LIV Golf CEO Scott O’Neil has started the search for two different levels of investors while seeking as much as $250m (R4.1bn) in investment capital beyond this year, Axios reported.
Saudi Arabia started the breakaway golf league in 2022 through its Public Investment Fund (PIF) but will no longer provide backing to the tour after the 2026 season is completed.
The PIF has invested between $5bn and $8bn (R83bn and R133bn) since starting LIV Golf, according to estimates, but will now focus on investments domestically. The league has never come close to turning a profit, according to reports.
LIV Golf has postponed its New Orleans tournament that was slated for June, but left the door open for a different version of the tournament later this year. The postponement leaves a gap on the schedule between LIV Golf Andalucia in Spain (June 4 to 7) and LIV Golf UK (July 23 to 26).
LIV Golf intends to operate in the future but will have to bring aboard investors in the hope of being viable. Even then, the league might be diminished from what is in place now with stars including Bryson DeChambeau, Jon Rahm, Joaquin Niemann, Cameron Smith and Tyrrell Hatton.
According to the report, LIV Golf is letting it be known to prospective investors that an infusion of $250m will make the league profitable within two years.
Another $150m (R2.5bn) investment plan is being floated, but that will have to be offset through a new media rights deal and the sale of its 13 teams, which consist of four competitors each.
Meanwhile, Aaron Rai is taking a well-earned week off after winning the PGA Championship after the Englishman withdrew from the upcoming CJ Cup Byron Nelson on Monday.
SY Noh of South Korea replaces Rai in the field off the alternate list.
Rai, 31, captured his first major championship on Sunday at Aronimink Golf Club by going 6 under par for his final 10 holes to post a 5-under 65 for the round and 9 under for the tournament.
He rose to 24th in the FedEx Cup standings and 15th in the Official World Golf Ranking thanks to the biggest win of his career.
The Byron Nelson tees off on Thursday in McKinney, Texas, with defending champion Scottie Scheffler in the field along with fan favourite and fellow Texan Jordan Spieth. — Field Level Media
The Herald