Despite speculation surrounding the financial future of LIV Golf, Jon Rahm, one of the league's top players, claims he is not overly concerned. Rumors have been circulating that LIV could lose its funding from Saudi Arabia's Public Investment Fund, which has been supporting the breakaway league. However, Rahm insists that until he receives confirmation from those in charge, he will not waste time worrying about it.
LIV Golf's latest event in Mexico City experienced some technical difficulties, but the tournament is proceeding as scheduled. Rahm shot a round of 65, placing him second behind Victor Perez.
In a statement, Rahm stated that 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 now. 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 has already spent $5.3 billion and is projected to surpass $6 billion by the end of the year. The league's CEO, Scott O'Neil, remains optimistic about the future of LIV Golf, citing its growth and revenue increases. O'Neil believes that the league will continue to evolve and improve, and that it has the potential to become a successful business.
He also stated that LIV Golf is looking to blend its format with national opens, which he believes are underappreciated and underdeveloped assets in golf. The emergence of LIV Golf has contributed to a division within professional golf, with some top players defecting to the breakaway tour. The Saudi-backed league has expanded to 13 teams and has increased its prize fund to $30 million. However, it has lost notable players such as Brooks Koepka and Patrick Reed in recent months.
Sky Sports News chief correspondent Kaveh Solhekol believes that Saudi Arabia is reevaluating its investment in sports, and that it will be more cautious in the future. Solhekol states that Saudi Arabia wants a return on its investment and will only back projects that make sense from a business perspective.