Saudi officials withdrew their backing of the series, however, after promising to keep LIV afloat through the 2026 campaign, which is set to conclude later this month.
O’Neil has sought up to $300 million in backing from new sponsors to produce a season in 2027 and beyond.
“Notably, our next chapter will make the players the majority equity holders in LIV Golf, a first for a major global sports league, and gives the league the foundation to keep growing the game worldwide,” he said.
“We anticipate finalising terms in the coming weeks with the goal of entering a transaction in September.
“In the meantime, our focus is on delivering a great week for fans and players at Bedminster and finishing the 2026 season strong.”