PLAYA DEL CARMEN, MEXICO – FEBRUARY 02: Captain Jon Rahm of Legion XIII warms up in the practice area during day one of the LIV Golf Invitational – Mayakoba at El Camaleon at Mayakoba on February 02, 2024 in Playa del Carmen, Mexico. (Photo by Manuel Velasquez/Getty Images)
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LIV Golf announced its pursuit of $250 million in fundraising to continue its golf tour after funding from Saudi Arabia’s Public Investment Fund (PIF) was reportedly pulled. CEO Scott O’Neil also announced that the league expects to become profitable within two years, down from the initial expectation of ten years. Bloomberg reported that there are plans to move the headquarters to the United States, where bankruptcy laws are more favorable.
Source: Bloomberg
“LIV Golf is firmly focused on securing a transaction that positions the organization for the long term,” a LIV Golf spokesperson said. “As we begin presenting our go-forward business plan to prospective capital partners, we are focused on achieving a sustainable future, and there are multiple pathways under active exploration.
“We continue to see great momentum on the course, and with support through the 2026 season and a clear plan to raise capital, leadership is focused on identifying the right long-term strategic partners who believe in our mission to grow the game of golf worldwide. These conversations are just getting underway, and as they progress, the company expects to gain further clarity around the structure and timing of a potential transaction.”
Source: ESPN
It is unclear how players’ signing bonuses are paid, whether in a large lump sum upfront or through a vesting schedule. Players’ signing bonuses range from Jon Rahm’s rumored $300 million to Harold Varner III’s rumored $15 million. As a result, the tour could need substantial funds on hand to complete payments through 2027. LIV Golf has reportedly spent an estimated $5 billion since its inception in 2021.
LIV Golf pays the highest average prize money of any professional golf tour, awarding $4 million to each tournament winner. Even though it hosts fewer tournaments than the PGA Tour, LIV Golf reportedly pays out approximately $1.59 billion across 14 tournaments.
According to Today’s Golfer, LIV Golf’s total revenue for 2025 is estimated at $100 million. With the organization seeking $250 million in investment to pursue the 2027 season, there appears to be a considerable gap between available capital and total liabilities.
According to Chris Lamb, the PGA Tour earned an estimated $1.9 billion during the 2023 season. While this demonstrates the earning potential of a professional golf league, LIV Golf’s revenue projections appear less likely given that it hosts only 14 events compared to the PGA Tour’s 50.
LIV Golf also signed an agreement with TNT Sports that will make its events available on its channels and the Discovery+ app in the United Kingdom, while continuing its partnership with Fox Corporation in the United States. However, the additional media revenue is unlikely to close the financial gap between league expenses and seasonal revenue.
“Our new partnership with TNT Sports represents a historic moment for LIV Golf as we cement our footprint in one of the most important and influential sports territories in the world,” said Orjan Olsson, LIV Golf’s Executive Vice President of International Media Rights.
Source: Today’s Golfer
LIV Golf events continue to be named after their locations rather than corporate sponsors, though that is likely to change as the league seeks additional funding. Title sponsorships on the PGA Tour are reportedly priced between $13 million and $15 million per tournament. Even at those rates, LIV Golf would raise only about $210 million across its 14 tournaments.
There are some signs of growth, however, as LIV Golf announced more than a twofold increase in ticket sales from the 2024 to 2025 season. The Adelaide event was reportedly its highest-grossing tournament, generating an estimated $57 million USD in revenue. While it is unlikely every event matched that performance, if they had, LIV Golf would have generated approximately $789 million in ticket revenue.
According to Essentially Sports, LIV Golf is also expected to reduce its schedule from 14 tournaments to 10 beginning in 2027, further limiting revenue opportunities.
Source: Essentially Sports
Based on its projected revenues, it appears unlikely that LIV Golf can continue spending $1.59 billion per season. However, with additional investment opportunities and alternative revenue streams, the continuation of the tour is still possible.