[Photo: Manuel Velasquez]
LIV Golf is pitching a reduced 10-event schedule to potential investors as it seeks new financial backing following Saudi Arabia’s withdrawal of support, according to multiple reports.
RELATED: LIV Golf laying groundwork for potential bankruptcy, according to report
Sportico and CNBC report that a pitch deck outlines a plan built around international events, with attendance figures from Australia and South Africa used as benchmarks. The league is seeking $US250 million to $US350 million to continue operations and is projecting profitability within three years. Axios reported earlier this week that LIV was targeting profitability in 20 months. In a February interview with the Financial Times, chief executive Scott O’Neil said profitability could be five to 10 years away, and in a since-deleted on-air comment, O’Neil said the league had funding only through the end of 2026.
Bloomberg reported this week that LIV is also laying groundwork for a potential bankruptcy filing. In response, a LIV spokesperson told Golf Digest: “LIV Golf is firmly focused on securing a transaction that positions the organisation for the long-term. As we begin presenting our go-forward business plan to prospective capital partners, we are focused on achieving a sustainable future and there are multiple pathways under active exploration. We continue to see great momentum on the course and with support through the 2026 season and a clear plan to raise capital, leadership is focused on identifying the right long-term strategic partners who believe in our mission to grow the game of golf worldwide. These conversations are just getting underway, and as they progress, the company expects to gain further clarity around the structure and timing of a potential transaction.”
RELATED: LIV Golf asking $350 million from potential investors, according to report
Golf Digest has reported that managers for several LIV players have begun contacting the PGA Tour about paths back. Few are expected to receive exemptions comparable to the one extended to Brooks Koepka. Players who joined LIV’s antitrust lawsuit against the tour face additional hurdles, with further discipline a possibility. Bryson DeChambeau, LIV Golf’s highest-profile player, becomes a free agent after August and has said publicly he is open to pursuing a career as a full-time content creator.
Last month, Saudi Arabia’s Public Investment Fund announced a strategic pivot towards domestic programs, ending its financial commitment to LIV. The fund had invested an estimated $US5 billion to $US8 billion in the league since its 2021 launch. Yasir Al-Rumayyan, the PIF governor who served as LIV’s chairman, resigned after the withdrawal. The league has since installed Gene Davis and Jon Zinman to lead a restructured board.
LIV has already postponed one event this season, citing northern summer heat and soccer’s World Cup. Its next event is scheduled for South Korea beginning on Thursday.
