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| Anthony Kim, Dustin Johnson, Thomas Pieters and Thomas Detry of 4Aces GC during day four of LIV Golf Virginia at Trump National Golf Club on May 10, 2026. Getty Images via AFP |
TORONTO – LIV Golf said on May 19 that it remains focused on securing a transaction that positions the organisation for the long-term, in response to a report that said the rebel circuit has begun laying the groundwork for a potential US bankruptcy filing as a last resort if it fails to raise new funds.
Saudi Arabia’s Public Investment Fund (PIF), which has spent more than US$5 billion on LIV Golf since it launched in 2022, said in April that investing in the league no longer fit with its investment strategy.
The PIF’s decision to cut LIV Golf’s funding at the close of the 2026 season has now left the breakaway circuit scrambling for new backers and raises questions about the future of its big-name players on lucrative contracts.
A Bloomberg News report earlier on May 19 said that LIV Golf is weighing options, including seeking new investors, but it is also bracing for the league’s possible collapse after the season ends in August.
When asked about the report, a LIV Golf spokesperson declined to confirm it, saying only that the league remains focused on building a sustainable future and is exploring multiple paths.
“Leadership is focused on identifying the right long-term strategic partners who believe in our mission to grow the game of golf worldwide,” the spokesperson told Reuters.
“These conversations are just getting under way, and as they progress, the company expects to gain further clarity around the structure and timing of a potential transaction.”
LIV Golf CEO Scott O’Neil, speaking to reporters two weeks ago in his first press conference since the PIF announced that it was pulling its funding, said he had heard from plenty of potential investors.
“It was a split between private equity, family office and then your traditional like high net worth – you probably know who they are, the guys who invest in sports and sports teams. So that’s been really positive,” he said.
“It’s still early. We haven’t gotten to market yet. We haven’t finalized our business plan. We’re still picking and prodding. We have a good sense at this point... we know where we’re going, and we’re just going to tighten the screws.”
He also said earlier this week he is seeking as much as US$250 million in investment capital beyond this year, according to an Axios report.
According to the report, LIV Golf is letting it be known to prospective investors that an infusion of US$250 million will make the league profitable within two years.
LIV has previously said it posted a 100 per cent increase in revenue year-on-year this season and was convinced that the team golf model would be highly attractive to investors.
Through big-money contracts and lucrative purses, LIV managed to lure a number of golf’s biggest names from the PGA Tour, including Bryson DeChambeau, Jon Rahm, Phil Mickelson, Dustin Johnson, Brooks Koepka and Patrick Reed.
LIV Golf launched in 2022 with the backing of the PIF and critics have decried it as a vehicle for the country to attempt to improve its reputation in the face of criticism of its human rights record, which the Saudi government denies.
- REUTERS
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