LIV Golf has reached an agreement with an unnamed lead investor to secure its financial future after Saudi Arabia's Public Investment Fund withdrew its funding. Chief executive officer Scott O'Neil said the deal has been signed by the investor and approved by the board, with finalization expected in September.
Under the restructuring arrangement, players will become majority equity holders in LIV Golf, marking a first for a major global sports league. The circuit also plans to center its annual schedule around 10 team events and five global Team Majors staged across different continents.
Multi-partner investment model
Saudi Arabia's Public Investment Fund announced in April that it would end funding for LIV Golf at the end of the 2026 season. The fund stated that the breakaway league was no longer compatible with its future investment strategy, casting doubt over the circuit's future and prompting a board restructuring to search for long-term financial partners.
O'Neil told Sky Sports News that LIV Golf is building a multi-partner model alongside the new lead investor. He stated that more than a dozen additional parties have shown strong interest in serving as minority investors to support long-term growth and stability.
"LIV Golf has an agreement in place with a lead investor, signed by the investor and approved by the Board, to anchor the transaction and play a key role in supporting the path forward for the League's next era, driven by and for the players," O'Neil said. "We're also seeing strong interest from more than a dozen additional parties to potentially serve as minority investors, creating a multi-partner model built for long-term stability and growth."
"Our next chapter will make our players the majority equity holders in LIV Golf, a first for a major global sports league, and gives the league the foundation to keep growing the game worldwide," O'Neil added.
Player meeting and reaction
O'Neil called the investment agreement good news and expressed appreciation to the Public Investment Fund for allowing LIV Golf time to secure new backers. He noted that the fund was not required to provide a transition period while the league searched for investment.
Players were informed of the new arrangement on Tuesday ahead of this week's LIV Golf New York event, with O'Neil reporting good excitement across the league. On the same day, two-time US Open champion Bryson DeChambeau led a players-only meeting at Trump Bedminster.
O'Neil was not invited to the gathering but said players held robust conversations that had a positive impact on the league's direction. Although the chief executive remained tight-lipped regarding specific financial terms, he said the league has a solid foundation moving forward.
Future of star contracts
The investment agreement comes as LIV Golf seeks to secure long-term deals with its top stars, including DeChambeau and Jon Rahm. DeChambeau's current contract expires at the end of the 2026 season, and the American is understood to be seeking a new contract worth around $500 million (£370.5 million).
Fulfilling that contract demand appeared unlikely during the league's recent funding crisis, but DeChambeau expressed optimism about reaching a deal. O'Neil shared that optimism, saying the new backing improves the league's position to retain major talent.
O'Neil explained that LIV Golf aims to enter an era of free agency while working together with other professional golf tours. "I would certainly love them to come along for the ride and journey because they carry maybe more weight than anybody in the game and I have a lot of time for that," O'Neil said.
"I think we have enough support from enough players, and we have such an interesting format and global format, I think we'll do quite well in getting the right stars for this game," O'Neil added.
