Liv Golf Players To Become Majority Owners After Mystery Investor Steps In To Keep League Afloat

One time aft a LIV Golf players-only gathering grounded to nutrient a resolution, CEO Scott O’Neil announced Wednesday that a lead investor plans to money nan circuit beyond this play and that nan golfers will go nan mostly equity holders successful nan league.

The LIV Golf committee of board approved nan word sheet, O’Neill said, giving nan convention caller life aft nan Saudi Public Investment Fund decided successful April to cease its financial backing astatine nan extremity of nan existent season. The PIF had backed LIV Golf since its inception successful 2022, spending an estimated $6 billion.

O’Neil, who made nan announcement astatine Trump National Golf Club successful Bedminster, N.J., nan tract of this week’s tournament, did not place nan investor aliases terms. He said nan convention hopes to finalize nan transaction successful September and that “our adjacent section will make our players nan mostly equity holders successful LIV Golf, a first for a awesome world sports league.”

“LIV Golf has an statement successful spot pinch a lead investor, signed by nan investor and approved by nan board, to anchor nan transaction and play a cardinal domiciled successful supporting nan way guardant for nan league’s adjacent era, driven by and for nan players,” O’Neil said successful a statement. “We’re besides seeing beardown liking from much than a twelve further parties to perchance service arsenic number investors, creating a multi-partner exemplary built for semipermanent stableness and growth.”

The players-only gathering connected Tuesday astatine Trump National came soon aft O’Neil and different LIV Golf executives said to nan players. The only subordinate to speak astatine magnitude pinch nan media aft nan gathering was Richard Bland, who told nan Athletic that Bryson DeChambeau had led nan chat to travel O’Neil’s lead, but that thing definitive had been determined.

“We’re successful this together. We’re afloat backing Scott,” Bland said. “I deliberation astir apt successful nan adjacent 2 to 3 weeks we’ll person a bigger picture. We’re conscionable successful that benignant of shape astatine nan infinitesimal that we’re affirmative pinch what’s going on, but we conscionable request everything to beryllium afloat signed disconnected truthful you tin spell forward.”

O’Neil said successful June that LIV Golf needed to unafraid astir $300 cardinal from extracurricular backstage equity aliases organization investors to prolong operations done 2027 and beyond. He has been pitching “LIV 2.0” pinch a streamlined business model.

“What we don’t person is simply a batch of time,” he said successful June. “So we’re very urgently retired location talking to those who are interested. We for illustration nan pool, but we person to get this done done nan summer.”

It appears O’Neil mightiness person met nan deadline, though questions stay unanswered. LIV has been mulling whether to cancel its Team Championship connected Aug. 27-30 astatine nan Cardinal successful Plymouth, Mich., nan last tourney of nan season. The purse is $40 million, rate that alternatively could beryllium earmarked for 2027.

O’Neil said that making players nan mostly equity holders “gives nan convention nan instauration to support increasing nan crippled worldwide.... In nan meantime, our attraction is connected delivering a awesome week for fans and players astatine Bedminster and finishing nan 2026 play strong.’’