LIV Golf CEO says Saudi fund has pledged support through season
Scott O’Neil told CNBC that LIV Golf is seeking new investors as Saudi Arabia’s Public Investment Fund prepares to end backing after 2026.
By Maya Lindqvist · Senior Technology Correspondent
2 min read
LIV Golf CEO Scott O’Neil said the league is counting on Saudi Arabia’s Public Investment Fund to keep financing it through the rest of the season, even as the tour seeks new capital. His comments to CNBC came after reports raised questions about whether the Saudi-backed golf league could complete its remaining events.
O’Neil told CNBC on Tuesday that PIF has been a strong partner and has publicly committed to funding LIV Golf through the season. “You have to take an incredible organization like PIF at their word,” he said, adding that the league is operating “full steam ahead.”
CNBC reported in late April that PIF is set to stop funding LIV Golf after the 2026 schedule. CNBC also reported that Yasir Al-Rumayyan, PIF’s chairman, stepped down as chairman of LIV Golf.
The funding shift has left LIV Golf looking for outside investors. CNBC reported last month that the league began an investor roadshow aimed at raising up to $350 million to support operations after PIF’s backing ends.
Recent media reports suggested PIF could withdraw support earlier than expected, according to CNBC. Asked about those reports, O’Neil said LIV Golf’s players, management and advisers are focused on the league’s plans.
O’Neil did not guarantee that the four remaining tournaments on this year’s schedule would be played when CNBC asked him directly. He instead said he could guarantee “a heck of a return” for investors who put money into the business.
O’Neil told CNBC that LIV Golf must become more disciplined and create value to reach a sustainable position. He said the league has a “special opportunity” to build value, while acknowledging that its fundraising effort is under time pressure.
According to O’Neil, LIV Golf has held five formal meetings about potential investment and had 18 more planned for the week. He told CNBC that the response has been positive and that he hopes to finish the fundraising process this summer.
“While we have incredible business momentum, what we don’t have is a lot of time,” O’Neil told CNBC, saying the league is urgently speaking with interested parties.
The situation marks a financial test for LIV Golf as it tries to shift from reliance on Saudi funding toward a broader investor base. CNBC reported that PIF’s planned exit after 2026 and the league’s current fundraising push are central to whether LIV can continue operating beyond its existing backing.
This story draws on original reporting from CNBC.