A Week of Contrasts in Global Sport
The past seven days offered a study in opposites. On one side, tradition and excellence shone at the Masters, while a Deloitte analysis highlighted the rapid rise of women’s sport worldwide. On the other, the controversial LIV Golf circuit faced mounting questions about its financial sustainability and the motives of its Saudi backers.
The Masters Endures, Women’s Sport Gains Momentum
Masters Viewership Reaches an Eleven‑Year High
CBS reported that the final round of the 2024 Masters attracted an average of 14 million viewers, the highest figure for any round in the last eleven years. Peak viewership surpassed 20 million on Sunday, marking an 8 % increase over the 2023 broadcast 1. The sustained interest underscores the tournament’s ability to draw a broad audience despite the evolving media landscape.
Women’s Sport Poised for Significant Growth
Deloitte’s “Game Changers: Unlocking the Potential of Women’s Sports” report projects that the global elite women’s sports market will reach at least $3 billion by 2026, up from $2.4 billion in 2025. This represents a 248 % increase from 2022 to 2025, or an expected 340 % rise from 2022 to 2026 2. Commercial revenue drove much of this growth in 2025, accounting for 46 % of total income, with football contributing 37 % and basketball 32 % of the commercial share 2.
LIV Golf Faces Financial and Reputational Headwinds
Funding Concerns Surface Again
LIV Golf’s CEO issued a reassuring statement about the league’s future, yet industry observers remain skeptical. Reports indicate that Saudi Arabia’s Public Investment Fund (PIF) is uneasy about the billions of dollars the series continues to consume. As of 2021, LIV Golf had already expended roughly $5 billion 3. The PIF’s latest five‑year economic strategy emphasizes “sustainable investment” and return on capital, a stance that contrasts with the free‑spending, disruptive approach that characterized LIV’s early years 4.
Sport Missing from PIF Priorities
The Guardian noted that sport was omitted from the seven key investment areas outlined in the PIF board’s recent document, which was signed by Crown Prince Mohammed bin Salman 5. This omission has fueled speculation that the kingdom may be reassessing the strategic value of its sports‑related ventures, including LIV Golf.
Player Reactions and Market Perception
High‑profile figures have voiced mixed sentiments. Cristiano Ronaldo criticized the Saudi Pro League’s ambitions earlier in the year, while Bryson DeChambeau’s emotional reaction after his South African win prompted questions about his long‑term commitment to the circuit. Meanwhile, Rory McIlroy’s Masters victory added to his legacy of six major championships, yet he remains behind Jon Rahm in annual earnings. Sportico data shows Rahm earned $102 million over the past 12 months, the majority stemming from his LIV contract, whereas McIlroy’s $84 million total included $55 million from off‑course activities 6.
Marketability and Media Impact
Golfer Marketability Rankings
Despite his on‑course success, McIlroy ranked 62nd on SportsPro’s list of the most marketable golfers released late last year, trailing behind 18‑year‑old Algerian gymnast Kaylia Nemour, who was classified as a “rising star.” McIlroy’s designation as a “consistent achiever” illustrates how marketability metrics can diverge from competitive achievement 7.
Broadcast Reach of the Masters
The Masters’ strong television performance highlights the continued relevance of major golf events in the sports media ecosystem. The 14 million average audience and 20 million peak figure not only exceeded the previous year’s numbers but also demonstrated resilience amid shifting viewer habits 1.
Looking Ahead
The juxtaposition of a thriving Masters, a rapidly expanding women’s sports market, and a LIV Golf circuit under financial scrutiny paints a complex picture of contemporary sport. Stakeholders will need to balance short‑term financial pressures with long‑term brand building and athlete welfare. As the PIF refines its investment focus and LIV Golf navigates its next funding round, the coming months will reveal whether the league can adapt to a more sustainable model or whether it will remain a contentious experiment in sports financing.
1 CBS Sports, “Masters 2024 Viewership Up 8% Year‑over‑Year,” April 2024.
2 Deloitte Global, “Game Changers: Unlocking the Potential of Women’s Sports,” 2024.
3 The New York Times, “LIV Golf’s Costs Top $5 Billion,” March 2024.
4 The Guardian, “PIF’s New Strategy Shifts Focus Away from LIV Golf,” April 2024.
5 The Guardian, “Sport Absent from PIF’s Seven‑Point Investment Plan,” April 2024.
6 Sportico, “Golfer Earnings 2023‑2024,” accessed April 2024.
7 SportsPro, “Most Marketable Golfers 2023,” December 2023.
