a billion dollars to steal some of the biggest names in the sport from the PGA Tour.
While most major sports organizations sell their broadcast rights as a block to media companies in exchange for substantial up-front fees, the reported deal will see LIV Golf pay for its airtime to recoup costs. Selling your commercial. sponsorships
Suppose LIV Golf's deal with Sports goes through. In that case, it will also be required to comply with US Federal Communications Commission (FCC) requirements enacted in March that need broadcasters to disclose when foreign governments or their representatives rent time on their airwaves.
A representative for LIV Golf described the Golfweek report as "incomplete and inaccurate" when contacted by The Guardian but declined to comment on the possible implications of FCC regulations, which require disclosure at the time of release.
A broadcast is if a foreign government entity paid for a radio or television service. Station, directly or indirectly, to aerate material.
We caution that no one should jump to conclusions about possible media rights as we are still in the midst of negotiations with various media outlets."
The executive questioned the perspective put forward by LIV Golf CEO Greg Norman, who recently told ESPN that he was talking to four different networks about traditional broadcast rights deals.
The potential Fox Sports deal represents a reversal of the standard model and is rare in today's sports television ecosystem, but it is not entirely without precedent.
In 2015, influential boxing manager Al Haymon, backed by more than $425 million in institutional capital, launched the Premier Boxing Champions series by paying $20 million to buy airtime for 20 shows on NBC and the NBC Sports Network.
The PBC deal, however, included joint investment from the NBC family in the form of shared production costs, on-air talent, and promotional assets.
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