LIV Golf CEO Scott O’Neil has introduced that the fledgling tour has discovered a thriller new investor after confirming it’s set to land an enormous $250million money injection.
The insurgent golf circuit, which launched in 2022 with the monetary backing of the Public Funding Fund of Saudi Arabia, paid nine-figure bonuses to lure high gamers like Brooks Koepka, Dustin Johnson, Bryson DeChambeau and Jon Rahm away from the PGA Tour, providing $20m prize funds.
Nevertheless it all started to crumble earlier this 12 months when PIF stated it might not fund it after the 2026 season. One occasion in New Orleans already was scrapped.
Weeks later, a bombshell report from The New York Post on the finish of July claimed that LIV Golf has been given a shock new $250m lifeline simply because the tour appeared to be lifeless within the water.
And on Wednesday, O’Neil confirmed it has obtained monetary backing from an unnamed investor.
‘LIV Golf has an settlement in place with a lead investor, signed by the investor and authorized by the Board, to anchor the transaction and play a key position in supporting the trail ahead for the League’s subsequent period, pushed by and for the gamers,’ he stated.
LIV Golf CEO Scott O’Neil has introduced that the tour has discovered a thriller new investorÂ
The insurgent circuit seemed lifeless within the water when Saudi’s PIF not too long ago pulled the plug on funding
‘We’re additionally seeing robust curiosity from greater than a dozen extra events to doubtlessly function minority traders, making a multi-partner mannequin constructed for long-term stability and progress.
‘Notably, our subsequent chapter will make our gamers the bulk fairness holders in LIV Golf, a primary for a serious international sports activities league, and provides the League the muse to continue to grow the sport worldwide.’
O’Neil stated he anticipated to finalize phrases with the lead investor within the subsequent few weeks with the aim of getting it executed in September. The plan for what’s being known as ‘LIV Golf 2.0’ is for 10 crew occasions every year, 5 of them in the USA and 5 others around the globe.
It additionally desires to stage occasions main into the majors and having a schedule that permits its gamers to compete on different circuits. Jon Rahm and Tyrrell Hatton already play on the European tour. The PGA Tour nonetheless has a one-year ban for anybody competing on LIV.
LIV is ready to play in Indianapolis from August 20-23. The season-ending crew championship in Michigan has been doubtful for a number of weeks, primarily as a result of the course has not even begun organising for a event scheduled to start out in three weeks.
O’Neil met with crew captains on Tuesday, and Bryson DeChambeau led a player-only assembly later within the afternoon, although few of the gamers shared particulars.
Bryson DeChambeau led a gamers’ assembly concerning the standing of upcoming LIV occasions Tuesday
‘I don’t know… we’ve simply obtained to attend and see on that,’ Richard Bland, one of many solely LIV gamers who commented Tuesday, stated when quizzed on the crew championship in Michigan.
Throughout the gamers’ assembly, Bland stated DeChambeau ‘simply ran by way of what he is aware of, and clearly, we’re attempting to do it as a gaggle, however we’re people as effectively, so I feel the following two to a few weeks goes to be the place it’s at.
‘We’re on this collectively. We’re totally backing Scott. I feel most likely within the subsequent two to a few weeks we’ll have a much bigger image.Â
‘We’re simply in that form of stage on the minute that we’re optimistic with what’s occurring, however we simply want every little thing to be totally signed off so you may go ahead.’
