LIV Golf hires investment bank to advise on new multi-partner model

NEW YORK – With LIV Golf in search of new funding partnerships, the league announced that New York-based Ducera Partners will serve as an investment banking advisor as it seeks financial stability moving forward.

Saudi Arabia’s Public Investment Fund announced it will end financial support of LIV Golf at the end of the 2026 season.

In April, LIV announced a new board to be headed by Eugene Davis, the chairman and chief cxecutive officer (CEO) of Pirinate Consulting Group and Jon Zinman, the founder and managing member of JZ Advisors LLC.

They are tasked primarily with “institutionalising the league, formalising its ownership structure, and evaluating the range of strategic opportunities,” according to the league.

“This league has proven its value, and our focus now is on building the right financial foundation for the long term,” LIV CEO Scott O’Neil said.

“Ducera (brings) deep transaction experience and a track record of delivering in complex, high-stakes situations. They are the right partner for this process.”

Founded in 2021, LIV Golf made its debut in June 2022 and used lavish, guaranteed contracts to lure dozens of stars like Dustin Johnson, Phil Mickelson, Jon Rahm and Bryson DeChambeau away from the PGA Tour.

Former LIV star Brooks Koepka already has returned to the PGA Tour while Patrick Reed will return later this season.

PIF has provided LIV with more than US$5 billion (S$6.38 billion), but the league has reportedly lost millions of dollars per year. Earlier in May, Yasir Al-Rumayyan, PIF’s governor and LIV’s main financial backer, shared a plan for the kingdom to cut back on international investments and focus on more domestic projects.

LIV notes that Ducera “is a leading investment bank specialising in complex, high-stakes corporate finance”. The investment giant is noted to have “US$850 billion in transactions” through media, entertainment and sports ventures.

In touting “significant momentum”, LIV said that sponsors and partnerships have increased 40 per cent per year, ticket sales have grown 130 per cent and that tournament broadcasts have reached one million households worldwide.

Meanwhile, Tiger Woods is not expected to compete at June’s US Open or the US Senior Open in July, United States Golf Association CEO Mike Whan told Sports Illustrated in a report released on May 4.

“I’d be super surprised,” Whan said in response to whether he thought Woods would play at the 2026 US Open. “It would be wonderful for the event, and if he was ready, it would be wonderful for him.”

The 50-year-old Woods entered rehab – reportedly a 90-day inpatient residential treatment programme in Switzerland – following a car crash on March 27 near his home at Jupiter Island, Florida.

He was arrested on suspicion of driving under the influence and refusing to take a urine test near his home in Florida after his Land Rover clipped the back of a truck and rolled over onto its side. He was not injured and pleaded not guilty to the charges. REUTERS