RESOLVING THE LEDGER
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The sands of time are slipping away from LIV Golf.
It is five years since the Saudi Public Investment started pouring their petrodollars into the rebel golf project. $5bn later, PIF have abandoned their mission, announcing in April that they would pull funds for LIV at the end of the 2026 season.
In the meantime, PIF has been funding LIV’s exorbitant prize purses, guaranteed contracts and other mammoth operational costs through loans, not equity.
For Scott O’Neil, the CEO of LIV Golf with the unenviable task of trying to keep the tour breathing while it remains on life support, that complicates the picture.
Photo by Jan Kruger/Getty Images
O’Neil has been holding talks with private equity firms , wealthy investors and family offices with a view to sourcing a rescue package worth between $250m and $350m.
All the while, LIV are fending off lawsuits , including one potentially worth up to $630m from a group alleging that PIF stole their concept. There have also been accusations of unpaid invoices and temporary measures to suspend payments to contractors. Bankruptcy, either Chapter 8 or Chapter 11, is a possibility.
And it appears that LIV’s money could officially run out if they have not secured the capital they need to stagger on by this date.
Two investors remain in LIV funding search; deadline for talks outlined
After the UK swing of the tour at JCG Gold & Country Club, where Lucas Herbert and Ripper GC won their respective events , LIV has a week to go until the tour resumes in Bedminster at Trump National Golf Club.
After that, onto Indianapolis. If they make it that far before the funds dry up, that is.
Photo by Jan Kruger/Getty Images
Now, a new report detailing the latest LIV developments from Front Office Sports has outlined the timeframe that PIF are seeking a final resolution.
LIV are, it is claimed, looking to have investment secured by a 1 September deadline. It is also said that the search has now been whittled down to two would-be investors.
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