O’Neil is starting to make pitches to prospective financers now that Saudi PIF has stopped bankrolling the league following somewhere in the range of $5 to $8 billion spent on the venture. The league is seeking $250 million to $350 million to continue operations and is projecting profitability within three years. Axios reported earlier this week that LIV was targeting profitability in 20 months. In a February interview with the Financial Times, CEO Scott O’Neil said profitability could be five to 10 years away, and in a since-deleted on-air comment, O’Neil said the league had funding only through the end of 2026.

However, earlier this week Front Office Sports reported there is doubt among LIV executives that the league will be able to complete its remaining four events on the calendar. LIV has already postponed one event this season, citing summer heat and the World Cup. Asked during a guest spot on CNBC’s afternoon programming, O’Neil was asked if he could guarantee those events will be played.

“What I can guarantee is a heck of a return if you come invest in this business,” O’Neil said.

O’Neil asserted LIV has a “very, very special opportunity to create tremendous value,” and said he’s had five meetings about funding interest and more scheduled for this week. “While we have incredible business momentum, what we don’t have is a lot of time, so we’re very urgently out there talking to those who are interested,” he said.

In late April LIV created an independent board of directors to help focus on securing long-term financial partners after Yasir Al-Rumayyan, the governor of the PIF and architect of LIV Golf who had held the position of chairman of LIV’s board, stepped down. Still, while PIF is gone, O’Neil believes they will fund the remaining four events.

“I can say they’ve been terrific partners so far, and you have to take an incredible organisation like PIF at their word,” O’Neil said. “They’ve been very public about funding us through the season, so we are full steam ahead.”

LIV Golf’s next event is scheduled for July 23-26 outside of London.

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The Times-Picayune/The New Orleans Advocate, New Orleans-based WDSU and the Athletic reported on Monday that LIV will not play its event at Bayou Oaks at the originally scheduled dates in late June. Days after reports emerged regarding Saudi Arabia’s Public Investment Fund no longer backing the fledgling golf league, Secretary of Louisiana Economic Development Susan Bourgeois reached out to LIV Golf CEO Scott O’Neil regarding the league coming to her state. According to the Athletic, LIV officials agreed to “push back the date” due to its changing business model. Additionally, the New Orleans Advocate reports that LIV has instead pitched a fall date with a different format and smaller field.

On Tuesday, Governor Jeff Landry and Louisiana Economic Development Secretary Bourgeois released a joint statement confirming the event has been postponed.

“First, we want to thank Zurich and PGA Tour leadership for another outstanding tournament this past weekend. We are proud of the continued partnership and the opportunities this event brings to our state each year.

“Secretary Bourgeois spoke with LIV Golf CEO Scott O’Neil on Friday and was informed that the organization seeks to postpone its June 2026 event in New Orleans to explore a potential event this fall. The state has already paid $3.2 million in accordance with the contract. LIV is expected to return all state incentive funds, with the exception of the $2 million already invested in upgrades for City Park, ensuring those improvements remain in place for the community. We appreciate LIV’s good-faith efforts and look forward to maintaining our partnership as we continue conversations around an event later this year.

“We are grateful for the work of our local partners and the collaboration that supported this effort. Louisiana continues to move forward with strong momentum and we remain focused on opportunities that deliver value for our communities.”

As of writing, LIV Golf has not addressed the postponement.

Earlier this month, officials with the PIF unveiled a new strategic direction that amounts to a fundamental rethinking of the fund’s mission. For the better part of a decade, Saudi Arabia used the fund as an image-laundering operation, pouring money into global sports, entertainment and technology as a means of projecting a modernised, westernised face to the world. That approach is being shelved. The new priority is domestic investment, and any international ventures that survive the cut are expected to generate returns. PIF has injected more than $5 billion into LIV Golf since the league launched in fall 2021. However, the league has haemorrhaged billions and failed to gain investors for its teams. O’Neil said earlier this year that it could be another decade before LIV sees profitability.

Two weeks ago, in broadcast remarks that were promptly deleted from social media, O’Neil said that LIV was only funded through this season, pushing back on previous remarks that the league was backed until the 2030s. “It’s just not the way the world works,” O’Neil said about future funding. “We have commitments to have this … the reality is you’re funded through the season and then you work like crazy as a business to create a business and a business plan to keep us going.”

Following reports about LIV’s future, O’Neil addressed staffers in an email saying the season would continue as planned. He seemingly addressed the reported by mentioning “the life of a startup movement is often defined by these moments of pressure.”

LIV Golf’s next event is scheduled for a Trump property next week, beginning May 7. A Trump National official confirmed to Golf Digest that, for the moment, the event is going on as planned.

This story will continue to be updated.

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‘Bombshell’ LIV Golf announcement imminent, report claims

Amid growing speculation that the league may be discontinued at the end of 2026, the Financial Times reported that PIF is weighing the prospect of no longer funding LIV, with an announcement coming as soon as Thursday. Though the sovereign wealth fund’s estimated worth hovers near $940 billion, the Iran War and Middle Eastern conflict has taken a toll on the fund, according to reports. Saudi Arabia was already retreating from promised investments before the war, strained by budget shortfalls and unrealistic designs. The U.S.-Israeli conflict with Iran accelerated the reckoning. Iran’s closure of the Strait of Hormuz has cut Saudi oil exports nearly in half. The kingdom has shut down most of its offshore fields and this month halted one of the world’s largest petrochemical plants.

Additionally, on Wednesday, PIF announced its new strategy focusing on domestic programs rather than investing in global entities, as well as tightening its expenditures on projects that have not brought a return. PIF has injected more than $5 billion into LIV Golf since the league launched in fall 2021. However, the league has haemorrhaged billions and failed to gain investors for its teams. LIV CEO Scott O’Neil said earlier this year that it could be another decade before LIV sees profitability.

On Wednesday the The Athletic reported that members of LIV’s leadership team were informed on Masters Sunday that they would soon lose their positions, while the Telegraph reported that LIV executives were brought to New York for an emergency meeting. Sources have told Golf Digest that LIV leadership is looking for alternative funding for the league but so far is coming up empty.

LIV Golf has an event this week in Mexico City. On Tuesday, press conferences were canceled and the media center closed for what was later described as a power outage. On Wednesday, the league held a press conference, where Sergio Garcia said players have not been informed of any developments. For the moment, it appears this week’s event will be played as scheduled.

“Honestly, you know how these rumours are,” Garcia said. “There are always a lot of them. And I can’t tell you anything more than what we already know.”

LIV Golf CEO Scott O’Neil – Sarah Reed

On Wednesday, LIV CEO Scott O’Neil sent an e-mail to staffers (posted on X by ESPN reporter Jeff Darlington), stating that the league would continue operations for 2026.

“I want to be crystal clear: Our season continues exactly as planned, uninterrupted and at full throttle,” O’Neil wrote. “While the media landscape is often filled with speculation, our reality is defined by the work we do on the grass. We are heading into the heart of our 2026 schedule with the full energy of an organization that is bigger, louder, and more influential than ever before.

“The life of a startup movement is often defined by these moments of pressure. We signed up for this because we believe in disrupting the status quo. We have faced headwinds since the jump, and we’ve answered every time with resilience and grace. Now, we answer by doing what we do best: putting on the most compelling show in sports.”

LIV is coming off a particularly poor showing at the Masters. Tyrrell Hatton parlayed a strong Sunday into a T-3 finish, but Jon Rahm—who entered as one of the tournament favourites—again struggled on the major stage, while LIV marquee attraction Bryson DeChambeau missed the cut. Garcia also created a viral moment for an outburst where he damaged a tee box and broke his driver.

LIV Golf has not responded to a Golf Digest request for comment.

This is a developing story and will continue to be updated.

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