LIV Golf secures ‘lead’ investor for player-driven future after Saudi exit

An agreement with an unnamed investor is approved by the LIV Golf board to replace Saudi Arabia deal.LIV Golf has secured a “lead investor” ‌to keep the lights on, and the league will move forward with ⁠players becoming majority ⁠equity holders, CEO Scott O’Neil has announced.A signed agreement is in place with the unnamed investor and has been approved by the LIV Golf board, ⁠O’Neil said on Wednesday.Recommended Stories list of 4 itemslist 1 of 4FIFA’s Infantino set for crunch meeting after World Cup selloff crisislist 2 of 4UEFA’s threatened legal action against Infantino and FIFA: What we knowlist 3 of 4Ex-Arsenal boss Wenger was ‘not aware’ of Infantino’s FIFA planlist 4 of 4UEFA confirms legal letter served to FIFA after Infantino’s World Cup planend of listThe transaction is expected to close in September. No details on the amount of the capital infusion were announced.Multiple reports said LIV Golf will return next ⁠season with 10 events – five international and five in the United States.Dark clouds have been looming over the PGA Tour and DP World Tour rival since Saudi Arabia’s Public Investment Fund (PIF) announced in April that it would stop funding the league at the end of ‌2026. The PIF sank a reported $5bn into the project since it launched in 2022.LIV Golf cancelled its New Orleans event in June and reportedly has nixed its season-ending team championship, scheduled to be held this month in Michigan. At least one report said the league was considering filing for Chapter 11 bankruptcy protection.On Wednesday, O’Neil said the new agreement will “play a key role in supporting ⁠the path forward for the league’s next era, driven by ⁠and for the players”.“We’re also seeing strong interest from more than a dozen additional parties to potentially serve as minority investors, creating a multipartner model built for long-term stability and growth,” he continued.“Notably, our next chapter will ⁠make our players the majority equity holders in LIV Golf, a first for a major global sports league, and gives ⁠the league the foundation to keep growing the game ⁠worldwide.