LIV Golf CEO Scott O’Neil has started the search for two different levels of investors, while seeking as much as $250 million in investment capital beyond this year, Axios reported.
Sauda Arabia started the breakout golf league in 2022 through its Public Investment Fund but will no longer provide backing to the tour after the 2026 season is completed.
PIF has invested between $5 billion and $8 billion since starting LIV Golf, according to estimates, but will now focus on investments domestically. The league has never come close to turning a profit, according to reports.
LIV Golf already has postponed its New Orleans tournament that was slated for June but left the door open for a different version of the tournament later this year. The postponement leaves a gap on the schedule between LIV Golf Andalucia in Spain (June 4-7) and LIV Golf UK (July 23-26).
LIV Golf intends to operate in the future but will have to bring aboard investors in the hope of being viable. And even then, the league might be diminished from what is in place now with stars like Bryson DeChambeau, Jon Rahm, Joaquin Niemann, Cameron Smith and Tyrrell Hatton.
According to the report, LIV Golf is letting it be known to prospective investors that an infusion of $250 million will make the league profitable within two years.
Another $150 million investment plan is being floated, but that will have to be offset through a new media rights deal and the sale of its 13 teams which consist of four competitors each.
–Field Level Media
