{"id":201925,"date":"2025-10-10T02:57:08","date_gmt":"2025-10-10T02:57:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/201925\/"},"modified":"2025-10-10T02:57:08","modified_gmt":"2025-10-10T02:57:08","slug":"adelaides-new-liv-golf-host-flagged-as-companys-financial-woes-revealed-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/201925\/","title":{"rendered":"Adelaide’s new LIV golf host flagged as company’s financial woes revealed – News"},"content":{"rendered":"

Kooyonga Golf Club in Lockleys will host the 2027 edition of the Saudi-backed LIV Golf sporting event<\/a>, before making the switch to North Adelaide, Premier Peter Malinauskas announced today.<\/p>\n

The announcement followed a letter sent earlier this year to Grange Golf Club members saying its organisation wanted greater financial benefit from LIV to make hosting the event for a fifth consecutive year worth its while.<\/p>\n

A letter sent to Grange members dated June 27, 2025, said the club had been approached by LIV to extend its contract, but that a decision was subject to a member vote and a \u201csignificant capital contribution\u201d to offset course disruption.<\/p>\n

Grange will host the 2026 edition of the tournament from February 13 to February 15 before the event moves to Lockleys in 2027 \u2013 and it was then expected to be in North Adelaide from 2028.<\/p>\n

The Premier said securing the Kooyonga venue will \u201ccontinue momentum\u201d after LIV Golf Adelaide has brought in $217 million in economic benefit in its first three years.<\/p>\n

\u201cSecuring Kooyonga Golf Club as the next host venue continues that momentum, bringing visitors, jobs and investment into our economy while showcasing Adelaide to viewers across Australia and around the world,\u201d he said.<\/p>\n

\u201cAustralians have embraced LIV Golf, and our partnership with LIV Golf through to at least 2031 means we\u2019ll continue to see the benefits of that success flow through to our tourism sector, our hospitality industry and our broader economy.<\/p>\n

\u201cImportantly, we also have an incredible 2026 tournament to look forward to at the Grange Golf Club, which has been a fantastic venue for LIV Golf\u2019s first few years, and tickets are selling fast.\u201d<\/p>\n

LIV Golf Executive Vice President, head of events, Ross Hallett said the organisation is excited about partnering with Kooyonga Golf Club and is \u201cincredibly appreciative of the continued support of The Grange Golf Club, a tremendous host since the event\u2019s inception in 2023\u201d.<\/p>\n

The announcement comes after financial papers filed in the United Kingdom revealed LIV Golf Ltd made a US$462 ($AUD704) total loss for the year ending December 31, 2024 \u2013 up from a $US396 ($AU604) loss in 2023.<\/p>\n

Australia propped up LIV\u2019s revenue in 2024, bringing in about $US26 million for the company, followed by $10 million from Hong Kong.<\/p>\n

Adelaide was the only LIV event in the country in 2024 and its whopping contribution leads the nine geographic areas LIV operated in, according to the financial report.<\/p>\n

Opposition leader Vincent Tarzia said given LIV\u2019s finances, the government must reveal its dealings with the company to taxpayers, and whether it would push ahead with its plans to develop the North Adelaide Course.<\/p>\n

\u201cThe company is reportedly haemorrhaging, losing hundreds of millions of dollars a year,\u201d Tarzia said.<\/p>\n

\u201cWhy is the government even contemplating spending tens of millions of dollars on a project for a company in such a parlous financial state?\u201d<\/p>\n

Cost of the North Adelaide redevelopment has not been revealed, but former treasurer Stephen Mullighan previously said the figure would be in the mid-year budget review due in December.<\/p>\n

Malinauskas said in June that he believed the government could complete the work for under $50 million.<\/p>\n

Kooyonga Golf Club Captain Geoff Brennan said the 2027 event \u201cwill create lifelong memories for not just our members but for golf fans globally\u201d.<\/p>\n

\u201c\u201dLIV Golf Adelaide provides us with the rare opportunity to watch world class players compete on our course in the league\u2019s dynamic tournament format and to have our course showcased on the international stage,\u201d he said.<\/p>\n

Kooyonga course has hosted multiple Australian Opens and state championships, hosting golfers including Arnold Palmer, Jack Nicklaus and the recently departed LIV figurehead Greg Norman<\/a>.<\/p>\n

Norman is on the hook to design the North Adelaide Golf Course, which is expected to host LIV from 2028 \u2013 though no plans for the new design<\/a> have been revealed.<\/p>\n

The state government passed special legislation in June to take control of the golf course \u2013 cementing their development legacy with the biggest park lands grab since 1837<\/a>.<\/p>\n

Independent candidate for Adelaide Keiran Snape \u2013 also current Deputy Lord Mayor<\/a> \u2013 has been a long-time critic of the sporting event, but said today\u2019s announcement showed there were plenty of worthy hosts outside of North Adelaide.<\/p>\n

\u201cToday\u2019s announcement reinforces the fact that alternative locations including Kooyonga are available and ready to go,\u201d Snape said.<\/p>\n

\u201cIf the government insists on keeping the fossil fuel-sponsored LIV Golf tournament here in SA, I urge them to keep it at Kooyonga rather than tear up vast swathes of our world-renowned park lands.<\/p>\n

\u201cIs one weekend of golf for the next couple of years worth the destruction of thousands of mature trees, especially as we navigate the current climate crisis and the resulting algal bloom?\u201d<\/p>\n

InDaily contacted Grange Golf Club for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"Kooyonga Golf Club in Lockleys will host the 2027 edition of the Saudi-backed LIV Golf sporting event, before…\n","protected":false},"author":2,"featured_media":201926,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[566],"tags":[64,63,755,85],"class_list":{"0":"post-201925","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-golf","8":"tag-au","9":"tag-australia","10":"tag-golf","11":"tag-sports"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/201925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=201925"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/201925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/201926"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=201925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=201925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=201925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}