It's Very Good News for Us

LIV Golf chief executive Scott O'Neil announced Wednesday that the tour has secured a "lead investor" to fund operations through 2030, though the deal may not prevent star players from leaving by year's end. O'Neil declined to identify the new backer after Saudi Arabia's Public Investment Fund withdrew support, saying a term sheet has been signed and approved by the board. "We're very fortunate that a lead investor has signed a term sheet approved by our board, which will carry and fund LIV going forward, O'Neil said.

"It's very good news for us. At this point we are keeping the details of the deal, the investor, and much of what you might want to know in this second phase out of the media. The agreement could be finalized by the end of August, including details on who will play in 2027. O'Neil confirmed the funding covers 2027 through 2030 and described the investor as one "of weight.

LIV currently runs 14 events annually with $30m prize funds per tournament, but from 2027 the plan involves 10 events worth $10m each, with players receiving majority equity. The business has lost huge sums, requiring an estimated $5bn in Saudi money. Asked about Bryson DeChambeau and Jon Rahm, O'Neil said: "I have all the time in the world for Jon Rahm and Bryson DeChambeau.

I think I'd be remiss in saying they're not only two of the biggest, best golfers on the planet, but I think they're some of the biggest stars in sports, let alone golf. [I] would certainly love them to come along for the ride and journey because they carry maybe more weight than anybody in the game and I have a lot of time for that. He added: I think we have enough support from enough players, and we have such an interesting format and global format, I think we'll do quite well in getting the right stars for this game.

DeChambeau's situation is complicated by perceived mutual indifference with the PGA Tour and his consideration of YouTube golf. Cameron Smith, Tyrrell Hatton, and Dustin Johnson are other key names whose decisions will be closely watched.