LIV Golf secures lead investor through 2030 but top players’ futures remain uncertain
LIV Golf announced on Wednesday that a “lead investor” has signed a term sheet that will underwrite the tour through 2030, but its chief executive warned the deal is unlikely to prevent a number of high-profile players leaving by the end of this year.
The announcement came as Scott O’Neil, LIV’s chief executive, outlined plans for a “next generation” of the tour while declining to name the new funders after the withdrawal of backing from Saudi Arabia’s Public Investment Fund. O’Neil said he had been engaged in a race against time to secure the business following that withdrawal and confirmed players’ existing contracts are linked to current terms.
Under LIV’s present structure there are 14 events per year with prize funds of $30m per tournament split between individual and team prizes, but the plan from 2027 is understood to centre on a core of 10 events worth $10m each and to give players the majority of equity in the business. The tour has lost huge sums, with an estimated $5bn of Saudi money having been essential to its operation since formation in 2021.
O’Neil said: “We’re very fortunate that a lead investor has signed a term sheet approved by our board, which will carry and fund LIV going forward. It’s very good news for us. At this point we are keeping the details of the deal, the investor, and much of what you might want to know in this second phase out of the media.”
Asked whether the conclusion of the deal will protect the 2027 season, O’Neil replied: “And 28 and 29 and 30.” He also insisted the investor is one “of weight”.
On the futures of Jon Rahm and Bryson DeChambeau, O’Neil said: “I have all the time in the world for Jon Rahm and Bryson DeChambeau. I think I’d be remiss in saying they’re not only two of the biggest, best golfers on the planet, but I think they’re some of the biggest stars in sports, let alone golf. [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. 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.”
DeChambeau’s situation is further complicated in the tour’s account by what it described as perceived mutual indifference between him and the PGA Tour and by the Californian’s public consideration of switching toward YouTube golf; other names singled out as intriguing choices for their future playing domain include Cameron Smith, Tyrrell Hatton and Dustin Johnson.
It is expected the scenario will crystallise by the end of August, with precise detail of who will play on LIV in 2027 to be disclosed then.