LIV Golf has enlisted the help of a team of financial advisors to help secure a new funding deal after its Saudi backers announced they would be ending their financial support at the end of the season. According to reports, LIV Golf has hired restructuring experts from AlixPartners to develop a new business plan aimed at attracting external investment.
The move comes as LIV Golf faces an uncertain future, with its Saudi backers having spent billions of dollars trying to establish the breakaway tour as a major force in golf. Despite signing top players such as Jon Rahm and Bryson DeChambeau, the tour has struggled to become profitable. LIV Golf has announced the appointment of two restructuring specialists to its board of directors and is exploring the sale of stakes in individual teams.
The search for new investors is expected to be challenging, given LIV Golf's significant spending commitments and reliance on Saudi-based sponsors. The company's board will evaluate all options for the future of LIV Golf, including a potential winding-down or insolvency process if new investors cannot be found.