LIV Golf CEO Stays Silent on Saudi PIF Control Amid Funding Uncertainty 

LIV Golf CEO Scott O’Neil has been put through a series of questions regarding the changing power dynamics within the organization. O’Neil has been reluctant to clarify who holds ultimate power within LIV Golf.

The league faces a pivotal moment as its current season concludes, with reports suggesting that the Saudi Public Investment Fund (PIF) will stop funding beyond the 2026 season. In an interview with Golf.com, O’Neil was asked whether the PIF retains its right to sit at the table and has the final say.

“I wouldn’t comment on that. But that’s a good question.”

His reluctance to provide a clear answer is indicative of murky waters in the management side of things. The recent resignation of Yasir Al-Rumayyan in the month of April from the board has only served to add to the anxieties concerning future governance.

Despite the changes made within the organization, O’Neil was quick to confirm that the company’s legal ownership structure had not changed.

“Right, the ownership structure has not changed.”

The disagreements within the boardroom come from efforts to find alternative sources of funding. Without a concrete answer as to whether PIF has veto rights, numerous private equity firms are reluctant to invest.

Board Appointments and Capital Strategy 

LIV Golf has put in place an independent governing body with Gene Davis and Jon Zinman, two veteran experts, at its helm. The objective here is to transform LIV’s operation from being purely foundational to a diversified venture with multiple investment partners.

In addition to this, LIV Golf has engaged Ducera Partners, an investment bank led by CEO Michael Kramer, to formulate its capital strategy in the long run.

“Mike and the Ducera team bring deep transaction experience and a track record of delivering in complex, high-stakes situations,” O’Neil added.

As it steps into this new era, the league claims that it enjoys considerable commercial success, evident from a spike in ticket sales of over 130%.

“This league has proven its value, and our focus now is on building the right financial foundation for the long term,” O’Neil said.

Through institutionalization, the league plans to recruit international investors who will ensure its sustainability beyond its existing fundraising period.