LIV Golf chief government Scott O’Neil refused to be drawn on whether or not the league’s remaining occasions of 2026 will happen as he outlined the scramble for post-Saudi funding.
O’Neil is in search of $300m from outdoors backers to maintain the breakaway circuit afloat after Saudi Arabia’s Public Funding Fund introduced plans to withdraw funding on the finish of the 12 months, having invested greater than £4bn since 2022.
“I’ve had five formal meetings so far,” O’Neil informed CNBC. “I’ve received 18 extra this week and about the identical subsequent week.
“What’s been really interesting is how you slice this. Is it one partner, maybe a big private equity firm, coming in for the full $300m, or do you have 10 or 12 investors at $50m or $25m?”
Securing that funding through the 46-day hole between LIV’s final occasion in Spain and its subsequent cease within the UK at JCB Golf & Nation Membership on July 23 is, he admits, essential.
“What we don’t have is a lot of time,” he added. “We’re urgently out there talking to those who are interested. We like the pool, but we have to get this done through the summer.”
The cancellation of LIV’s New Orleans occasion created the break within the schedule, and when requested if the ultimate 4 stops within the UK, New York, Indianapolis and Michigan would go forward, O’Neil once more sidestepped the query.
“What I can guarantee is a heck of a return if you come invest in this business,” he stated.
O’Neil added that any new mannequin would look markedly totally different, constructed round tighter value controls and a extra sustainable construction.
“We’re cutting the expense side dramatically, and the revenue momentum we’ve had – we’re already up $100m year-on-year – means we have really good business momentum,” he stated.
“This is about getting costs under control, reimagining what the business could and should look like, and engaging players as partners, as true equity partners in this business.”
