Recent filings with Companies House – the United Kingdom Government’s executive agency of the Department for Business and Trade – show that LIV Golf’s UK-based organisation has suffered total losses in excess of $1.1 billion since its launch in 2021.
This figure is comprised of losses of $461.8 million in 2024, following from a $396 million deficit in 2023 and a $243 million loss in the 18 months prior to the end of 2022.
Although there was a 75 percent increase in revenue from 2023 ($37 million) to 2024 ($65 million), the significant losses incurred primarily in operating costs which include player commitment fees, prize money, and event production.
However, in the four years since its official launch as a LTD company in 2021, LIV Golf Investments has sold circa $4.89 billion in shares – both ordinary and non-voting – to the Saudi Public Investment Fund (PIF).
As a results of the continued losses, the accounts from December 2024 stated that directors felt there was “a material uncertainty which might cast significant doubt over [LIV Golf Investments’] ability to continue” as a financially stable company without continued investment from the PIF, though the PIF have pledged to continued to provide the necessary support and it is believed that the sovereign fund is worth in the region of $925 billion.
The total global losses are believed to be much higher as these figures do not include dealings in the United States – both income and expenditure – as those finances go through LIV Golf Inc which was registered in Florida at a similar date to LIV Golf Ltd’s registration with Companies House.
Under new CEO Scott O’Neil, who replaced Greg Norman in early 2025, LIV has made strides in global positioning, however. The league secured a multi-year U.S. TV deal with Fox, expanded its sponsor portfolio with multinational brands, and diversified its schedule to include new markets like South Korea and South Africa, alongside a long-term commitment to Australia. O’Neil has floated ideas for growth, such as adding more than the current 13 teams and potentially launching a women’s league, signaling ambitions for long-term independence.
The Framework Agreement which was signed in 2023 suggested that a unification of sorts was imminent, but more than two years on, little progress has been made in deciding the future of men’s professional golf as the PGA and DP World Tours and LIV Golf remain in a standoff and hopes that the PIF would invest in PGA Tour Enterprises along with the US-based Strategic Sports Group have yet to materialise.
At present, LIV Golf has yet to make any official comment.
The full 46-page filings to Companies House can be viewed here.
