LIV Golf CEO Scott O’Neil told CNBC on Tuesday that as a funding cliff approaches, the organization must rely on Saudi Arabia’s Public Investment Fund to support the golf project through the remainder of the season, as promised.
“I can say they’ve been great partners so far, and you have to take an incredible organization like PIF at its word,” O’Neil said. “They’ve been very public about their funding throughout the season, so we’re full steam ahead.”
The PIF is expected to withdraw its funding from the golf league at the end of 2026, CNBC reported in late April. PIF Chairman Yasir Al-Rumayyan also resigned as Chairman of LIV Golf.
The organization launched an investor roadshow last month, seeking to raise up to $350 million from stakeholders to continue its operations.
But recent media reports have suggested the PIF could withdraw its money sooner than expected, raising doubts about the league’s ability to complete its season.
Asked about these reports, O’Neil said players, management and advisors were “locked in.”
Asked if he could guarantee that the remaining four tournaments on this year’s schedule would take place, O’Neil said what he “can guarantee is a heck of a return if you come and invest in this business.”
He added that the organization must now be “disciplined and very, very value-creating” to be sustainable.
“I think we have a very, very special opportunity to create tremendous value,” O’Neil said.
So far, O’Neil said, he has had five formal meetings to discuss interest in funding the organization, with 18 more planned this week. He said the response had been “positive” and he hoped to complete the fundraising process this summer.
“While we have incredible business momentum, what we don’t have is a lot of time, so we are very urgent to talk to those who are interested,” he said.