LIV GOLF FOCUSED ON LONG TERM DUNDING SOLITION AMID OF POTENTIAL BANKRUPTCY PLAN

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

LIV GOLF SEEKS 'LONG-TERM FINANCIAL PARTNERS' AS SAUDI ARABIA'S PIF CONFIRMS EXIT

 

[US, Mexico & Canada customers only] Feb 5, 2026; Riyadh, SAUDI ARABIA; Bryson DeChambeau in action during the second round of play at LIV Golf Riyadh at the Riyadh Golf Club. Mandatory Credit: Reuters via Imagn Images

LIV Golf plans to continue without the financial backing of Saudi Arabia's Public Investment Fund, touting "100% year over year" financial growth in 2026.

The Public Investment Fund (PIF) formally announced it would end financial support of LIV Golf at the end of the 2026 season.

"PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season," a PIF statement read Thursday. "The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy. This decision has been made in light of PIF's investment priorities and current macro dynamics."

Under a reshaped model, LIV established a new, independent board and envisions further commercial agreements to stabilize the intended PGA Tour competitor.

"LIV Golf is transitioning from a foundational launch phase to a diversified, multi-partner investment model, with a formal process underway to attract long-term financial partners," the circuit said in a statement Thursday, hours after learning the financial underpinning from the PIF was ended.

Signs of a fracture in the PIF-LIV emerged earlier this year and simmered to the surface last week, when ESPN obtained an email LIV CEO Scott O'Neil sent to staff claiming the 2026 season will continue "exactly as planned, uninterrupted and at full throttle." He made no mention of LIV's future beyond 2026, however.

LIV said the new board will be headed by Eugene Davis, the Chairman and Chief Executive Officer of PIRINATE Consulting Group LLC and Jon Zinman, the founder and managing member of JZ Advisors LLC. They are tasked primarily with "institutionalizing the league, formalizing its ownership structure, and evaluating the range of strategic opportunities," LIV Golf said Thursday.

Founded in 2021, LIV Golf made its debut in June 2022 and used lavish, guaranteed contracts to lure dozens of stars like Dustin Johnson, Phil Mickelson, Jon Rahm and Bryson DeChambeau away from the PGA. PIF has provided LIV with more than $5 billion, but the league has reportedly lost millions of dollars per year. Earlier this month, Yasir Al-Rumayyan, PIF's governor and LIV's main financial backer, shared a plan for the kingdom to cut back on international investments and focus on more domestic projects.

DeChambeau, Cameron Smith and Rahm reportedly turned down the opportunity to return to the PGA Tour earlier this year. According to MSN.com, some LIV players have reached out to the DP World Tour.

--Field Level Media

PHIL MICKELSON'S PGA TOUR APOLOGY DEMAND, £750K ACCUSATION, MESSAGE TO DONALD TRUMP'S DOJ

Phil Mickelson has fired numerous shots at the PGA Tour ever since he was first linked with the Saudi-backed LIV Golf.

Phil Mickelson has taken regular shots at the PGA Tour over the past three years (Image: Getty)

Phil Mickelson's feud with the PGA Tour has continued after Wesley Bryan was suspended for participating in a LIV Golf event. Earlier this month, LIV introduced The Duels, a new format that saw six professionals from the Saudi-sponsored circuit team up with social media influencers.

Stars such as Sergio Garcia, Bubba Watson, Dustin Johnson, plus Mickelson and Bryan, were all part of the mix. Bryan, who has barely figured on the PGA Tour recently, seized the opportunity presented by LIV after gaining prominence as a content creator with a successful YouTube channel. Although he doesn't have an active PGA Tour card, his involvement led to him being suspended by the tour, with an infuriated Mickelson taking to social media to demand an intervention by Donald Trump's Department of Justice. "Here's a question," he began. "Normally when an entity violates independent contract law, they deny that it happened and forces the contractor/individual to prove that it did.

"In this case, the PGA Tour blatantly admits they are illegally banning an independent contractor, so why doesn't they DOJ step in and enforce the law? Why does the individual have to sue to enforcer the law? DOJ do your f****** job!" It was the latest in a long list of grievances Mickelson has aimed at the PGA Tour since his involvement with LIV Golf was first mooted three years ago...

'Greedy' accusation

Mickelson stirred controversy even before the LIV was launched. 'Leftie' openly criticised the PGA Tour with accusations of greed, particularly over the issue of media rights. "There are many issues, but that is one of the biggest," he said in an interview with Golf Digest.

"For me, personally, it's not enough that they are sitting on hundreds of millions of digital moments. They also have access to my shots, access I do not have. They also charge companies to use shots I have hit. And when I did 'The Match' - there have been five of them - the tour forced me to pay them $1million each time.

The three-time Masters champ has never been one to mince his words (Image: Getty)

"For my own media rights. That type of greed is, to me, beyond obnoxious." Adding to his grievances, Mickelson asserted that the Tour controls an estimated "roughly $20billion" (£15bn) in media assets and countless digital memories that, in his opinion, rightfully belong to the players.

The Tour defended itself against Mickelson's remarks, maintaining that the majority of players are satisfied with how the organisation operates. One executive countered Mickelson's assertions to GOLF.com, saying: "I've never seen anybody be really interested in how we generate the money.

"There's some conversation about it now because, you know, Phil's making stuff up that's just not true. But in general, they're happy that there's a lot of money that comes from it."

Mickelson was left furious by Wesley Bryan's suspension (Image: Getty)

Moreover, the Tour emphasises that over half of its approximately $1.5m [£1.13m] yearly revenue is apportioned to the players, aligning with the norms of other professional sports organisations.

Monahan criticism

Mickelson hasn't held back in his criticism of PGA Tour commissioner Jay Monahan. In November 2023, Mickelson weighed in on rumours that Monahan might be ousted from his position if a deal between the Tour and PIF was struck.

He took to social media to assert that "golf is in this situation entirely because of [Monahan]". He accused him of "losing trust with his players" and stated that "there's no unity or path forward with [Monahan] involved in my opinion as well".

Jay Monahan has been slammed by Mickelson (Image: Getty)

'$1billion peace offer'

Mickelson also disclosed a $1bn [£750m] peace proposal he had offered to the Tour before jumping ship to LIV. He said: "Before I left I brought a $1bn commitment from a current PGA Tour partner to have 8 elevated events and give equity and ownership in these events to the players. JM's quote was: 'I don't believe the league is going to happen so we won't be doing that'. No vote, no discussion."

Apology demand

A year into the existence of LIV, Mickelson called for an apology from the PGA Tour. That followed suggestions in a leaked memo that those who had publicly criticised the PGA Tour would face harsher treatment than other defectors if they performed a U-turn.

Mickelson said: "What a colossal waste of time. Not a single player on LIV wants to play PGA Tour. It would require a public apology and restitution to LIV players for paying millions to Clout media to disparage all of us. A better topic is future sanctions for the many players who now come to LIV."

Mickelson was complaining about the PGA Tour even before leaving for LIV (Image: Getty)

Woods dinner snub

PGA Tour loyalist Tiger Woods reportedly orchestrated a pointed snub to Mickelson by blocking him from attending a private dinner celebrating past champions before the 150th Open Championship at St Andrews in 2022.

According to revelations in Alan Shipnuck's book 'LIV and Let Die', it was claimed by an anonymous source: "He (Woods) talked to a handful of other [past champions] to get their blessing and then went to the R&A and told them, basically, no one wanted Phil there and it would make the night weird and awkward. Whose side were they going to take, Tiger's or Phil's? That's an easy choice."

Talking up LIV

Mickelson continues to be a vocal supporter of LIV Golf. Explaining his standpoint on The Joe Pomp Show earlier this year, Mickelson shared his perspective on why their events are more family-friendly.

Tiger Woods blocked Mickelson from attending a private dinner at The Open, it was claimed (Image: PGA TOUR via Getty)

"You go to a LIV event, you feel different," he said. "Here's why: You have music going when you're out on the course. We don't hear little people saying stuff.

"So you're not as anxious about having your kids be quiet. There's a fan zone like on the course where you can sit down, take a break, grab some drinks. It's like a little hang. You can take a nap.

"They have a kid zone by the clubhouse where, again, you can take a nap, play putt-putt, play games for them and entertain them with a big screen so you can still see what's going on with the golf.

"So when you go there, you feel calm. You feel comfortable. It's like, 'OK, our kids had a great time. I was relaxed. I wasn't worried'. I think that's the number one reason why LIV is going to be successful."

- MARK WHILEY

EXCLUSIVE: SAUDI WEALTH FUND TALKS TO CREATE BOXING LEAGUE

Reuters 

 Saudi Arabia's Public Investment Fund (PIF) is in discussions with multiple boxing stakeholders to create a league, potentially reshaping the competitive landscape of the sport, people familiar with the matter told Reuters.

PIF is looking to invest in a joint venture with some of the sport's stakeholders that would feature more boxing bouts, the people said, speaking on condition of anonymity.

A handful of leading promoters including Matchroom Boxing and Golden Boy Promotions are involved in the discussions that could result in a deal valuing the new entity between $4-5 billion, one of the people said. PIF wants to create a venture that would bring the main sport's organisers together, in which it would take a minority stake, the person added.

Turki al-Sheikh, a close advisor to Crown Prince Mohammed bin Salman who has been heavily involved in the sports sector and is chairman of the Saudi General Entertainment Authority, was overseeing the final discussions around a potential deal about a month ago, a second person added.

Reuters could not establish the details around how a league would be structured.

PIF and Matchroom Boxing declined to comment and Golden Boy Promotions did not respond to requests for comment.

Currently the sport is made up of boxing organisations including the World Boxing Council, the International Boxing Federation, the World Boxing Association, and the World Boxing Organisation, which each have their own rules for championship belts.

Saudi Arabia has poured billions of dollars into sport as it seeks to wean the kingdom off of oil dependency under de-facto ruler Crown Prince Mohammed's Vision 2030 program, which aims to bring in tourism, boost the private sector, and create jobs.

Boxing is the latest sport to attract possible investment from the PIF, which is chaired by the crown prince, after deals across golf, Formula 1, and football. The fund has also been considering an investment in a new cycling league, Reuters has reported.

"Boxing has the potential to attract awareness for investors to the kingdom," said Sebastion Sons, senior researcher at consultancy CARPO.

"By investing in sport, Saudi Arabia wants to get more market access, establish new political and economic networks, wants to gain attraction as a tourist destination, and also wants to raise global awareness for the transformation Saudi Arabia is undergoing."

The PIF shook up the world of golf by funding the LIV Golf series, in a move that created a rivalry with the PGA Tour and led to a shock deal to merge the tours that was announced last year.

That deal is now at risk after talks between the PGA and LIV have stalled and as a U.S. senate panel called it an attempt by Saudi Arabia's government to "buy influence" in U.S. sports.

Critics accuse the country of using its sovereign wealth fund to engage in "sportswashing" in the face of heavy criticism of Saudi Arabia's human rights record.

“If sport washing is going to increase my GDP by way of 1%, then I will continue doing sport washing,” the crown prince told Fox News last year.

The kingdom has already hosted some of boxing’s biggest fights and events. "There is big opportunity in boxing" Al-Sheikh told ESPN earlier this year. "But you must improve the market."

SURJ Sports Investments, previously called SRJ Sports Investments and owned by PIF, bought a stake in the United States' Professional Fighters League in August 2023.

Since then, boxers like heavyweight Tyson Fury have made their way to Riyadh for fights, attended by Cristiano Ronaldo, who joined the kingdom’s soccer league last year.

RAHM TO STAY AWAY FROM PUBLIC EVENTS AFTER JOINING LIV GOLF

Reuters 

Masters champion Jon Rahm said on Wednesday that he had decided to lay low and would avoid public events until February after agreeing to jump from the PGA Tour to the Saudi-backed LIV Golf in a big-money move that made headlines across the globe.

In his first appearance after signing with the rebel circuit funded by Saudi Arabia's Public Investment Fund (PIF), the 29-year-old Spaniard was surprised to find TV cameras at an event he was attending in the northern Spanish city of Bilbao.

"I didn't think there would be any cameras and that it would be a bit more intimate," Rahm told a select audience at the Sociedad Bilbaina hall, who appeared to be outnumbered by media professionals.

Rahm was there to receive the 'Dama Bilbaina 2023' prize awarded by the private club founded in 1839 in his native Basque Country, in recognition of his sporting career.

"I am under very strict instructions not to do public events, which I have imposed on myself a little bit for myself, and for the change I have given to the world of golf in the last week," Rahm said, giving a categorical "No!" when asked if he was planning to give an interview.

"There will be nothing until February, I'm not allowed to."

WOODS 'FRUSTRATED' THAT PLAYERS WERE LEFT OUT OF PGA-LIV MERGER TALKS

Reuters 

Tiger Woods was left "frustrated" by the lack of player involvement in the PGA Tour's talks with Saudi Arabia's Public Investment Fund (PIF) before their announcement of a framework agreement, the 15-times major winner said on Tuesday.

The PGA Tour, Europe-based DP World Tour and the PIF-backed LIV Golf circuit agreed to unify and move forward in a larger commercial business in June after an acrimonious legal battle lasting more than a year.

The agreement stunned the golf world and raised concerns in Washington over Saudi Arabia's role in the deal and the risks posed by a foreign government entity assuming control over the sport.

Critics have accused the PIF of being a vehicle for the country to improve its reputation, or "sports-washing," as it faces criticism of its human rights record.

The framework agreement is set to expire on Dec. 31 and while Woods said there were "multiple options" they still wanted a deal done by the end of the year.

PGA TOUR OFFICIAL TO DEFEND SAUDI-BASED LIV TIE-UP BEFORE US SENATE PANEL

Reuters

Two officials from the PGA Tour go before a Senate panel on Tuesday to defend the U.S.-based golf tour's decision to end a rivalry with the Saudi-backed LIV circuit and form a unified commercial entity.

Ron Price, chief operating officer of the PGA Tour, and board member Jimmy Dunne are to testify before the Senate Permanent Subcommittee on Investigations, said Senator Richard Blumenthal, chair of the committee, and Ron Johnson, the top Republican.