CEO Scott O’Neil refused to guarantee the league’s remaining four events will go ahead as he scrambles to secure replacement funding following Saudi Arabia’s PIF withdrawal.
Speaking on CNBC, O’Neil confirmed he is seeking between $250 million and $350 million from outside investors to keep LIV Golf afloat. He has already held five formal meetings and has around 18 more scheduled this week alone.
“While we have incredible business momentum, what we don’t have is a lot of time,” O’Neil said. “We’re very urgently out there talking to those who are interested.”
When asked directly whether the final four events in the UK, New York, Indianapolis, and Michigan would go ahead, O’Neil sidestepped the question entirely.
“What I can guarantee is a heck of a return if you come invest in this business,” he said.
The Numbers Behind the Push
LIV Golf is projecting profitability within three years, with O’Neil pointing to revenue momentum already up $100 million year-on-year as a key selling point for potential investors. The league is also cutting costs dramatically and restructuring its business model.
“This is about getting costs under control, reimagining what the business could and should look like, and engaging players as true equity partners,” O’Neil said.
However, the picture is not straightforward. In a February interview O’Neil suggested profitability could be five to ten years away, and Front Office Sports reported this week that there is doubt among LIV executives that the league will complete its remaining schedule.
PIF has invested somewhere between $5 billion and $8 billion into LIV Golf since 2022 before announcing its withdrawal. O’Neil said he believes PIF will still fund the remaining four events of the current season.
“They’ve been very public about funding us through the season, so we are full steam ahead,” he said.
What Comes Next
The cancellation of LIV’s New Orleans event earlier this season created a 46-day gap in the schedule. LIV Golf’s next event is set for July 23-26 outside London at JCB Golf and Country Club, and securing new investment before then is critical.
An independent board was appointed in late April to lead the search for long-term financial partners following the departure of PIF governor Yasir Al-Rumayyan as chairman.
