LIV Golf boss confirms $250m deal to keep league alive in 2027

LIV Golf boss Scott O'Neil has confirmed the breakaway tour has found a new investor that will keep the league alive beyond 2026.

The breakaway tour has been reeling since its primary backer, Saudi Arabia's PIF, announced in March it would no longer bankroll the venture after the conclusion of the season. 

O'Neil took the product to market after the conclusion of the 2026 Masters with the aim of trying to generate $350m to keep the tour going. 

No meaningful updates have been provided in recent months and rumours LIV was planning to cancel their $40m season-finale painted a grim picture.

Several players have expressed concern about being kept in the dark, with two-time major champion Martin Kaymer telling reporters in July that the players did not know if the circuit would exist in 2027.

But O'Neil sensationally confirmed on 5 August that LIV has an agreement in place with a lead investor and it has been approved by the board. 

O'Neil did not say who the investor was, though. 

It is believed the deal is worth at least $250m, as previously reported by The New York Post. 

O'Neil said it is hoped the transaction will take place next month. 

In a statement, O'Neil said: 

"LIV Golf has an agreement in place with a lead investor, signed by the investor and approved by the board, to anchor the transaction and play a key role in supporting the path forward for the league's next era, driven by and for the players. 

"We're also seeing strong interest from more than a dozen additional parties to potentially serve as minority investors, creating a multi-partner model built for long-term stability and growth. 

"Notably, our next chapter will make our players the majority equity holders in LIV Golf, a first for a major global sports league, and gives the league the foundation to keep growing the game worldwide. 

"We anticipate finalizing terms in the coming weeks, with the goal of entering a transaction in September. 

"In the meantime, our focus is on delivering a great week for fans and players at Bedminster and finishing the 2026 season strong."

O'Neil's announcement came 24 hours after Bryson DeChambeau led a players' only meeting to deliver an update on what he knew.

Several LIV captains left the meeting tight-lipped, with Ben An joking that "no fists were thrown" during the meeting. 

LIV Golf launched in June 2022 by luring several PGA Tour winners, major champions and ageing Ryder Cup stars with lucrative contracts. 

There was optimism at one stage that the LIV would agree a deal with the PGA Tour to end the unprecedented disruption in the men's game. 

But no deal came to pass and rumours began to swirl ahead of LIV's stop in Mexico after The Masters that the PIF was planning on turning off the spigot completely. 

It is estimated the PIF have invested somewhere between $5-8bn on LIV.

PIF confirmed on 30 April that the substantial investment required to bankroll LIV was no longer consistent with the current phase of their investment strategy. 

O'Neil added that LIV plan to play 10 events in 2027, including five team "majors" in Australia, South Africa, England, Hong Kong and Mexico. 

The future schedule also includes five events in the United States. 

O'Neil added that LIV players will be allowed to play on other tours and will also regain their name, image and likeness commercial rights to give them more control over their brand and partnerships. 

LIV Golf have not revealed, yet, whether their Team Championship in Michigan later this month will go ahead.