LIV Golf close in on stunning survival deal – but will it be enough to convince the stars to stay?
LIV Golf are increasingly confident they have just secured a late lifeline, but huge questions remain on the league’s future. Ben Parsons reports.
LIV Golf bosses believe they are closing in on a huge windfall that would offer the beleaguered league a life raft in their survival hopes.
Scott O’Neil, the LIV chief executive, has had the invidious task of raising $300 million in a matter of months after it emerged that Saudi Arabia’s Public Investment Fund was pulling the financial plug at the end of the season. But in a meeting with captains before LIV Golf UK at JCB Golf & Country Club last week, O’Neil moved to assure players that, despite a backdrop of rampant uncertainty, there were new investors interested in saving the league before a September 1 deadline.
On Wednesday, the New York Post reported that LIV were on the cusp of fresh backing, with unnamed investment firms serving as “anchor investors” ready to support the league to the tune of $250 million. The report also stated that LIV had additional investors plotting to supplement these anchor investors.
LIV Golf declined to comment when approached by TG on the developments.
But a source with knowledge of the negotiations has told us that there has been some progress since an extended players meeting last week in England. Sources said that written agreements have been made with investors, who have signed term sheets outlining their commitment to the league. LIV insiders, therefore, are now increasingly confident that O’Neil has landed a coup in his bid to make a scaled-down ‘LIV 2.0’ viable without Saudi support in 2027.
O’Neil is set to address players and staff at next week’s LIV event at Trump Bedminster in New Jersey. But no official update is expected until after the tournament.
However, even with this prospective influx of cash, the future of LIV remains decidedly uncertain.
The league returned after a seven-week hiatus at JCB as the dominant Lucas Herbert broke scoring records by winning at 30-under par in front of sizeable crowds, but the build-up to the event was overshadowed by the widely unanticipated blow of LIV losing its feeder circuit.
The Asian Tour, which founded a relationship with LIV prior to its launch in 2022, has switched allegiances and signed a deal with the PGA and DP World Tours. LIV had founded the 10-event International Series on the Asian Tour, which offered a crucial pathway to promotion and relegation in its bid for legitimacy, helping the league gain world ranking points.
In its pitch to investors, LIV were planning on using some of the Asian Tour’s national opens to supplement next year’s schedule. TG understands the pitch includes 10 core LIV events, each with $10 million prize purses and the possibility of an effective cut where the final dozen or so players on the leaderboard do not receive payouts.
LIV are hoping to placate their biggest stars, notably Bryson DeChambeau and Jon Rahm, by dishing out equity in the league after the loss of the $30 million tournaments. But bosses still need to convince their roster of players to commit to the league, with several already exploring options elsewhere.
There’s also the small matter of LIV reaching an end to this frenzied campaign. In an email to players and staff, the league stated they wanted to continue to “stay focused on delivering at Bedminster next week and planning for the Individual and Team Championships as we complete a successful 2026 season”. O’Neil added that “we are laser-focused on reaching the finish line.”
But the likelihood at this stage is that the Team Championships in Michigan will be cancelled. Martin Kaymer told TG last week that there is a ‘five percent chance’ the $40 million season finale goes ahead, with the build-out of infrastructure still yet to take place on the Cardinal course at St John’s. There is a suggestion, therefore, that LIV could move its team event to Indianapolis, the penultimate event on the 2026 schedule.
The Michigan showpiece would be the second LIV event not to take place as scheduled since the Saudis announced their retreat, following the postponement of the Louisiana event in June. In its statement on April 30, the Public Investment Fund said that it has made the decision to “fund LIV Golf only for the remainder of the 2026 season”, so it is conspicuous that a second event is now at risk.
A LIV source stressed that the league is now being as “disciplined” as possible in its bid to survive the Saudi divestment with cost-saving measures being made to keep operations afloat. But there is also the risk of player discontent, with a total $70 million in purses possibly lost if the Michigan event is pulled.
In the meantime, the league’s star names are keeping their cards very close to their chest.
“I’m always optimistic, I play golf for a living,” Rahm said last week when asked if he will be a LIV player in 2027. “I’m not going to share anything that I can’t share with you guys right now.”
