sports
As LIV Golf faces a Saudi funding cliff, CEO says to take PIF 'at their word'
PIF is set to stop funding the golf league after the 2026 season, though LIV's Scott O'Neil could not guarantee that the final four tournaments will take place.
TL;DR
- LIV Golf CEO Scott O'Neil expressed confidence in Saudi Arabia's Public Investment Fund (PIF) to fulfill its funding commitments through the current season.
- PIF is scheduled to cease funding after the 2026 season, and PIF Chairman Yasir Al-Rumayyan has stepped down as LIV Golf chairman.
- LIV Golf is seeking to raise up to $350 million from investors and has begun an investor roadshow.
- O'Neil could not guarantee that the remaining four tournaments on this year's schedule will proceed but highlighted the potential for investment returns.
- The organization is focused on being disciplined and value-creative to achieve sustainability.