What happens when a billion-dollar golf league’s ‘breakthrough’ TV deal actually makes things worse? Well, buckle up, because the answer is more painful than anyone expected.

The answer lies in a devastating revelation from Sports Business Journal’s Josh Carpenter during a recent 5 Clubs podcast appearance. His analysis cuts straight to the heart of LIV Golf’s Fox Sports partnership problems.

Carpenter delivered a harsh reality check about LIV’s celebrated Fox deal. He explained how the fragmented viewing experience across multiple networks actually hurts the league’s business model. “For Liv, for them to have the Fox outlet and for that as their distribution partner when it comes to television, their numbers are decidedly different when they get on big Fox,” Carpenter explained to the hosts.

The golf reporter highlighted a fundamental problem with viewer accessibility. “One day it’s on Fox, the next day for two hours it’s on FS1, for the next hour it’s on FS2. I think that’s hurt them a little bit just in terms of people being able to find it,” he noted. This fragmentation makes it nearly impossible for casual viewers to follow LIV coverage consistently.

Carpenter then delivered perhaps his most damning assessment of the situation. “I expected their ratings to be a little bit higher,” he admitted, despite acknowledging that expectations were already low going into the Fox partnership. This statement reveals how even modest hopes for improvement have been crushed by reality.

The numbers support Carpenter’s concerns completely. Fox broadcasts only 22% of LIV’s schedule on the main network. Meanwhile, the PGA Tour maintains predictable Sunday slots on CBS and NBC, creating viewer loyalty and habit formation.

Furthermore, Carpenter explained the distribution paradox that makes the Fox deal counterproductive. “Fox has a wide distribution, 120 million homes across the US. But then, when you look at FS1 and FS2, that distribution is cut substantially,” he observed. Previously, CW provided consistent broadcast access to 120 million homes for every LIV event.

The advertising market tells an even grimmer story. Industry sources reveal that LIV struggles to attract sufficient advertiser interest across these divided time slots. The scattered approach prevents advertisers from building consistent campaigns. Additionally, some tournaments sell advertising based on peak viewing hours. LIV’s early audience peaks, followed by steep drops, create serious problems for premium ad placements.

The financial structure exposes deeper issues with the Fox partnership. Sources describe Fox’s payment as a “modest” rights fee. This amount pales in comparison to the PGA Tour’s $700 million annual deal with CBS, NBC, and ESPN. More troubling, LIV continues paying all production costs while receiving minimal compensation.

Carpenter highlighted another crucial comparison that exposes LIV’s regression. “If you look at their media deal with the CW the prior two years, that’s a national network. That’s a broadcast network and 120 million homes. Every single live event was on CW last year,” he explained. This context makes the Fox fragmentation even more problematic.

The advertising economics become even more challenging when combined with poor viewership performance. The harsh reality of these fragmented viewing experiences has not gone unnoticed by golf fans, who have increasingly called the league a costly disappointment amid mounting evidence that the Fox partnership has failed to deliver the promised audience growth.

LIV Golf vs PGA Tour: The Broader Ratings Catastrophe

The viewing disparity between tours reveals the scope of LIV’s problems. Through seven head-to-head Sundays, the PGA Tour averages 3.1 million viewers on CBS and NBC. Meanwhile, LIV averages just 175,000 viewers across Fox networks. This creates an 18-to-1 advantage for the PGA Tour.

Even more concerning, LIV’s Fox debut drew smaller audiences than many CW broadcasts. The season opener in Riyadh attracted only 12,000 viewers for the first round. By comparison, the PGA Tour’s Phoenix Open averaged 2.874 million viewers. That represents a stunning 53-times difference in audience size.

These numbers create impossible advertising economics. Networks typically charge based on audience size and engagement. LIV’s small, divided audiences across multiple channels offer little value to major advertisers. Consequently, the league continues hemorrhaging money while failing to build a sustainable revenue model.

The Fox deal’s failure signals broader challenges for LIV’s business strategy. Scott O’Neil, LIV’s new CEO, claims global viewership of 2.5 million for their events. However, industry insiders dispute these figures. The focus remains on U.S. television ratings, where LIV continues struggling badly.

Golf’s future depends on resolving this division. Currently, both tours face declining engagement due to fan fatigue and confusion. LIV’s Fox experiment demonstrates that distribution deals alone cannot solve fundamental audience problems. Instead, the split approach may have made things worse by creating an even more confusing viewing experience for potential fans.