Hall of Famer Greg Norman reveals new Saudi-backed professional golf series

By David Close, CNN

Updated 2037 GMT (0437 HKT) March 16, 2022

Greg Norman, pictured here at the 2021 Masters, says the series of tournaments will start this year.

(CNN)World Golf Hall of Famer Greg Norman on Wednesday announced a new Saudi-backed, team-based, professional golf league.

Norman, a 20-time winner on the PGA Tour and a former World No. 1 player, is a prominent face of the start-up LIV Golf Invitational series, which will host its first invitational competitions this summer.The venture, backed by Saudi Arabia's Public Investment Fund, pledges to award $250 million in total prize money while hosting eight tournaments, held June through October.«I want golf to grow, players to have additional opportunities, and fans to have more fun. My mission is to help the game reach its full potential and we know the role of golf as an entertainment product is critical to overall participation in the sport,» Norman, the CEO of LIV Golf Investments,said Wednesday.'If he is sincerely sorry… he deserves a second chance': Golfers respond to Phil Mickelson's Saudi Arabia commentsNorman continued, «In many ways, we are a startup. We have a long-term vision and aim to grow. I believe we have a very bright and exciting future.»Read MoreRumors of the venture have circulated for some time but drew a spotlight in February, when six-time golf major winner Phil Mickelson apologized for comments over the then proposed venture while saying they were off the record. Mickelson has since lost multiple sponsorships over the controversy and has said he will take some time away from golf.Some of the world's top professional golfers recently reiterated their commitment to the PGA Tour, including Rory McIlroy, Dustin Johnson and Bryson