LIV Golf is actively seeking to raise between $250 million and $350 million in new financing to continue its operations beyond the current season, following the Saudi Public Investment Fund's (PIF) decision to stop funding the league after the 2026 season [1]. The capital raise, which is being managed by boutique investment bank Ducera Partners, is aimed at fully recapitalizing LIV and establishing a path to profitability, according to documents reviewed by CNBC [1].
This fundraising effort comes after PIF Chairman Yasir Al-Rumayyan stepped down as chairman of LIV Golf, a league he co-founded with Greg Norman in 2022 [1]. The league has also installed a new independent board of directors, led by Gene Davis of Pirinate Consulting Group and Jon Zinman of JZ Advisors, both experienced in capital markets and restructuring [1].
LIV Golf's financial challenges are underscored by reports that PIF invested more than $5 billion in the league, which has yet to achieve profitability [1]. The league is now facing hundreds of millions in player contract obligations and aims to become profitable within the next two years [1]. The withdrawal of PIF's support has raised questions about how CEO Scott O'Neil will restructure operations without access to billions in funding [1].
Bloomberg News reported earlier this week that LIV Golf has begun evaluating bankruptcy as a potential tool to reset its business operations and potentially nullify contractual obligations, such as those related to real estate and employment [1]. This possibility has reportedly prompted some players to consider alternative options for their professional careers [1].
CONCLUSION
LIV Golf is at a critical juncture, seeking substantial new investment to secure its future after the withdrawal of Saudi PIF support. The league faces significant financial and operational challenges, including the possibility of bankruptcy and player departures, as it strives for profitability in the coming years.