LIV Golf chief executive Scott O'Neil says the league faces a very compressed timeline to finalise a new investment deal as it looks to build a player-owned future.
O'Neil addressed the media ahead of the LIV Golf Indianapolis tournament, which is the final event of the 2026 season. The season is finishing a week early after next week's Team Championship was cancelled. The Indianapolis event offers a reduced prize purse compared to regular tournaments.
Saudi Arabia's Public Investment Fund, which has spent more than $5 billion, or £3.6 billion, on the circuit over five years, announced earlier this year that it would not bankroll the league beyond this season. LIV Golf is now seeking a deal with an unnamed investor.
That prospective investor met with players ahead of the Indianapolis tournament, where no players held pre-tournament press conferences. O'Neil, who has been chief executive over the past two seasons, used his appearance to discuss what he called the next chapter for the circuit.
"It [LIV Golf] certainly was disruptive and at times divisive and there's no question that several years have been challenging for the game of golf," O'Neil said. "I believe we're at a really special inflection point."
Financial challenges
Recent reports have claimed that multiple vendors and contractors are yet to be paid by LIV Golf. O'Neil acknowledged the financial difficulties but expressed optimism that a complex transaction could be delivered.
"This has been an extremely challenging several months for all of us," O'Neil added. "We didn't sign up for this. We didn't ask for this but yet they're here. My confidence level is high [for LIV Golf to survive] because the facts are good."
"We have work to do. We have things we have to accomplish. There are hurdles we have to jump over. It's a very complex transaction we'll have to deliver. But man, I wouldn't bet against us," he said.
O'Neil said the league had received a signed term sheet from a lead investor, a development previously announced at an event in Bedminster. He said the league was also seeing significant interest from limited partners and strategic partners.
"The first chapter of LIV required enormous ambition and investment," O'Neil said. "This next chapter requires something quite different: commercial discipline. That's why this investor process matters so much and that's why we're spending so much time on it."
"Bringing in outside capital is not just about money. This is a tough business and so of course we need validation, but more importantly, we need some muscle, some expertise, relationships and accountability," he said.
Player ownership
O'Neil said the proposed restructure would give players an opportunity to own a majority stake in the league.
"This next chapter is fundamentally different. We are building towards a league majority owned by its players. Players aren't simply playing for LIV Golf. They have an opportunity to own it," he said.
"They get equity in what they're building. They regain a majority of their commercial rights and teams become real businesses with real assets. The interests of the league and the players become truly aligned around building long-term value together," O'Neil added.
The league plans to lean into its teams and national identities. O'Neil outlined a vision for five marquee Team Championships on each of the five continents the league plays on, alongside five team Signature Events positioned around the four major championships to give participating players a proper place to prepare.
"We certainly are going to lean more into teams, lean into teams and the national identity," he said.
Tensions with rival tours
Several high-profile players, including Jon Rahm and Bryson DeChambeau, have been linked with returns to the PGA Tour. The potential return of LIV players has prompted varied reactions across the sport amid the uncertain future of LIV Golf.
Golfer Rory McIlroy gave his fiery opinion on LIV players potentially returning to the PGA Tour, warning of a tough road back for them and questioning whether they have offered value to the sport. Scottie Scheffler believes that a few LIV players would add value to the PGA Tour, but says they should still receive penalties before being integrated back in. Speaking at The Masters, Tom Watson suggested that players returning from LIV Golf should be made to play the Korn Ferry Tour for one year to qualify for the PGA Tour.
Eamon Lynch told Golf Today on the Golf Channel that a return to the PGA Tour for Jon Rahm or Bryson DeChambeau will prove to be very difficult.
DeChambeau said in May that LIV Golf players were left surprised by the Saudi Public Investment Fund's decision to withdraw funding from the organisation.
Meanwhile, PGA Tour CEO Brian Rolapp discussed big potential changes to their future schedule earlier this season, including promotion and relegation.
O'Neil said he wants to see the sport put the parochial friction of the past behind it and insisted LIV Golf's philosophy is to complete, not compete.
"It's time to move forward. Let's once again put the game first. I spent time over the last several weeks speaking with many of the guardians and stewards of the game of golf, and I heard a real appetite to put the parochial friction of the past behind us," he said.
"I want to be crystal clear: that's what LIV Golf wants. The philosophy is simple. If you've been around me before, you've heard it: it's complete, not compete. Golf doesn't need one tour to win and everyone else to lose," O'Neil said.
"We shouldn't live in a world where one group of golfers is uniquely restricted from playing elsewhere. Our goal isn't to replace or restrict any tour. Our mission is to bring something distinctive to the ecosystem that elevates it and makes the game better."
Future schedules
If other tours penalise players involved in a restructured LIV Golf, O'Neil said the league would build events around its own tournaments to ensure players have a full schedule.
"If you look at some of the feeder tours and what their prize money is, it's simple enough for us to build events around our events and host them and bring people in," he said. "We just want to make sure we have enough events for our players to play a full schedule."
"We're hoping that the ecosystem understands the value and power of inviting some of the most recognisable names in the world of golf into their events, into markets that others might not attend or travel to. It seems very obvious for sure," O'Neil added.
"You don't have to look really too much further past the sponsor invites and where they're going. They're going to our players. If that's not the case, we'll just build events. Simple as that."
DeChambeau contract
O'Neil declined to comment on whether DeChambeau will agree to a new contract but praised his dedication to the sport. DeChambeau and Joaquin Niemann, who has won more individual titles in LIV Golf than any other player, are among the league's top competitors.
"I'll leave all individual player questions to individual players. I have a lot of time for Bryson. I talk to him quite a bit," O'Neil said.
"Having spent 30 years in this business of sports, spending time with professional athletes for most of it, I've never met one who's truly... not what they say but what they do, truly focused and be mission driven. He cares about the global game of golf," he added.
"He cares about building this next generation of fans. I don't think anybody works harder on or off the course. Bryson has become a good friend, a good advocate of the league. I certainly hope he's with us for the future."
"He's been extremely supportive, as I can say most of the big guys have been," O'Neil said.
