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Written by David Skilling
LIV Golf is actively seeking new investors as questions grow around the long-term role of Saudi Arabia’s Public Investment Fund in sustaining the league.
LIV Golf’s CEO, Scott O’Neil’s comments during LIV’s Mexico City event didn’t deny the pressure, and they didn’t need to, because the language shifted from inevitability to process, with references to private equity norms, funding cycles, and the expectation that raising capital is part of building any long-term enterprise.
Until now, LIV has operated outside of those constraints, backed by a sovereign fund willing to absorb losses in exchange for speed, visibility, and leverage across the wider golf ecosystem, but that’s likely to change soon.
The numbers give context to that shift, because the Public Investment Fund is projected to have spent more than $6 billion on LIV since its 2022 launch, while O’Neil pointed to nearly $500 million in sponsorship revenue across league and team deals in 2025, including brands like Rolex, HSBC, Salesforce, and Aramco.
That gap between capital deployed and revenue generated isn’t unusual for an emerging sports league, but it becomes more visible when the funding source signals that future backing may not be open-ended.
