LIV Golf faces a decisive stretch in August as it tries to line up new investors to keep the circuit alive next season, after Saudi Arabia's Public Investment Fund (PIF) decided to withdraw from the multi-billion-dollar project it launched in 2022.
Since PIF entered world golf, it has committed more than $5.2 billion, roughly €4.5 billion, a flow of petrodollars that attracted stars such as Jon Rahm and American Bryson DeChambeau. That funding has now dried up as the Saudi regime resets its priorities.
Season finale under pressure
Time is working against LIV's leadership. The season closes at the end of August with the team event in Michigan, following two individual tournaments already set for the United States: New York, starting Thursday, August 6, and Indianapolis, from August 20 to 23. Chief executive Scott O'Neil needs to put new investors on the table to calm players' nerves about what happens in 2027.
Players briefed but few details
O'Neil met with players ten days ago in the United Kingdom, the site of the previous tournament, to keep them updated, though without confirming what comes next, and the league has issued no official statement in several weeks.
Veteran British golfer Lee Westwood said after the meeting that he knew enough about the situation to feel optimistic about the future. He said players had been briefed on many things, that some matters were still pending, that projects and a process were under way, and that nobody could say right now how it would end, but he added that he did not feel anything was being hidden from him.
Chilean star Joaquín Niemann also struck a hopeful tone, saying organizers always tried to keep players informed and that players in turn sought feedback on their opinions and suggestions to improve the product, in the hope of offering something even better next year. He said he wanted the league to continue and remain valuable to world golf.
Martin Kaymer, a two-time major champion, struck a different note, saying the Michigan team final was in danger. He called it highly improbable.
Reports of a rescue deal
Reports on LIV's situation have varied in recent days, ranging from a possible restructuring after acknowledging bankruptcy to a deal with investors worth between $250 million and $300 million to save at least next season with a smaller league focused on markets where it has drawn the strongest following, such as South Africa, Australia and South Korea.
There has also been speculation about suspending the Michigan final, which would be a bad sign given that LIV has made team competition one of its defining features since its launch.
The tournament in Louisiana, which was due to be held in late June, has already been cancelled and has not been rescheduled, an earlier and serious warning sign about the circuit's chances of survival.
Rival tours strike Asian alliance
LIV received a cold shower two weeks ago when it emerged that the two major circuits, the US-based PGA Tour and Europe's DP World Tour, had struck an alliance with the Asian Tour through 2029 to build synergies.
The Asian Tour had acted as a crutch for LIV in recent years, helping integrate its tournaments into the ranking system so they earned points, which began counting this season. The agreement between LIV's two rival circuits and the Asian Tour has been read as a change of strategy driven by the weakening of its longtime partner.
O'Neil's last public comments
O'Neil's most recent public remarks came in a June 9 interview with CNBC, in which he said LIV had the foundation built and that the league felt encouraged by the response received from potential investors. He said LIV was fully focused on finding and securing long-term partners who believed in its mission to grow golf worldwide, and that returns would be incredible for anyone who invested in the business. He has consistently pointed to LIV's global ambitions and to players holding ownership stakes in the teams as part of the business.
