LIV Golf secures new investor funding to sustain league
LIV Golf announced it has secured financing from an undisclosed investor, aiming to raise $250-$300 million to keep the circuit operating after the Saudi Public Investment Fund withdrew its support.
LIV Golf said it has reached an agreement with an outside lead investor that will provide the capital needed to continue the league beyond the current season. The announcement was made by CEO Scott O'Neil at Trump National Golf Club in Bedminster, New Jersey, where the tournament begins Thursday.
O'Neil did not disclose the investor’s identity or the exact amount of money involved, but indicated that the league hopes to finalize terms in the coming weeks and close the transaction by September. > "LIV Golf has an agreement in place with a lead investor, signed by the investor and approved by the board, to anchor the transaction and play a key role in supporting the path forward for the league's next era, driven by and for the players," O'Neil said.
The league is seeking $250 million to $300 million after Saudi Arabia’s Public Investment Fund announced it would cease financing the circuit, ending a five-year, more-than-$5 billion funding relationship. Under the new structure, golfers will become the majority equity holders, a first for a major global sports league, according to O'Neil.
LIV Golf plans to hold 10 events in 2027, split between five international team "majors" and five U.S. team "signature" events. Players will be permitted to compete on other tours and will regain control of their name, image and likeness rights. The league’s management said it is taking a disciplined approach to ensure long-term sustainability.