LIV Golf are set to postpone their upcoming Louisiana event in the latest concerning development about the league’s financial situation.
A Louisiana television initially reported that tournament, scheduled for June 25-28, was in doubt before The Athletic reported that the event has officially been postponed.
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The news comes after multiple reports earlier this month of LIV facing an uncertain financial future.
Saudi Arabia’s Public Investment Fund are set to withdraw their funding for the breakaway league at year’s end as they shift the focus of their investment portfolio to technology and artificial intelligence.
The PIF have reportedly lost US$5 billion (A$7b) on LIV Golf.
The report of the Louisiana postponement stands in direction contradiction to comments made by LIV chief executive Scott O’Neil during their Mexico City event earlier this month.
Cameron Smith of Ripper GC reacts from the 9th green during day two of LIV Golf Mexico City.Source: Getty Images
The former CEO of the NBA’s Philadelphia 76ers, who replaced Australian golf icon Greg Norman, at the helm told LIV staff and players in a leaked email that the season “continues exactly as planned, uninterrupted and at full throttle.”
Television station WDSU alleged that the postponement has come about because the state of Louisiana has made the call to wait until LIV restructures financially and finds additional funding.
They are open to rescheduling the tournament, which is set to be the first of its kind at Bayou Oaks At City Park, which is located in the heart of New Orleans.
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That stance also goes against O’Neil’s comments in Mexico, where he said the funding issue would not come into play until 2027.
“The reality is that you’re funded through the season, and then you work like crazy as a business to create a business and a business plan to keep us going,” O’Neil said.
“But that’s not different from any other private equity-funded business in the history of mankind.”
The postponement means that LIV now have a sizeable gap in their schedule during the northern hemisphere summer.
They will not play between a tournament in Spain from June 4-7 and their UK event from July 23-26.
It means that their players will not have a LIV event to play the week before either the US Open or The Open Championship.