LIV Golf has brought in a heavyweight advisory team to help secure a multi‑billion‑dollar funding lifeline after its Saudi sovereign backers signaled a possible withdrawal, according to Sky News reporter Mark Kleinman. The organization has tapped restructuring specialists from AlixPartners, a global consulting firm, to draft a fresh business plan aimed at attracting new external investors.
Sources close to the sport say LIV Golf is also on the brink of hiring a leading investment bank to spearhead its capital‑raising efforts as it begins formal discussions with prospective backers. The confirmation that Saudi Arabia’s Public Investment Fund (PIF) intends to cease its financial support for LIV Golf at the end of the current season has set off a frantic scramble to rescue a competition that features many of the world’s top golfers, including Jon Rahm and Bryson DeChambeau. Insiders note that AlixPartners’ involvement could also be interpreted as a precautionary measure, preparing contingency plans for a possible wind‑down or insolvency process should new investors fail to materialise in the coming months.
One source, however, stressed 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 establish the breakaway tour as a premier global force in one of the world’s most popular sports. Despite writing massive cheques to lure elite players away from the PGA Tour, the prospect of the league becoming profitable has remained elusive. For example, Jon Rahm reportedly signed a contract worth $300 million (£222 million) to join LIV, while other high‑profile golfers received similarly large payouts.
Now in its fourth full season, the LIV Golf League comprises 13 teams competing for individual and team titles at prestigious courses worldwide. Its tournaments feature 57 players from 21 nations, spanning ten countries across five continents. This week, the league announced the appointment of two restructuring specialists—Jon Zinman and Gene Davis—to its board of directors as part of a broader effort to attract external capital 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, together with Jon and me, 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 LIV Golf chief executive Scott O'Neil repeatedly 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 across the United States, Canada and Mexico—would depress spectator attendance and television ratings for the golf event. Finding new investors will be a daunting 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’s investment bankers advising on that process. LIV Golf is the most visible of a series of sports ventures funded by Saudi Arabia’s vast sovereign wealth in recent years, as the Gulf nation seeks to expand its global influence. The kingdom 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." The fund 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 shifting investment priorities and macro‑economic dynamics. The statement added that the LIV Golf board has formed a committee of independent directors to evaluate strategic alternatives beyond the PIF’s funding horizon. Despite the funding uncertainty, the PIF emphasized 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 fund reaffirmed its commitment to deploying capital internationally in line with its broader investment strategy, noting that sports remain a priority sector for future investments. The situation underscores the broader challenges facing breakaway leagues that rely on a single, state‑backed source of capital.
As LIV Golf works to re‑engineer its financial structure, the involvement of AlixPartners and a top investment bank could prove pivotal in convincing a new cohort of investors that the league can achieve sustainable profitability while continuing to attract the world’s elite golfers and expanding its global fan base. If successful, the revamped financial plan could pave the way for a more diversified ownership model, potentially involving private equity, sovereign wealth funds from other regions, and corporate sponsors seeking to associate with a high‑profile, internationally televised sporting product.
Until such a deal is secured, the league faces a precarious period in which its future hinges on the ability to demonstrate a clear path to revenue generation, cost control, and long‑term strategic stability.