99. Greg Norman Takes On the P.G.A. Tour

People I (Mostly) Admire

Freakonomics Radio + Stitcher

Society & Culture

4.6 • 1.9K Ratings

🗓️ 18 February 2023

⏱️ 48 minutes

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Summary

Since his last visit to "People I (Mostly) Admire," the formerly top-ranked golfer has become the sport's most controversial figure. Why has he partnered with the Saudi government — and can his new golf league unseat a monopoly?

Transcript

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0:00.0	My guest today, Greg Norman, makes a second visit to the show.
0:08.0	He was the number one rank golfer in the world for over six years, and he's also been
0:12.2	extremely successful in business.
0:14.4	He's designed over 100 golf courses, and he's built a global clothing brand and wine
0:18.4	business.
0:19.4	But it's his role as CEO and commissioner of the Renegade Live Golf Tour that has made
0:23.9	him perhaps the most controversial figure in the history of golf.
0:29.3	Some of my dear friends don't even speak to me, because of this, that's their choice.
0:34.0	If you don't want to talk to me again, happy days!
0:38.5	Welcome to People I Mostly Admire, with Steve Levitt.
0:45.2	The Live Golf Tour is viewed by many as an existential threat to golf.
0:49.7	If you're not a golf fan, it's probably hard to understand why everyone is so upset,
0:54.6	but trust me, emotions are running extremely high.
0:58.2	While there's been immense coverage of the controversy, there has been remarkably little
1:02.0	discussion of the economics of the situation.
1:05.2	Should we think of the existing PGA Tour as a monopoly?
1:08.6	Is there a reason to think that competition is beneficial in this setting or destructive?
1:13.8	Live Golf has been throwing around enormous amounts of money.
1:16.6	Is that actually consistent with its stated goal being profitable?
1:20.6	Those are the kinds of questions I want to talk about today with Greg Norman.
1:28.6	Greg, what a pleasure to get to talk again.
1:31.0	We'd last spoke a couple of years ago, and at that time,
	...

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