From LIV Golf to the XFL: Five of sport's most spectacular failures

The saga of unsuccessful sports ventures continues as LIV Golf faces liquidation, having squandered an estimated $5 billion in its bid to disrupt the global golf market. This financial debacle joins a growing list of failed sports initiatives.

The European Super League (ESL) also joins the list of spectacular failures, collapsing within 48 hours of its announcement in April 2021. Powerful football clubs sought to create a closed continental tournament, but the plan was met with widespread backlash from fans, players, and governing bodies. Six English clubs, including Manchester United, Liverpool, and Manchester City, abandoned the project shortly after its launch.

The XFL, a wrestling-themed American football league founded by WWE founder Vince McMahon, also met a premature end. Launched in 2001, the XFL boasted gimmicks such as wrestler names on shirts and a violent scramble instead of a coin toss. However, the league's shortcomings, poor ratings, and financial struggles forced it to fold after just one season, costing investors an estimated $70 million.

The International Premier Tennis League (IPTL), founded in 2014, aimed to transform tennis into a team-based competition. Featuring some of the sport's biggest names, the IPTL introduced shorter sets, shot clocks, and live music. Despite the involvement of legends like Roger Federer and Serena Williams, the league failed due to poor attendance and funding issues. The IPTL was cancelled in 2016, leaving millions of dollars owed to players and suppliers.

Finally, the Stanford Super Series, a T20 cricket tournament backed by Texan billionaire Allen Stanford, turned out to be a farce. Stanford's grandiose plan included a $20 million prize for the winner of a match between England and a Caribbean team. The tournament never gained traction, as Stanford was later accused of an $8 billion investment fraud. The ECB terminated all ties with Stanford, and the venture was ultimately abandoned.