LIV Golf has enlisted a heavyweight team of financial advisers in a desperate attempt to secure a multi‑billion‑dollar funding lifeline after its Saudi sovereign backers signaled a withdrawal of support, according to Sky News reporter Mark Kleinman. The organization has turned to restructuring specialists at the consulting firm AlixPartners to draft a fresh business plan aimed at attracting external capital. Sources close to the sport say LIV Golf is also on the verge of retaining a top‑tier investment bank to spearhead its capital‑raising efforts as it begins formal discussions with potential investors.
The confirmation that Saudi Arabia's Public Investment Fund (PIF) will cease its financing of LIV Golf at the end of the current season has triggered a frantic scramble to rescue a competition that features some of the world's most prominent golfers, including Jon Rahm and Bryson DeChambeau. Insiders note that AlixPartners' involvement could also be interpreted as preparation for a contingency plan, possibly a wind‑down or insolvency process, should new investors fail to materialise in the coming months. One source, however, emphasized that the firm’s role is primarily to develop "a well‑developed, credible financial plan for potential investors," while acknowledging that the board will "evaluate all options for LIV." In a statement to Sky News, a LIV Golf spokesperson said: "LIV Golf has engaged experienced advisers across disciplines to identify and secure long‑term strategic investment partners and guide us through our next phase." LIV Golf's Saudi backers have poured billions of dollars into trying to position the breakaway tour as the premier global force in one of the world’s most popular sports.
After writing massive cheques to lure top talent away from the PGA Tour, the prospect of profitability has remained elusive. For example, Jon Rahm reportedly signed a contract worth $300 million (£222 million) to join the LIV circuit, and other high‑profile players have received similarly sizable payouts. Now in its fourth full season, the LIV Golf League comprises 13 teams competing for individual and team titles at prestigious courses worldwide.
The tournaments feature 57 players from 21 nations, spanning ten countries across five continents. This week, LIV Golf announced the appointment of two restructuring specialists—Jon Zinman and Gene Davis—to its board of directors as it seeks external backing for the first time. "LIV Golf has built something truly differentiated—a global league with passionate fans, world‑class talent, and demonstrated commercial momentum," Davis said. "The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalise its structure, attract and secure long‑term capital, and position the business for growth while continuing to promote the game across the world.
We look forward to positioning LIV Golf for future success." The Saudi withdrawal had been anticipated for several weeks, with CEO Scott O'Neil previously insisting that the series had a viable future. However, this week the league's tournament in Louisiana, scheduled for late June, was cancelled amid concerns that the concurrent football World Cup—being staged in the United States, Canada and Mexico—would siphon off spectators and television audiences.
Finding new investors will be a challenging task, given LIV Golf's massive spending commitments and its heavy reliance on sponsors linked to the Saudi state. The league has already begun exploring the sale of stakes in individual teams, with Citi bankers advising on the process.
LIV Golf is the most visible of a series of sports ventures funded by Saudi Arabia’s vast sovereign wealth, part of a broader strategy to expand the kingdom’s global influence. The country has also invested heavily in boxing and holds a majority stake in Newcastle United Football Club through the PIF. Earlier this week, the PIF announced that it had "made the decision to fund LIV Golf only for the remainder of the 2026 season." A spokesperson explained that the "substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy," citing "investment priorities and current macro dynamics." The PIF added that the LIV Golf board has formed a committee of independent directors to evaluate strategic alternatives beyond the funder's horizon.
Despite the funding setback, the PIF stressed that it remains committed to deploying capital internationally in line with its investment strategy, including continued investment in various sports as a priority sector. The statement concluded that LIV Golf has "substantially grown the game globally through its transformational and positive impact," and that it has "forever changed the game of golf for the better." The unfolding situation underscores the precarious financial footing of a venture that, while ambitious and high‑profile, depends heavily on continued sovereign backing. As LIV Golf navigates this turbulent period, the involvement of seasoned advisers and the pursuit of new capital sources will determine whether the league can survive beyond the 2026 season or face a more dramatic restructuring or dissolution.