Despite recent speculation surrounding the financial stability of LIV Golf, star player Jon Rahm claims he is not overly concerned about the breakaway league's future. Rumors have been circulating that LIV could lose its funding from Saudi Arabia's Public Investment Fund, which has been backing the format. However, Rahm insists he is focused on the present and preparing for tournaments, rather than worrying about the league's long-term prospects. The latest LIV Golf event in Mexico City got underway on Thursday, with Rahm shooting a round of 65 to place second.
In a statement, Rahm said he wasn't too worried about the rumors, as he believes that if there were any truth to them, he would have been informed by those in charge. The Daily Telegraph reported that LIV Golf executives had been summoned to an emergency meeting in New York, while the Financial Times stated that Saudi Arabia's Public Investment Fund was considering cutting its support for the league. LIV Golf launched in 2022 with significant financial backing, paying roughly $1 billion in signing bonuses to top players such as Bryson DeChambeau and Phil Mickelson.
The league has since expanded to 13 teams and increased its prize fund to $30 million. CEO Scott O'Neil remains optimistic about the league's future, citing its revenue growth and partnerships with major brands.
O'Neil believes that LIV Golf can continue to evolve and grow, and that the competition it provides is beneficial for the sport as a whole. Sky Sports News chief correspondent Kaveh Solhekol suggests that Saudi Arabia may be reevaluating its investment strategy, with a greater emphasis on return on investment.
However, Solhekol notes that Saudi Arabia is likely to continue investing in sports such as football, Formula 1, and golf, but with a more business-oriented approach.