SA government backed a risky horse in LIV Golf — lucky it hedged its bets
The catalyst for the Malinauskas government's $45 million upgrade of the North Adelaide Golf Course has filed for bankruptcy. But the story could have been far worse.
The Malinauskas government's gamble on LIV Golf reaped rewards as the breakaway tour filed for bankruptcy. Securing hosting rights to the Australian Open in 2028 helped mitigate the financial risks of upgrading a golf course for $45 million. LIV Golf, led by CEO Scott O Neil, aimed to transition to a player-first ownership model while exiting bankruptcy by early 2027.
However, the tour still owes significant sums to creditors, including top players Jon Rahm, Bryson DeChambeau, and Cameron Smith. Premier Peter Malinauskas's investment in the North Adelaide Golf Course extension was justified by its future use for major events, including the Australian Open, despite opposition from parklands advocates and the Greens.
Written by urgent.news from ABC News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
