LIV golfers to hold majority ownership after | College News
One day after a LIV Golf players-only assembly failed to produce a decision, CEO Scott O’Neil announced Wednesday that a lead investor plans to fund the tour past this season and that the golfers will turn into the majority equity holders in the league.
The LIV Golf board of administrators permitted the time period sheet, O’Neill said, giving the league new life after the Saudi Public Investment Fund determined in April to stop its financial backing at the end of the current season. The PIF had backed LIV Golf since its inception in 2022, spending an estimated $6 billion.
O’Neil, who made the announcement at Trump National Golf Club in Bedminster, N.J., the positioning of this week’s event, didn’t determine the investor or phrases. He said the league hopes to finalize the transaction in September and that “our next chapter will make our players the majority equity holders in LIV Golf, a first for a major global sports league.”
“LIV Golf has an agreement in place with a lead investor, signed by the investor and approved by the board, to anchor the transaction and play a key role in supporting the path forward for the league’s next era, driven by and for the players,” O’Neil said in a assertion. “We’re also seeing strong interest from more than a dozen additional parties to potentially serve as minority investors, creating a multi-partner model built for long-term stability and growth.”
The players-only assembly on Tuesday at Trump National got here soon after O’Neil and other LIV Golf executives spoke to the gamers. The only participant to communicate at size with the media after the assembly was Richard Bland, who told the Athletic that Bryson DeChambeau had led the dialogue to comply with O’Neil’s lead, but that nothing definitive had been decided.
“We’re in this together. We’re fully backing Scott,” Bland said. “I think probably in the next two to three weeks we’ll have a bigger picture. We’re just in that kind of stage at the minute that we’re positive with what’s going on, but we just need everything to be fully signed off so you can go forward.”
O’Neil said in June that LIV Golf needed to secure roughly $300 million from outdoors personal equity or institutional traders to maintain operations through 2027 and past. He has been pitching “LIV 2.0” with a streamlined business model.
“What we don’t have is a lot of time,” he said in June. “So we’re very urgently out there talking to those who are interested. We like the pool, but we have to get this done through the summer.”
It seems O’Neil might need met the deadline, although questions stay unanswered. LIV has been mulling whether or not to cancel its Team Championship on Aug. 27-30 at the Cardinal in Plymouth, Mich., the ultimate event of the season. The purse is $40 million, money that instead might be earmarked for 2027.
O’Neil said that making gamers the majority equity holders “provides the league the muse to keep growing the sport worldwide…. In the meantime, our focus is on delivering a great week for followers and gamers at Bedminster and ending the 2026 season strong.’’
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