Banking giant HSBC has expanded its already-significant presence in the golfing world by striking a commercial deal with the lucrative LIV Golf series.
Through a multi-year sponsorship agreement unveiled today (July 10), HSBC becomes the Saudi-backed series' first global banking partner, with the agreement covering all of the 14 events currently on the LIV season calendar.
The deal comes into effect in time for LIV Golf Andalucia, with that event set to take place at the Real Club Valderrama course in southern Spain between July 11 and 13.
Under the deal, HSBC becomes the presenting partner of the '9 to play' broadcast segment that appears on every LIV Golf live broadcast.
In addition, HSBC will provide support to two of the 13 LIV Golf teams - Crushers GC and Majesticks GC.
Scott O'Neill, chief executive at LIV Golf, has said: "HSBC’s global footprint and ongoing presence in professional tournaments align perfectly with our mission to build the game for the next era of players and fans. Few sports leagues can claim a truly global reach, making a partnership with HSBC a natural alignment in our pursuit of a shared vision."
Last month, LIV Golf unveiled the hiring of experienced sports industry executive Chris Heck as the property's president of business operations. Heck most recently served as business operations head at English soccer club Aston Villa.
June also saw the series announce a deal with global hospitality and entertainment company MGM Resorts International. MGM Resorts will serve as the host venue and presenting partner for LIV Golf Week, an annual pre-season event that will relocate from Florida to Las Vegas in advance of the 2026 season.
LIV Golf is currently in its fourth season and, over its first few years, has managed to attract some of the world's best golfers by offering them astronomical contracts.
Critics of the Saudi government regularly suggest that the golf series is being used to sportswash the country's reputation, however.
Barry O'Byrne, HSBC's CEO of international wealth and premier banking, added: "We are looking forward to working with LIV Golf to continue to attract new audiences to watch and play the game. We are proud to continue to open up a world of opportunity for golf, both on and off the course, and have LIV Golf alongside us on this journey.”
In terms of HSBC's golfing associations, the banking heavyweight is the title partner of the Abu Dhabi HSBC Championship on European golf's DP World Tour.
That tie-up began in 2011 and has been valued by GlobalData Sport at $4 million annually.
Elsewhere in sport, the firm is an active sponsor across top-tier rugby and tennis, in particular.
