A few weeks ago, the PGA Tour made a deal with the Saudi Arabian Private Investment Fund (PIF). Now that the PGA Tour will be taking money from the same people who fund LIV Golf, questions have arisen as to whether or not the LIV Golf teams may now be more attractive to sponsors.
This week, one of the LIV Golf teams has secured its first global sponsorship. The company OKX, which is a Crypto currency exchange, has invested in Majesticks GC. The team has European stars Ian Poulter, Henrik Stenson and Lee Westwood.
It’s unclear if this is a signal that more companies are open to dealing with LIV teams after the PGA Tour/LIV Golf deal was announced, or if this was a sponsorship they’d have acquired anyway. The team will now wear OKX logos on their shirts and the deal is through 2024.
OKX Chief Marketing Officer Haider Rafique released a statement on the deal. “Golf captivates people around the world, however, its reach can be magnified if we dare to think big about fan engagement, inclusivity and truly unique partnership activations that use Web3 to amaze and inspire. This is what we’re shooting for with Majesticks GC, a top-tier team in the LIV Golf League that exemplifies our values and ambitions. We look forward to working with Majesticks on some very exciting things in the near future which will showcase our strengths.”
OKX is the second largest crypto exchange by trading volume and a leading Web3 technology company.