Amid LIV Golf's uncertain financial future, the Money in Sport newsletter reported Thursday that recent company filings show the league is operating on loans -- not capital -- to attempt to finish out the 2026 season.
Saudi Arabia's Public Investment Fund announced in April it would bankroll LIV only through the end of the 2026 season. Front Office Sports reported earlier this month that the PIF's funding could end earlier than promised. The PIF has spent more than $6 billion on LIV since 2022.
The
PIF implemented a lending facility to fund the league while LIV brass search for new investors, according to Money in Sport.
The report cited company filings in the United Kingdom and Jersey, which included a debenture agreement in June listing the PIF as LIV's lender. The amounts and conditions attached to the loans are not known.
This occurred after a capital increase of $66 million was not paired with a corresponding increase in share capital from the parent company, LIV Golf Investments Ltd.
LIV Golf has four tournaments remaining in 2026: 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).
In June, LIV postponed a New Orleans tournament, citing summer heat. Louisiana had invested about $7 million to land the event and had paid $3.2 million under contract before the announcement.
As a result of the cancellation, there were no tournaments on LIV's schedule for 47 days.
CEO Scott O'Neil was asked about the status of the final four tournaments on the 2026 schedule.
"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 earlier this month, LIV added two independent board directors as it seeks new investors. Additionally, U.S.-based Ducera Partners was brought in as the board's investment banking adviser.
LIV has reached out to hundreds of prospective investors, according to FOS, with more virtual meetings expected over the next several weeks before the process moves forward.
"We continue to see strong momentum both on and off the course," O'Neil said in a statement to FOS. "We've begun sharing our business plan with prospective partners who recognize the opportunity in team golf on a global scale."
The report said that LIV appears to be seeking a more cost-efficient business plan with more focus on team events.
According to FOS' sources, a pitch deck circulated to potential investors, a proposed 2027 schedule would include 10 events -- five "team majors" in successful markets and five predominantly U.S.-based "team signature events" timed ahead of individual major championships.
Prize money at future LIV events is expected to be reduced significantly from the $32.3 million purses paid out this year.
Bryson DeChambeau and Jon Rahm remain the league's two biggest stars as LIV explores its future. DeChambeau's LIV contract expires after this season, and he has said he could opt to not play on any tour full-time and instead focus on the four major championships.
Ahead of the U.S. Open this week, back-to-back Masters champion Rory McIlroy voiced concern that LIV Golf had created a "false economy" of huge purses.
--Field Level Media
