LIV Golf, the breakaway circuit backed by Saudi Arabia's Public Investment Fund, is seeking $350 million in new investment to fund a 10-event schedule and provide players with equity stakes. They have also briefed players on the plan and received positive feedback.
Friday, 22 May 2026 | 1:49 AM MYTGolf - LIV Golf Mexico - Club de Golf Chapultepec, Mexico City, Mexico - April 17, 2026 General view of the LIV Golf Mexico sign during second round REUTERS/Henry Romero May 21 - LIV Golf is seeking up to $350 million in new investment and plans to shrink to a 10-event schedule while giving players equity stakes in a bid to survive the loss of its Saudi sovereign wealth fund backing after 2026, sources told Reuters on Thursday.
Investment bank Ducera Partners, which is advising LIV Golf, began presenting the plan to potential backers on Thursday, the sources said. The league's players have been briefed on the plan and have responded positively, they added.
"LIV Golf is firmly focused on securing a transaction that positions the organisation for the long term," a LIV spokesperson said in a statement. "In the coming days, we will be sharing the framework of our commercially rigorous, go-forward business plan with prospective capital partners. " Saudi Arabia's Public Investment Fund, which has spent more than $5 billion on LIV Golf since it launched in 2022, said in April that investing in the league no longer fit its investment strategy.
The fund is set to stop financing the 14-event circuit that features $30 million tournament purses, at the close of the 2026 season in late August. The decision by the PIF to cut LIV Golf's funding has left the breakaway circuit scrambling for new backers and raises questions about the future of its big-name players on lucrative contracts.
Through big-money contracts and lucrative purses, LIV managed to lure a number of golf's biggest names from the PGA Tour, including Bryson DeChambeau, Jon Rahm, Phil Mickelson, Dustin Johnson, Brooks Koepka and Patrick Reed. Rahm, speaking ahead of last week's PGA Championship where he finished in a share of second place, said he was confident in LIV's direction.
"I have faith in the work that they're doing. I have faith that they're going to come up with a good plan," Rahm told reporters. LIV Golf launched in 2022 with the backing of the PIF and critics have decried it as a vehicle for the country to attempt to improve its reputation in the face of criticism of its human rights record.
LIV Golf New Investment 10-Event Schedule Equity Stakes Saudi Sovereign Wealth Fund
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Arabia's LIV Golf to explore U.S. bankruptcy as plan fails to secure fundsThe LIV Golf series, which features high-profile players such as Phil Mickelson and Bryson DeChambeau, is at a crossroads with Saudi Arabia's Public Investment Fund cutting off its funding.
Read more »
Singaporean radio DJ Sonia Chew marries investment banker in church weddingPHNOM PENH: The Cambodian government has pledged to intensify the ongoing crackdowns on transnational crime and online scam networks, insisting that the kingdom will no longer allow itself to serve as a safe haven for international criminal syndicates.
Read more »
S'wak approved 12 domestic investment project worth RM347.1mil in first quarter, says Deputy PremierGoogle will soon unleash a wealth of new artificial intelligence-powered tools and systems, including an AI assistant that will help users by proactively performing tasks on their behalf.
Read more »
Indonesia, Malaysia Approve New Joint Venture Between PETRONAS, Eni, Creating Boost for Global Energy InvestmentThe Indonesian and Malaysian governments have approved the changes in ownership for oil and gas blocks that will be transferred to a new joint venture between PETRONAS and Eni, creating a significant boost for global energy investment in the region.
Read more »