LIV Golf CEO Scott O'Neil Refuses to Guarantee Remaining 2026 Events, Seeks $300 Million to Survive Saudi Exit

Since Saudi Arabia's Public Investment Fund confirmed earlier this year it would stop bankrolling LIV Golf at the end of the 2026 season, CEO Scott O'Neil has been running a full-time fundraising operation. As of June 17, 2026, that operation is in a critical window.

The Numbers

PIF has put more than $4 billion into LIV since the league launched in 2022, according to Sky Sports. O'Neil needs $300 million in outside investment to keep the circuit functioning past August. He told CNBC he had completed five formal meetings at the time of the Sky Sports report (published June 10) and had 18 more scheduled that week, with a similar slate lined up for the following week.

The league's next event is scheduled for July 23 at JCB Golf & Country Club in the UK, which gives O'Neil roughly a 46-day window between LIV's last Spain event and that UK stop. He described that window as critical. "What we don't have is a lot of time," he said, per Sky Sports. "We're urgently out there talking to those who are interested."

When Sky Sports asked directly whether the final four stops—UK, New York, Indianapolis, and Michigan—would go ahead, O'Neil did not answer. "What I can guarantee is a heck of a return if you come invest in this business," he said.

The Structure of the Ask

O'Neil is weighing whether to find one large private equity firm to write the full $300 million check or to assemble a group of 10 to 12 investors at $25 million to $50 million each. U.S. private equity is the primary target, according to The Mirror (published June 12), but Australia is a secondary focus because LIV's Australian event has consistently been one of its strongest draws.

O'Neil also told CNBC the league is already showing financial improvement on the revenue side. "We're already up $100 million year-on-year," he said. He is pitching a restructured model—lower costs, players brought in as equity partners—that he's calling "LIV 2.0."

DeChambeau and Smith as Salesmen

The league is using its most recognizable players as a closing argument to investors. Two-time major champion Bryson DeChambeau has been sitting in on formal investor meetings, with league insiders telling The Mirror his involvement has been well-received.

Cam Smith, the 2022 Open champion and captain of Ripper GC, is working the Australian angle. O'Neil told the Australian Associated Press the league is in "ongoing dialogue with some prominent Australians" and credited Smith directly. "He has been quite public and quite up-front about his support. He commands impact and influence on those around him, and he has been a true champion for securing the investment," O'Neil said.

Jon Rahm's Contract Status

Yardbarker published a report on what Jon Rahm is reportedly thinking regarding his LIV contract as the investment crisis deepens, but the substance of that article was not recoverable from the source provided. Rahm signed one of LIV's largest reported deals when he joined in 2023. Whether he has contractual protections, exit clauses, or exit intentions tied to the league's financial instability is a material open question that the available sources do not answer.

The Strongest Case for LIV's Survival

LIV has real revenue growth ($100 million year-on-year, per O'Neil's own account), global events that draw crowds, and a roster of elite players with genuine global appeal. The PGA Tour-PIF framework discussions that stalled in 2024 and 2025 demonstrated that the golf establishment takes LIV seriously as a competitive threat. A private equity buyer getting equity in a restructured league at a distressed valuation, with marquee players as co-owners, is not an absurd pitch. It's a format that has worked in European soccer and other sports.

The counterweight is equally real. PIF spent $4 billion to build this and is walking away. That is the loudest possible signal about what the asset is actually worth to a sophisticated, patient owner who had every incentive to stay. Private equity moving in at the 11th hour, with four events' viability already in question, faces a very different risk profile than a sovereign wealth fund that could absorb losses indefinitely.

What Happens Next

The unresolved question is whether O'Neil can convert his meeting calendar into a signed commitment before the July 23 UK event. He has publicly declined to guarantee that event happens. If the funding falls short, the league would face a choice between canceling events, seeking emergency bridge financing from PIF (which has shown no indication of providing it), or collapsing mid-season. A mid-season collapse would trigger player contract disputes and leave tournament venues with no paying tenant. The next concrete data point will be whether the UK event at JCB Golf & Country Club opens as scheduled.