Despite speculation surrounding the financial future of LIV Golf, star player Jon Rahm expressed that he is not overly concerned about the breakaway league's prospects. This comes as rumors have been circulating that LIV could lose its future funding from Saudi Arabia's Public Investment Fund, which has been backing the format.
The latest event, LIV Mexico, commenced at Club de Golf Chapultepec in Mexico City, with Rahm shooting a round of 65 to place second, three behind Victor Perez. When asked about the rumors, Rahm stated that until he receives confirmation from those in charge, he sees no reason to worry.
He emphasized the importance of focusing on the tournament at hand rather than speculating about the future. The Daily Telegraph reported that LIV Golf executives were summoned to an emergency meeting in New York, while the Financial Times suggested that Saudi Arabia's Public Investment Fund may be on the verge of cutting its support for LIV Golf. However, no final decision has been made.
LIV Golf launched in 2022 with significant signing bonuses for top players, including Bryson DeChambeau, Brooks Koepka, and Phil Mickelson. The league has since expanded and increased its prize money, with CEO Scott O'Neil expressing confidence in the circuit's financial trajectory. O'Neil noted that LIV Golf generated nearly half a billion dollars in sponsorship last year with major brands like Rolex and HSBC.
He acknowledged that the business will continue to evolve but emphasized the importance of growing the game of golf. O'Neil also pointed out that the competition LIV Golf brings is beneficial for the sport, citing the increased prize purses and the appeal to fans and television networks. The Saudi-backed league has contributed to a division within professional golf, with some notable players defecting to the breakaway tour.
Sky Sports News chief correspondent Kaveh Solhekol suggested that Saudi Arabia is reassessing its investment strategy, focusing on a more business-oriented approach. Solhekol noted that while Saudi Arabia will continue to invest in sports like football, Formula 1, and golf, they will do so with a greater emphasis on return on investment.