YouSaid · the spoken record

Scott O’Neil

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44
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2026-04-14
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2026-04-14
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  1. Be where your feet are. Look, I don't often have a problem with that. I've got other Achilles' heels But I'm oftentimes present. I take my ringer off. I don't have a buzzer on my phone. And so when I'm connected to you, I'm 100% connected.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  2. You really got to have the capacity going into them. You can't do them. Yeah. Because that's the key is like, what am I not going to do then? And so that's life. That's priorities. By the way, that's in marriage. That's in raising children. And that's in business. And you got to stick to what's most important.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  3. Should we do it? How about bedding? You know, we have a really small handle. Those are like sizable things that I would love to do now, you know, and if you're going to

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  4. I know you are. It's agonizing for me, especially when there's so much opportunity. I'll give you one that we're looking at now. Creating a gaming company Online and console. It's like, I know it'll work. I mean, with the stars we have, the Anthony Cam, Bryce Chambeau, Cam Smith, Dustin Johnson, John Robinson, I mean, it's a lock. That's somebody's attention and time

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  5. Yeah, I think Steve Jobs said it best. He said, you know, I want to know what you're saying no to. And it has to be something that you really care about. That's when you know you understand what your priorities are and you're sticking to them.

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  6. That's a champagne problem I look forward to having. That's probably the biggest change. And then this transformation from golf to golf and music to golf and music and food to golf and music and food and art. To golf and feud, music, and art, and fashion, and so you start to see a cultural experience come through and especially our more advanced and more successful events. And that's been like intellectually fun to think about.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  7. That's okay. That's good fiction. It's not bad fiction. It's good fiction. It's like, okay, well, how am I building my roster? Is there a salary cap? You know, how are we sharing revenue? All this stuff. We don't have to deal with now.

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  8. If it were my preference, I'd ask for a few more years to make sure that we're on the right track and have a strong enough foundation. Biggest changes, we're going to have owners, outside owners. And think of how challenging that might be. It's complex.

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  9. Which we haven't seen yet. Unfortunately, on the sponsor from with Rolex and HSBC and Salesforce and Qualcomm and Ping and Cali, I mean, a big global brand. Very nice. And that will continue. In terms of women's PIF, public investment fund, and Aramco. The largest investors in women's women's golf in the world, like period end of sentence. So, you know, how we integrate with live or is that separate and run differently? We're not really sure. We have our hands full here.

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  10. Different here is it's global okay. Try to name three global sports leagues F1 Live. So there aren't too many or any of scale. So the global nature is fascinating. The interest, you know, by the powers of the world in this business, the leaders of the media companies of the world, the leaders of the businesses of the world, the leaders of the governments of the world, all very interested. That's unique and different. And this notion of players as partners, I like that notion. And in some ways an MBA and the NHL, you know, they have a collective bargaining agreement and they get 51% or 52% or 49% depending on the league. But these guys. Bryson Dhambeau, John Rom, Cam Smith, Wacco Neeman, they're my partners, my business partners. And then the last difference would be like year Know NHL I think is over 100 years old.

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  11. Exactly the same. The importance of impact and what we're doing to put more kids, clubs, and kids' hands, the fact that we run the most environmentally friendly golf events in the world. The fact that we do quite a bit in terms of the refugee front in a partnership in the United Nations, all stuff that's really important and very similar to everywhere I've been. Not the actual execution, but this notion that impact matters that we don't have an opportunity but a responsibility to make the world a bit better. It's that community aspect. All that stuff is the same.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  12. Business is exactly the same. I mean, there is no difference. You can move from NFL to NBA to NHL to Premier League. Media contract, an arena deal or a course deal, sponsorship, premium tickets, merchandise. The athletes being at the forefront of what we do and leading our brand that you have to actually manage communications, that you're in the fishbowl you mentioned.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  13. There's return on image, and I think that's part of the magic of sports. And if you're a country, I don't want to speak specifically about Saudi because I can't speak for them or on their behalf. I'll just speak a country. You know, there's a reason countries bring in the World Cup. There's a reason countries bring in the Olympics, right? We're in South Africa and we brought in $80 million of economic impact in a weekend. And so we filled hotel rooms. We filled airplanes. We also assembled the who's who of South Africa in suites. And we do that everywhere we go. I mentioned we're in Korea. You got 60 chairmen there. Now, are those 60 chairmen good candidates to build plants in different places? Maybe or trade agreements. Maybe that's not for me to say. Our job is to make sure that we represent their investment in a way that will make everybody proud to be a part of it and associated with live golf.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  14. I guess there's ROI and ROI. So the return on investment is real. And we run, they're set up, they're a private equity company. And so we are managed just like Blackstone and Apollo. And I've been in those systems. It is no different. And so it is hardcore. We have real KPIs. We're measured weekly. We are managed very tightly. So don't make any mistake about it. Like, this is private equity.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  15. Leaders of those businesses and I we stay in contact and touch base and try to help each other along the way. And so if that's connecting partners, if that's exchanging some talent, if that's, but we're not going to be like F1.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  16. You know, I've worked in the public companies before. I've worked in private equity before. I've worked for a league that's technically owned by against the owners. And I guess the weight of the responsibility might be a little heavier, but it's not too much different. I mean, PIF is a private equity firm.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  17. Advancing, maybe, maybe, maybe they are. I mean, history will write the story. But generally, they are US focused and we are globally focused. There's two different markets. Like, are there things we could, should, would, do together? Of course. You know, should we align our global calendar? Of course. Should we maybe be on each other's cap tables? Probably. Can we create content together?

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  18. And I run one of the major businesses in it. I think that's a good thing. We played a couple of these courses this year. He's been pretty vocal about trying to help. And it's a pretty simple formula. I mean, in terms of what needs to happen and hopefully something happens there.

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  19. Yes. And so revenue up 108% last year expenses up 8%. This year. Revenue up 85%, expenses up 3%. So, like, how many years are we going to stack these big gains on? But listen to this early. It's a five-year-old company. I mean, we're building a global business, changing the tire on a moving car because we're changing a lot of things on the fly. But if that doesn't pop you out of bed in the morning, it's the wrong business.

    2026-04-14 · Masters of Scale · LIV Golf’s gambit to rewrite global sports, with Scott O’Neil · IDENTIFIED FROM THE TRANSCRIPT

  20. 45% of the sports watching audience in South Africa watched our event. Double who watched the masters there. We are creating a cultural experience and we do that because we have a local tie with local athletes and because we leverage social media in a different way. We've been batted around about our ratings and I just said we have five million people watch our Australian event. Sign me up

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  21. I'll give you a couple stats and facts. So, in South Australia, we have the event in Adelaide. Growth of girls twelve to eighteen playing golf is up 212%. The golf clubs, there are eight of them in the market all had openings, now have waiting lists. Forty percent of the new members, 45 years and under. Maybe they're just a coincidence. Maybe. I don't think so. We were just in South Africa.

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  22. Absolutely. 60% of our fans are under the age of 40. Like you go anywhere else, it's like here you have parents pushing strollers. 23% of our audience and fans, families. You see packs of kids roaming around.

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  23. Like shooting foul shots, no, no, no. We'll have parachuters come down, we'll have fireworks, we'll have concerts, we had, I don't know if you're in the DJ scene, but we had Dom Dala and Fisher. We have Thomas Rhett coming to Indy this year. I mean, big-time artists. So after play, there's a concert. And people are like, why would you have a concert? Well, what if we can attract new faces and people, ages, genders to the sport? And so, you know, so it makes.

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  24. Which is the way we have walk up songs for our players. So they walk up. It's like onto the tea now. John Rom and John will have picked his walk up songs just like you found in base

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  25. Yeah, it goes around the world. Yeah. And the way we use this is before the advent of social media as it is today, and we were putting out eight, nine videos a day. People were coming from all over the world. We can drive personality-driven stories through social. That is real. And then trust the process, the essence of our Joelle Embede era, trust the process was about, look, we don't know the future. But given the information we have today, let's make the right decision, as many right decisions as we can, and just keep walking forward because we know that light at the end of the tunnel is not an oncoming train.

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  26. I think there also, I don't know if you remember Madison Square Garden. We had Lan Sanity. And I think Liv Golf is Len Sanity Meats Trust the process.

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  27. I know their caddies, their families, their children, their wives. I know what they like, what they, and they do the same about me.

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  28. Came over during play, took his glove off, took a Sharpie out of his bag, signed it, and handed his 10 year old girl, Bryson and John Rom sixty minutes outside of the press area signing stuff. 60 minutes. We don't rope the stands away from fans. We rope them through fans. And our players understand their role. They know they have to sign more. They know they have to take selfies. They know they have to engage this notion of managing a brand and how you think about media relationships and how you think about relationships with players. I mean, think of what Adam Silver has done at the NBA in transforming. The relationships between league and player, that's what we have. I travel with these guys. I'm with them for seven months. Instead of it being

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  29. They are businesses. They are the brand. They are the business. Maybe they had a head start because now you're seeing almost, you know, I mean, we've seen that everybody else catch up, but they have to have the best head start. I would say what we ask of our players in South Africa, this woman run up to me and say, Scott, and I was like, uh-oh, what happened? And she said, my 10-year-old daughter, you know Victor Perez, one of our players.

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  30. That's right. Now, in John's case, he has equity in the team, so he has a lot of incentive for us to keep driving revenue, which builds value in his team. So it's a bit of a cycle. But yeah, some of the deals for guys, I don't know. I just, I think I read Taylor Swift made over a billion dollars in her tour. I read a couple PGA tour players did okay last year as well. So I never, I don't know, I've been in this business. Stories and personalities Bryson de Shambo. I don't know if these names mean anything to you, but he's a YouTube superstar. He's got 10 million followers. I can tell you we can go to Singapore and kids will lose their mind and we can go to Korea or we go to... Bedminster and equally crazy, crazy fans.

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  31. Mercedes, or you're sponsored by Rolex, or like they're paying for certain rights, which we're acquiring. And so it's a good headline price and it's good for the agency to talk about.

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  32. Yeah, I mean, the contracts are a little bit misunderstood for whatever it's worth. It's like we're acquiring your rights, you know? You know, so if you're John Rom and you're sponsored by Callaway or you're sponsored by

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  33. Although Absolutely. Yeah, absolutely. No, the global piece is, you know, Tom McKibben is one of the best players to come out of Northern Ireland ever. I said, hey, Tom, why us? I said, well, the music I thought was really cool. I went to your event in the UK. I absolutely fell in love with it. He goes, and my parents love, think about this. At the time, 22 years old, my parents loved the notion of me learning from John Rom, one of the greatest players on the planet. I learned how to dress. I learned how to eat. I learned how to work out. I learned how to handle myself on the range. I learned how to handle myself in the media. I get to play with him. How about that for an education? One of the loneliest sports in the world. Now you have mentorship. Now you have a role model.

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  34. How do you think about it? Yeah, I mean, in my most cynical view, I'd say it was like, you know, the iPhone with the iPhone coming in were different for sure, but the same. You still talk on it, take photos, take video. You know, maybe access to World Wide Web.

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  35. Not compete. Complete. They've got the US on lockdown and they do a wonderful job for us. I'll take the 7.2 billion people. I'm going to take that bet. I'm going to take the 199 countries that we broadcast in outside the U.S. I'll take that bet over time. I like the growth a lot. I like where the sponsorship market's going. I like where the broadcast media is going.

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  36. Absolutely. And this team concept, people are like, it's crazy. I'm like, is it crazy at the Rodder Cup? Is it crazy at the Olympics? Is it crazy in college? Like, it's not, we are not splitting atoms here, okay? I mean, no, it's.

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  37. Absolutely hockey. But quite different from the open ended ones where you're spinning off to other networks just to try to get the coverage. Those are like the primary differences.

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  38. No, the reason that's an advantage for those of us who've been gone to golf events for quite so many years is you're not sure when your guys are playing and it lasts a good like 10 hours ours. We've got a smaller field, 57 players, and they all go off at the same time. And in four hours and 35 minutes, you're done. So our hospitality is akin to Formula One. We consider ourselves the Formula One of golf. Elite hospitality. So now what I'm entertaining you, I'm not inviting you from 7 a.m. to 7 p.m. I'm saying, okay, from 12 to 4.30, I'd love to have you come. And so it's a little more fixed, a little more regular. Also, good shorter TV windows. Yeah

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  39. That's where we're going to go. Yes, absolutely. I mean, the value of teams is indisputable in sports. And most of our teams are profitable, which helps the investment thesis. But they're profitable small businesses. The question is Do you want to create a big business? Well, if you're Australian and you buy our Aussie team, what could you do? Could you create a media company around them? Could you create a clothing brand around them? Could you buy a golf course? Could you create an academy? Of course, of course, of course, of course, of course. And so I think there's a real interest and understanding on how to drive some value there. But the teams is different. Our format, we have what they call shotgun start. I know you're not much of a golfer yet. Everybody starts at the same time.

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  40. I went to work for Jeff Lori in Philadelphia just after he bought the team for $188 million. And people thought he had lost his mind to spend that much money. The game he just raised at over $6 billion. And I think the jazz just sold for just about $2 billion. And so you start to think about, okay, well, franchise values have worth, right? There's a scarcity value. And so we believe of our 13 teams, I think we'll end up eventually go to 15 teams, there'll be a really strong asset value there.

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  41. There sure is because there are the captains like the Bryson D. Shambeaux, the Phil Mickelson's, the Bubba Watsons, the John Roms, the Campsmiths, names you may know, are the captains of those teams, the stars. And they are our business partners, so they have equity in those teams. And we're actually going to market, right? We had so much inbound interest. We're actually selling a couple stakes and a couple teams this year. I was with the New Jersey Nets as a marketing assistant in 1992. And I remember the Utah Jazz sold for $13 million.

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  42. Yes, it is. And so we go to these countries, there's a lot of nationalism. And in South Africa, I'll tell you on the first T, our players were crying. They're singing a national anthem. People are like screaming their names. And they were like so overcome. Aussie team when they got Australia. They're like, it's like you two walking down the street. I mean, it is unbelievable like the love and passion. So teams are definitely a unique aspect. Now, there's a different competition model.

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  43. Well, there are several things that are different. We have teams, so you're assigned to a team. Most of the teams are regionally based. We have Southern Guards are a South African team. Ripper GC is an Australian team. Majestics are a UK team. Korean Golf Club. Korean team. So it's like a ride.

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  44. To My message is I need your help. All the best golf since Tiger Woods has been playing in the US. 46 of the best top 47 events in the world historically have been played in the US. And then there's the open championship in the UK Whole rest of the world out there. And so I want to take the best players in the world to the world and grow the game. So it's a, man, I will say like never been challenged more, never worked harder, never travel more And never had more fun.

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