LIV Golf's CEO, Scott O'Neil, has alleviated concerns about the series' funding, stating that it is secured for the current season and that the organization will work diligently to ensure its continuation. This comes amid speculation that the Saudi Arabian Public Investment Fund (PIF), which backs the breakaway golf league, may withdraw its financial support.
The PIF's potential decision to end its backing has sparked significant interest, with the series reportedly receiving nearly $5 billion in funding since its inception in 2021. O'Neil addressed these concerns, saying, 'We have commitments to keep this going as a going concern.' He further emphasized that the reality of being funded through the season and then working to create a business plan is not unique to LIV Golf, but rather a common practice among private equity-funded businesses. Earlier in the week, O'Neil informed LIV staff that the season would proceed as planned, without making any references to the future beyond the current season.
The PIF has not commented on the matter, but reports suggest that LIV Golf executives were summoned to an emergency meeting in New York, and the Financial Times reported that the PIF is on the verge of ending its funding to the league. Despite these reports, no official decision has been made.
The situation has caused some confusion among LIV Golf players, with some seeking reassurances from the organization's leaders. However, Jon Rahm, a Ryder Cup star, expressed that he is 'not too worried' about the future of LIV Golf, stating that he would wait for official confirmation before considering the rumors.