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LIV Golf Secures New Lead Investor as PIF Era Ends, CEO Says
LIV Golf has secured a new lead investor in an agreement expected to be finalized in September, a move that provides a new financial foundation for the breakaway professional golf circuit. The deal follows the announced withdrawal of its original backer, Saudi Arabia's Public Investment Fund (PIF), CEO Scott O’Neil said in a statement Wednesday.
A New Ownership Model
The new structure will be anchored by a single lead investor, with the agreement already signed and approved by the board, O'Neil confirmed. The circuit is also pursuing a multi-partner model and has received interest from more than a dozen additional parties to serve as minority investors.
Under the new arrangement, players are set to become the majority equity holders in the league. This shift represents a significant change in the league's business model as it moves toward a more diversified ownership base.
Strategic Changes
Coinciding with the new investment, LIV Golf plans to reduce its schedule to 10 events. These tournaments will be split evenly, with five held at international venues and five in the United States.
AdThis streamlined schedule and new capital infusion are intended to support what O'Neil described as the "league's next era." The circuit has demonstrated an ability to draw crowds, with its LIV Golf Adelaide tournament setting a record as Australia’s highest-attended golf event with over 115,000 spectators, according to the league.
Context: The PIF Departure
The new funding is critical for LIV Golf's future. The PIF, which invested more than $5 billion in the circuit since its 2022 launch, announced in April that further investment was no longer aligned with its strategy.
That substantial financial backing was instrumental in attracting major champions from the PGA Tour, including Jon Rahm, Phil Mickelson, and Bryson DeChambeau, with large prize purses and guaranteed contracts. The new investment structure will be essential to sustaining the league's operations and competitive standing in professional golf.
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