LIV Golf Secures 'Heavyweight Investment,' Players to Become 'Majority Equity Holders'

Not long ago, the Saudi Public Investment Fund (PIF) announced it would stop funding LIV Golf after the 2026 season, leaving the tour in a difficult position. Now, management seems to have resolved the issue:

CEO Scott O'Neil said this Wednesday that LIV has secured a new investor, and a "heavyweight" one at that. He also noted that during the fundraising process over recent months, many investors expressed strong interest in the tour and hoped to participate as co-investors.

Details of the deal remain confidential for now. Previously, sources said LIV had locked in a $250 million investment.

O'Neil mentioned at a press conference in New Jersey on Wednesday that this investment will provide funding for LIV to operate through 2027. More importantly, the new agreement will also make tour players "majority equity holders."

Players will also regain commercial rights to their name, image, and likeness, and can compete in other global tours, granting them greater autonomy in personal branding and partnerships.The specific form remains to be seen, but the result is a new vision the league calls "LIV 2.0.".

LIV Golf will undergo a series of changes:

• The schedule will be reduced from 14 events to 10, including five "majors" in Australia, South Africa, Hong Kong, Mexico, and the UK, and five events in the United States. Previously, the league's international events saw some success, but the U.S. events had less impact.
• Prize money will also change. It is expected that LIV's current $30 million purse will be reduced to less than $20 million, possibly even below $15 million, in order to streamline available capital heading into next season..

Previously, PIF had invested over $6 billion in LIV, offering higher prize money than any other golf tour. Without Saudi funding, LIV has struggled, and recently was sued by a supplier for failing to make contractual payments. (Related reading from Orange Bay Sports: LIV Golf is Facing Withdrawal of Saudi Arabia's PIF)

Now the league enters a new chapter, but its sustainability remains to be seen. O'Neil is confident about the future: "This is a very exciting day, to lead a league that is majority-owned by players, which has never happened in sports history.

I think the more players can communicate, connect, collaborate, and come together, the better. Golf has always been a highly individual sport, and I think this idea of bringing players together in teams could foster a form of collaboration unlike anything golf has seen before, but I fully support what's happening and the direction we're heading."

| Sources: Official press release; Golf Digest; ESPN; CNBC; Golf Weekly

| Image credit: LIV Golf official website