RESOLVING THE LEDGER
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See the full story · 2 sourcesLIV Golf says it has secured a new investor but did not name the party involved.
Chief executive Scott O'Neill said the players will become majority equity holders in the league.
LIV hosts its 2026 season-ending event in Bedminster, New Jersey, this weekend.
LIV Golf has secured a "lead investor" to keep the lights on, and the league will move forward with players becoming majority equity holders, chief executive Scott O'Neil has announced.
A signed agreement is in place with the unnamed investor and has been approved by the LIV Golf board, O'Neil said.
The transaction is expected to close in September. No details on the amount of capital infusion were announced.
Multiple reports said LIV Golf will return next season with 10 events: five international and five in the United States.
Dark clouds have been looming over the PGA Tour and DP World Tour rival since Saudi Arabia's Public Investment Fund (PIF) announced this spring that it will stop funding the league at the end of 2026.
The PIF reportedly invested $US5 billion ($7 billion) in the project since it launched in 2022.
LIV Golf cancelled its New Orleans event in June and reportedly has nixed its season-ending team championship, scheduled for later this month in Michigan. At least one report said that the league was considering filing for Chapter 11 bankruptcy protection.
On Wednesday, local time, O'Neil said the new agreement will "play a key role in supporting the path forward for the League's next era, driven by and for the players".
"We're also seeing strong interest from more than a dozen additional parties to potentially serve as minority investors, creating a multi-partner model built for long-term stability and growth," he said.
"Notably, our next chapter will make our players the majority equity holders in LIV Golf, a first for a major global sports league, and gives the League the foundation to keep growing the game worldwide. We anticipate finalising terms in the coming weeks, with the goal of entering a transaction in September.
"In the meantime, our focus is on delivering a great week for fans and players at Bedminster and finishing the 2026 season strong."
No details on the framework for the players' proposed equity stakes were provided.
Ever since the PIF pulled the financial plug, LIV Golf had been in the market for investments between $250 and $350 million, according to Sportico.
Speaking to 891 ABC Adelaide, Australian Golf Digest Magazine managing editor Steve Keipert said the announcement is promising for the tour's Adelaide pit stop in March, which had been threatened by the Saudi funding withdrawal.
"If this investor is signed on … at least for 2027 you would imagine the league would be going ahead in some capacity, and you would think that Adelaide would be top of the list," Mr Kepiert.
"There might not be many LIV events, in fact they're talking it could be more like 10 rather than the 14 we've been seeing.
"But you would imagine that Adelaide, given what's been built there and the success of it on its own, would be top of the list to stay on, at least next year."
The SA government has a significant stake in the league's survival, having cleared swathes of parkland to expand the North Adelaide Golf Course in the face of community pushback .
LIV Golf returns to action with its New York tournament this weekend, beginning Thursday at Trump National Golf Club in Bedminster, New Jersey.
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