LIV Golf’s CEO confirms league’s financial backing to complete the season.
In light of uncertainties surrounding the future of LIV Golf, CEO Scott O’Neil informed TNT Sports on Thursday that the league is financially committed to completing the 2026 season.
On Wednesday, the Financial Times indicated that Saudi Arabia’s Public Investment Fund, which has invested over $5 billion into LIV Golf since its inaugural tournament in June 2022, was nearing a decision to reduce its funding.
LIV Golf has eight tournaments left on its schedule, with five taking place in the United States.
“The reality is you’re funded through the season and then you work diligently as a business to establish a sustainable business model,” O’Neil stated during Thursday’s broadcast of the opening round of its tournament in Mexico City. “But that’s not different from any other privately funded business throughout history.”
O’Neil, who sent a memo to staff on Wednesday asserting that the 2026 season would proceed at “full throttle,” mentioned on Thursday that he had discussions with 50 individuals at the Masters and introduced a plan that “might surprise people.”
LIV Golf has reported that some of its metrics, including ticket sales and team sponsorships, have shown improvement, and O’Neil anticipates that 10 of the 13 teams and four of the 14 events will turn a profit.
Nonetheless, there are significant expenses associated with prize funds ($30 million for each tournament) and operational costs.
“Given the momentum of this business, we’re genuinely enthusiastic about our current position,” O’Neil remarked.
“… This idea of bringing teams to market, I had two calls this morning. This idea of, ‘Do you need to raise funds?’ Likely. This is business. However, if we maintain our current trajectory and revenue growth, this will become a very successful business for an extended period.”
Golfer Jon Rahm stated he had no issues progressing within the competition despite the uncertainty.
“For me, it didn’t make sense to dwell on it or waste time thinking about [it],” Rahm expressed on Thursday. “Since everything unfolded so abruptly, I wasn’t particularly concerned because typically, before rumors arise, we already have some insight — there’s usually someone within the league who is aware. It happened so quickly that I really didn’t worry about it.”
On Wednesday, Saudi Arabia’s crown prince and PIF chairman Mohammed bin Salman approved a five-year strategic initiative for the sovereign wealth fund that emphasizes domestic projects.
The PIF sold a 70% share in Saudi Pro League club Al Hilal on Thursday to Kingdom Holding Company, a firm run by billionaire businessman and Saudi royal family member Prince Alwaleed Bin Talal.
In addition, LIV Golf and the PIF were named as defendants in a lawsuit filed by World Golf Group and the Premier Golf League, which initially sought to have golfers compete on four-man teams in 54-hole events with $20 million purses.
Details regarding the lawsuit, filed in Commercial Court in London on Thursday, were not immediately available, and the attorneys for the World Golf League did not respond promptly to a request for comment from ESPN.
The Premier Golf League attracted PGA Tour stars such as Justin Rose, Brooks Koepka, Rickie Fowler, Dustin Johnson, and Phil Mickelson starting in 2020. It reportedly offered $30 million each upfront to these PGA Tour stars in exchange for ownership stakes in their teams.
The league, established by the British-based World Golf Group, aimed to host 18 global tournaments featuring 48 golfers competing for $20 million purses, with the winner set to receive $4 million.
The Premier Golf League sought to collaborate with the DP World Tour in the fall of 2020, promising to elevate the European circuit to “another level.” In response, the PGA Tour formed a strategic partnership with the DP World Tour.
With the assistance of former world No. 1 golfer Greg Norman, LIV Golf successfully attracted several prominent PGA Tour stars, including Mickelson, Koepka, Johnson, and others, with guaranteed contracts exceeding $100 million.
The Associated Press contributed to this report.
