LIV Golf cannot stay out of the headlines and the latest came Thursday when the Financial Times reported that Saudi Arabia\u2019s Public Investment Fund (PIF) has only funded a third of what the league needs to cover for the rest of this season.<\/p>\n
The report says that LIV Golf needs $600 million to make it through the end of its 2026 schedule. The PIF has only delivered just short of $200 million\u2014$66 million in early May, $130 million in early June\u2014since news broke in April that it would stop funding the tour after the end of this year. The Financial Times report cites two people close to the situation who said that the PIF\u2019s incentive to spend more money for LIV Golf \u201cwould diminish the longer LIV went without securing a new backer.\u201d LIV Golf CEO Scott O\u2019Neil has been vocal about saying he and other top officials are actively seeking investors for the league to continue beyond this year.<\/p>\n
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PIF declined to comment to the Financial Times but told it to look back on its original statement that said, \u201cPIF has made the decision to fund LIV Golf only for the remainder of the 2026 season. The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF\u2019s investment strategy.\u201d<\/p>\n
Only four events remain on the LIV Golf schedule, the next one July 23-26 in the United Kingdom. A report from Front Office Sports earlier this week quoted a high-ranking LIV Golf executive who said, \u201cevery remaining tournament is on the fence.\u201d The event scheduled for New Orleans late this month was postponed last month, but there\u2019s been no word on a rescheduled date, leading to implications that it will not be played.<\/p>\n
In an interview on CNBC this week, O\u2019Neil was asked<\/a> if he could guarantee if the four remaining events would be played.<\/p>\n \u201cWhat I can guarantee is a heck of a return if you come invest in this business,\u201d O\u2019Neil said. LIV Golf\u2019s streaming service was cut<\/a> last month to save costs.<\/p>\n Advertisement<\/p>\n