The LIV Golf League has fashioned a brand new impartial board of administrators to outlive as a “diversified multi-partner funding mannequin” as Saudi Arabia’s Public Funding Fund ends funding after the 2026 season, the league introduced Thursday.
The brand new board shall be led by funding bankers Gene Davis and John Zinman, who the league stated have “a confirmed observe report of navigating advanced conditions and unlocking worth for world-class organizations and can lead the league into its subsequent section.”
PIF has invested greater than $5 billion in LIV Golf for the reason that first match in June 2022, and is reportedly spending $100 million each month this yr.
PIF President Yasir Al-Rumayan will step down as chairman of LIV Golf on Thursday, sources confirmed to ESPN.
PIF is anticipated to announce as early as Thursday that it’s going to now not fund the LIV Golf League after this season. Throughout a match broadcast in Mexico Metropolis earlier this month, LIV Golf CEO Scott O’Neill stated PIF is dedicated to persevering with with the remaining seven tournaments this season.
The league and Louisiana Governor Jeff Landry introduced Tuesday that the match scheduled for New Orleans has been postponed and a fall date is being thought of.
LIV Golf League officers informed ESPN on Thursday that subsequent week’s match at Trump Nationwide Golf Membership exterior Washington, D.C., will go forward as scheduled.
“The fact is we’ll be funded via the season after which we’ll work like loopy as an organization to create a enterprise and a marketing strategy to maintain us going,” O’Neal stated throughout broadcast of the season opener in Mexico Metropolis. “But it surely’s no totally different than some other personal equity-funded enterprise in human historical past.”
In accordance with a LIV Golf information launch, the league is concentrated on “securing a long-term monetary accomplice to help the transition from the foundational start-up section to a diversified multi-partner funding mannequin.”
Officers say the league is open to a number of new fashions, together with lowering the variety of tournaments, holding solely worldwide occasions or probably merging with the DP World Tour.
“LIV Golf has constructed one thing actually totally different: a worldwide league with passionate followers, world-class expertise and confirmed industrial momentum,” stated Davis, who chairs the impartial board committee. “Together with John and I, the manager staff believes there’s a clear alternative to formalize the league’s construction, appeal to and safe long-term funding, and assist place the enterprise for development whereas persevering with to popularize the sport around the globe. We look ahead to positioning LIV Golf for future success.”
The league stated income has elevated greater than 100% since 2025, and 4 occasions and 10 of the 13 groups shall be worthwhile this season.
“Our perception within the staff golf mannequin has by no means been stronger,” the league stated in a press release. “We’ve got constructed a differentiated platform that’s world in design, commercially vibrant and structured to unlock untapped worth throughout sports activities.”
However the league is in search of assured contracts value lots of of tens of millions of {dollars} for star golfers like Jon Rahm and Bryson DeChambeau. The league reportedly spends $40 million to host every occasion and doesn’t have a conventional tv deal within the U.S.
DeChambeau’s contract with Livgolf expires on the finish of this season.
The league is attracting consideration in golf-hungry nations like Australia and South Africa, however TV scores in the USA are stagnant.
In accordance with LIV Golf, Mr. Davis is chairman and CEO of Pirinate Consulting Group LLC. Pirinate Consulting Group LLC is a privately held consulting agency specializing in turnaround administration, merger and acquisition consulting, restructuring, and strategic advisory providers for private and non-private entities.
Mr. Zinman is the founder and managing member of JZ Advisors LLC, an impartial strategic advisory agency serving corporations throughout industries and lifecycles.
