LIV Golf CEO claims new investor will sustain league amid tournament cancellations

LIV Golf CEO Scott O'Neil said on Wednesday that the league has secured a lead investor who has signed a term sheet, with the deal expected to close next month. The investor was not identified and the amount of funding was not disclosed. O'Neil described the situation as "very fluid" and indicated that the new capital could allow LIV to continue operating beyond its 2026 deadline.

The announcement comes after the league cancelled its June tournament in New Orleans and faces the possible cancellation of its upcoming Team Championship in Michigan. Recent winner Lucas Herbert reportedly discussed a possible return to the PGA Tour, adding to concerns about player retention.

O'Neil, who took over as CEO 19 months ago, emphasized the league's unique ownership structure, noting that it is majority-owned by players, a first in major sports. He said retaining top players such as Bryson DeChambeau and Jon Rahm is critical, describing them as "some of the biggest stars in sports" and expressing a desire for them to stay with LIV.

Analysts have noted that the league's previous backing from Saudi Arabia’s Public Investment Fund has waned, and that the PGA Tour has secured new financing through the Sports Strategic Group. LIV Golf still maintains a presence in Australia, South Africa and the United Kingdom, but its footprint in the United States has diminished.

O'Neil concluded by urging observers not to count the league out, citing his experience in rebuilding other sports franchises as evidence of his confidence in LIV's future.