LIV Golf Seeks New Investment as Funding From Saudi PIF Wanes

LIV Golf CEO Scott O'Neil announced Wednesday that the league has reached an agreement with a lead investor to support the organization's next era, as Sports Illustrated first reported. According to the outlet, the deal is signed by the investor and approved by the Board, with the goal of finalizing terms in September. O'Neil stated that more than a dozen additional parties have shown interest in serving as minority investors to create a multi-partner model. A key component of the new structure is that players will become the majority equity holders in the league.

This financial pivot comes as the league prepares to lose funding from the Public Investment Fund (PIF) of Saudi Arabia, which Sports Illustrated reports has spent over $5 billion on LIV Golf over the last five years. As the league transitions, it is also reducing its schedule from 14 events to 10, split evenly between the U.S. and international locations.

Sports Illustrated notes that the league's viability may be tied to star players Jon Rahm and Bryson DeChambeau. Rahm is reportedly owed upwards of $150 million from his contract, while DeChambeau has recently indicated uncertainty regarding his future after his contract expires this season. The shift in funding may reduce the incentive for high-profile players to remain, as previous winners of the league's cut-free events took home $4 million.