LIV Golf is preparing for the worst with reports emerging that the breakaway tour is preparing to file for bankruptcy in the United States at the end of the year.
LIV is not throwing in the towel, but with Saudi Arabia’s Public Investment Fund removing their funding of the league at season’s end, LIV’s powerbrokers are putting measures in place for if they cannot attract new investors.
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American news website Axios reported earlier in the week that LIV chief executive Scott O’Neil is seeking to raise US$250 million (A$351.5m) to keep the league alive.
The report also stated that the former CEO of the NBA Philadelphia 76ers is projecting to investors that LIV will be profitable in two years.
That comes after O’Neil had previously said turning a profit would a decade long project for the league that has lost more than US$5 billion since it began in 2022.
Bloomberg then followed up that report by saying LIV is considering relocating its headquarter to the US because bankruptcy laws are more favourable than the United Kingdom and Jersey where they also have entities based.
The US laws allow foreign companies to often shield assets from overseas creditors and restructure their debt more effectively.
Despite those from reports a LIV spokesperson released a statement to reaffirm their position that are hunting investment to secure their future.
“LIV Golf is firmly focused on securing a transaction that positions the organisation for the long term,” the spokesperson said.
Bryson DeChambeau of Crushers GC sings autographs after day four of LIV Golf Virginia at Trump National Golf Club.Source: AFP
“As we begin presenting our go-forward business plan to prospective capital partners, we are focused on achieving a sustainable future, and there are multiple pathways under active exploration.
“We continue to see great momentum on the course, and with support through the 2026 season and a clear plan to raise capital, leadership is focused on identifying the right long-term strategic partners who believe in our mission to grow the game of golf worldwide. These conversations are just getting underway, and as they progress, the company expects to gain further clarity around the structure and timing of a potential transaction.”
The players are not so sure about their future with LIV, however.
LIV’s biggest star Bryson DeChambeau raised eyebrows with his comments on a podcast with Katie Miller about his doubt over the moon landing footage, but also his golfing future after missing the cut at The Masters and the PGA Championship.
“I’m in that weird space right now, I don’t know what to do,” DeChambeau said.
“Either: Content creation or professional golf. I don’t know what to do right now.”
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Meanwhile, fellow LIV star Jon Rahm is being proactive about securing his future.
The Spaniard recently announced this standoff with the DP World Tour was over.
Then it was revealed this week that he will make a rare appearance in the Scottish Open the week before The Open Championship.
LIV’s postponement of their New Orleans event left their players with no tournament between next month’s US Open and the final major of the year at Royal Birkdale.
So, Rahm has got on the front foot to give himself the best chance of lifting the Claret Jug for the first time.
Veteran golf journalist Alan Shipunck believes Rahm’s lawyers may also be acting proactively when it comes to the former world No.1’s LIV contract.
Rahm said earlier this month he does not “see many ways out” of his US$300 million deal that runs through to 2028.
However, Shipnuck reported that the lawyers of LIV players have been exploring whether their contracts are with the PIF or LIV Golf itself, and whether they can become void if LIV does not continue in its current form.
Rumours are circulating that LIV players who are not already DP World Tour members are stressing about where they may be able to play next year.
But they have not found a shoulder to lean on in former LIV star Brooks Koepka.
Ahead of the PGA Tour’s The CJ Cup Byron Nelson, the five-time major winner was asked by a reporter if any LIV players had been in touch with him about reintegration to the PGA Tour.
“I changed my number a while ago, so I don’t think many guys have my number, which is great,” Koepka replied.
“So I haven’t had to worry about too much of that.”