LIV Golf CEO Scott O'Neil has moved to alleviate concerns about the league's financial future, confirming that the 2026 season will proceed as planned without interruption. This comes after a day of reports suggesting that Saudi Arabia's Public Investment Fund, which financially backs LIV Golf, might be reconsidering its support.
Despite these rumors, O'Neil emphasized in a memo to staff that the season will continue 'at full throttle.' The memo followed reports of an emergency meeting in New York and speculation about the fund's commitment to LIV Golf. The league has already spent $5.3 billion and is projected to surpass $6 billion by the end of the year. While the memo did not provide clarity on the long-term funding, O'Neil expressed confidence in the league's future, stating that they are pioneers in the golf world and their destination is worth the challenges they face. The situation has left players seeking reassurance, with Sergio Garcia noting that they are aware of rumors but are focusing on the project at hand.
The news comes as LIV Golf prepares for its event in Mexico, with the league promoting the event on social media. The league has faced significant challenges since its launch, including the departure of notable players like Brooks Koepka and Patrick Reed. LIV Golf has been at the center of a division within professional golf, with its emergence contributing to a rift between players who have defected to the breakaway tour and those who remain loyal to the PGA Tour and DP World Tour.
The Saudi-backed league started with 12 teams and 48 players but has since expanded to 13 teams. Sky Sports Golf pundit Paul McGinley noted that the situation is a fast-developing story and that there must be some truth to the speculation. McGinley also highlighted the leverage that professional golfers have gained in recent years, citing Phil Mickelson's comments on the matter. The news has sparked discussion about the future of golf, with some speculating that a period of adjustment may be needed to address the 'false economy' created by Saudi Arabia's significant investments in the sport.