LIV Golf has announced a partnership with a primary investor to secure the league’s financial future following Saudi Arabia’s withdrawal of support. The agreement, which received approval from the LIV Golf board, is expected to finalize by September. CEO Scott O’Neil revealed the development on Wednesday, though specific details regarding the investment amount remain undisclosed.
The new funding structure marks a significant shift in governance, with players set to become majority shareholders in the professional golf league. This arrangement would represent a first among major global sports organizations. Additionally, multiple other potential minority investors have expressed interest in participating, suggesting a diversified financial model designed for sustained expansion and stability.
The investment comes as LIV Golf faced considerable uncertainty after Saudi Arabia’s Public Investment Fund announced in April it would cease funding the venture by year’s end, following an initial $5 billion commitment since 2022. The league subsequently cancelled several events and faced speculation about potential bankruptcy proceedings.
Looking ahead, LIV Golf plans to operate ten tournaments next season, split between international and domestic venues. The organization intends to resume competition this weekend with its New York event at Trump National Golf Club in Bedminster, New Jersey, as it works to conclude the current season successfully.
Originally reported by Aljazeera →
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