From LIV Golf to the XFL: Five of sport's most spectacular failures
The least surprising news of the week arrived on Friday when it was confirmed that LIV Golf is facing liquidation. The writing was on the wall for the disruptor competition once Saudi Arabia pulled its funding in April. LIV ended up being a financial black hole, estimated to have squandered in the region of $5 billion through its failed attempt to take over world golf. At least in the sheer scale…
Five high-profile sports ventures have faced catastrophic failures in recent years. LIV Golf, a 2022 Saudi-funded attempt to disrupt the sport, squandered an estimated $5 billion. Its poorly received ideas, such as night golf, were unable to lure top players like Rory McIlroy and Tiger Woods. The European Super League (ESL), a 2021 bid by wealthy football clubs to create a closed continental tournament, collapsed after 48 hours due to widespread public outrage.
The XFL, a 2001 WWE-backed merger of wrestling and American football, lasted only one season and left WWE founder Vince McMahon with a $70 million loss. The International Premier Tennis League (IPTL), a 2014 attempt to bring team-based tennis to Asia, struggled with poor attendance and funding issues, leading to its cancellation in 2016.
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