LIV Golf CEO Scott O’Neil has affirmed the league’s financial commitment to continue through the 2026 season. His statement comes amidst speculation about potential funding cuts from Saudi Arabia’s Public Investment Fund (PIF). The PIF has invested over $5 billion in LIV Golf since its inception in June 2022.
O’Neil Addresses Funding Concerns
O’Neil addressed concerns on Thursday, stating that the league is funded through the season. He added that they are working to create a business plan to ensure long-term sustainability. According to O’Neil, this approach is consistent with other private equity-funded businesses.
O’Neil sent a memo to staff on Wednesday, reassuring them that the 2026 season would proceed at “full throttle.” He also indicated that he met with 50 people at the Masters, presenting a plan that he believes will be surprising.
LIV Golf’s Performance and Future Plans
LIV Golf claims that certain metrics, including ticket sales and team sponsorships, have shown increases. O’Neil projects that 10 of the 13 teams and four of the 14 events will be profitable. However, the league faces substantial costs related to prize funds, with $30 million allocated for each tournament, and overall operations.
O’Neil remains optimistic about the league’s trajectory. He suggests that raising additional capital is a normal part of business. He believes that continued revenue growth will lead to a successful long-term future for LIV Golf.
Other Developments
- LIV Golf has eight tournaments remaining this season, including five in the United States.
- Louisiana Economic Development Secretary Susan Bourgeois has requested a decision by Monday regarding the LIV Golf tournament scheduled for June 25-28 in New Orleans.
- Jon Rahm said he was not overly concerned about the uncertainty surrounding the league.
Saudi Arabia’s crown prince Mohammed bin Salman approved a five-year strategic plan for the PIF that focused on domestic initiatives. The PIF sold a 70% stake in Saudi Pro League side Al Hilal to Kingdom Holding Company.