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Written by David Skilling
As you’re all likely aware, LIV Golf recently came under serious financial pressure, and now has to prove it can become a sustainable sports business.
This week, there were meetings between players and executives to discuss the leagues future direction, but they apparently offered little clarity over investment or the future of the league’s team championship, however, twenty-four hours later, LIV announced it had secured a new lead investor, with CEO Scott O’Neil explaining that the league’s next chapter will make players the majority equity holders, which opens the doors for a very different business model.
At first glance, it sounds like a positive outcome for the league and the players, with LIV securing fresh capital after Saudi Arabia’s Public Investment Fund decided to end its financial backing, and the revelation that players will now own most of it. In an era where sport is talking about athletes having more control over the businesses they help create, LIV, although not by choice, is now making that idea a reality. That said, I don’t think that’s the whole story.
