LIV Golf secures lead investor for player-driven future, says CEO Scott O’Neil
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Breakaway circuit LIV Golf lured many leading players away from the PGA Tour before being dropped by Saudi Arabia’s Public Investment Fund.
PHOTO: ACTION IMAGES
- LIV Golf has secured a new lead investor, with a deal expected in September, to support its future after Saudi Arabia’s Public Investment Fund (PIF) ended further investments.
- CEO Scott O’Neil announced plans for players to become majority equity holders and a reduced schedule of 10 events split between the US and international venues.
- LIV Golf attracted top players with PIF’s US$5 billion backing and set records like the 2026 Adelaide event, Australia’s highest-attended golf tournament with over 115,000 spectators.
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NEW YORK – LIV Golf has secured a “lead investor” to keep the lights on and the league will move forward with players becoming majority equity holders, chief executive Scott O’Neil announced on Aug 5.
A signed agreement is in place with the unnamed investor and has been approved by the LIV Golf board, O’Neil said. The transaction is expected to close in September. No details on the amount of capital infusion were announced.
Multiple reports said LIV Golf will return next season with 10 events – five international and five in the United States.
Dark clouds have been looming over the PGA Tour and DP World Tour rival since Saudi Arabia’s Public Investment Fund (PIF) announced this spring that it will stop funding the league at the end of 2026. PIF sank a reported US$5 billion (S$6.4 billion) into the project since it launched in 2022.
LIV Golf cancelled its New Orleans event in June and reportedly has nixed its season-ending team championship, scheduled to be held later in August in Michigan. At least one report said that the league was considering filing for Chapter 11 bankruptcy protection.
On Aug 5, O’Neil said the new agreement will “play a key role in supporting the path forward for the League’s next era, driven by and for the players”.
“We’re also seeing strong interest from more than a dozen additional parties to potentially serve as minority investors, creating a multi-partner model built for long-term stability and growth,” he continued.
“Notably, our next chapter will make our players the majority equity holders in LIV Golf, a first for a major global sports league, and gives the League the foundation to keep growing the game worldwide.
“We anticipate finalising terms in the coming weeks, with the goal of entering a transaction in September. In the meantime, our focus is on delivering a great week for fans and players at Bedminster and finishing the 2026 season strong.”
No details on the framework for the players’ proposed equity stakes was provided.
Ever since PIF pulled the financial plug, LIV Golf had been in the market for investments of between US$250 million and US$350 million, according to Sportico.
LIV Golf returned to action with its New York tournament this weekend, beginning on Aug 6 at Trump National Golf Club in Bedminster, New Jersey. REUTERS