New York (AFP) – LIV Golf has reached a deal with a lead investor to keep the series playing beyond the end of the 2026 season, LIV chief executive officer Scott O’Neil said Wednesday. Speaking at this week’s LIV Golf New York event at Trump National in Bedminster, New Jersey, O’Neil provided the first glimpse of what LIV might resume after the pullout of financial support by Saudi Arabia’s Public Investment Fund.
“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 statement. “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.”
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LIV began in 2022 and lured some of golf’s top names from the PGA Tour, which banned LIV golfers from its events. Saudi officials withdrew their backing of the series, however, after promising to keep LIV afloat through the 2026 campaign, which is set to conclude later this month. O’Neil has sought up to $300 million in backing from new sponsors to produce a season in 2027 and beyond.
“Notably, our next chapter will make the players the majority equity holders in LIV Golf, a first for a major global sports league, and gives the league the foundation to keep growing the game worldwide,” the statement said. “We anticipate finalizing terms in the coming weeks with the goal of entering a transaction in September. In the meantime, our focus is on delivering a great week for fans and players at Bedminster and finishing the 2026 season strong.”
© 2024 AFP
