LIV Golf’s financial situation is growing more precarious, with a new report revealing the league is running on loans rather than fresh investment capital as it tries to wrap up the 2026 season.
The Money in Sport newsletter reported Thursday, citing recent company filings, that Saudi Arabia’s Public Investment Fund has set up a lending arrangement to keep the league afloat while LIV leadership hunts for new financial backers. The PIF announced back in April that it would only fund LIV through the end of the 2026 season, and Front Office Sports reported earlier this month that even that support could be cut short. In total, the PIF has put more than $6 billion into LIV since 2022.
The report pointed to company filings in the United Kingdom and Jersey, which included a debenture agreement from June that names the PIF as LIV’s lender. The specific dollar amounts and terms of those loans have not been disclosed.
This lending shift came after a $66 million capital increase was not matched by a corresponding increase in share capital from the parent company, LIV Golf Investments Ltd.
LIV still has four events left on its 2026 calendar: LIV Golf UK (July 23-26), LIV Golf New York (Aug. 6-9), LIV Golf Indianapolis (Aug. 20-23), and the $40 million LIV Team Championship Michigan (Aug. 27-30).
The league’s financial troubles have already caused disruptions. In June, LIV called off a planned tournament in New Orleans, blaming summer heat. Louisiana had committed roughly $7 million to bring the event to the state and had already paid $3.2 million under contract before the cancellation was announced. That decision left a 47-day gap with no events on LIV’s schedule.
When CEO Scott O’Neil was pressed about whether the remaining four tournaments would actually take place, he sidestepped a direct answer. “What I can guarantee is a heck of a return if you come invest in this business,” O’Neil said on CNBC on June 9.
According to Front Office Sports, LIV has brought on two independent board directors and hired U.S.-based Ducera Partners as an investment banking adviser as part of its effort to attract outside money. The league has reportedly contacted hundreds of potential investors, with more virtual meetings planned over the coming weeks.
“We continue to see strong momentum both on and off the course,” O’Neil said in a statement to Front Office Sports. “We’ve begun sharing our business plan with prospective partners who recognize the opportunity in team golf on a global scale.”
Reports suggest LIV is working toward a leaner business model with a greater emphasis on team-based competitions. A pitch document circulated to potential investors reportedly outlines a proposed 2027 schedule of 10 events — five “team majors” in proven markets and five primarily U.S.-based “team signature events” scheduled around individual major championships.
Prize money is also expected to drop sharply from the $32.3 million purses the league has been paying out this season.
Bryson DeChambeau and Jon Rahm remain the league’s top draws as LIV works through its uncertain future. DeChambeau’s contract runs out after this season, and he has indicated he may choose not to commit to any tour full-time, instead focusing his efforts on golf’s four major championships.
Adding to the league’s challenges, back-to-back Masters champion Rory McIlroy, speaking ahead of this week’s U.S. Open, said he believes LIV Golf created a “false economy” by offering outsized prize money.
