LIV Golf CEO Scott O’Neil announced on Wednesday that the struggling league is about to receive a $300 million infusion of much-needed cash to avoid a shutdown.
O’Neil has now confirmed reports that the struggling pro-golf tour is grabbing this lifeline to keep it alive, at least for a little while longer, the New York Post reported.
“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 at an event held at Trump National Golf Club Bedminster in New Jersey. “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.”
“Notably, 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,’’ he continued. “We anticipate finalizing terms in the coming weeks, with the goal of entering a transaction in September. In the meantime, our focus is on delivering a great week for fans and players at Bedminster and finishing the 2026 season strong.”
LIV has been in the midst of big cutbacks and even though its August 27-30 tournament at The Cardinal at Saint John’s Resort in Plymouth is still on the schedule, some reports have claimed it will be called off for lack of funding.
O’Neill has not confirmed the cancellation but has also not committed either way on the matter, according to the Detroit Free Press.
On top of that, officials at the course have confirmed that amenities have not yet been erected for the tournament, which is unusual for an event of that size being only weeks away.
LIV player Richard Bland told the media that “we’ve just got to wait and see” how things go but added that they are backing O’Neill.
“We’re in this together. We’re fully backing Scott,” he said. “I think probably in the next two to three weeks we’ll have a bigger picture. We’re just in that kind of stage at the minute that we’re positive with what’s going on, but we just need everything to be fully signed off so you can go forward.”
Some reports claimed that several of the pros are still waiting on millions to come through on the deals they signed with the tour. Player Jon Rahm, for instance, is rumored to still be waiting for half of his $300 million contract to be paid.
The storm clouds are gathering. Only a week ago it was reported the LIV is poised to file for bankruptcy to ease its debt burden.
The rumor of bankruptcy came just days after LIV Golf canceled one of its most highly financed and high-profile events, the $40 million Team Championship, as Breitbart News reported.
If the tour is to continue, it seems sure that new investors will be needed. Thus far, the organization’s original investor, the Saudi Public Investment Fund (PIF), has dumped a whopping $6 billion into the tour since 2022 with no return on investment to date.
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