LIV Golf is considering filing for bankruptcy protection in the United States, if it cannot secure the necessary funding to advance the tour beyond this season. According to Axios, sources say CEO Scott O'Neil is considering the move to provide him more time to restructure the tour and its finances.
The report claims O'Neal is seeking to secure $250 million in investment for 2027, a massive reduction in the $1.5 billion Saudi Arabia's PIF was issuing annually. However, O'Neal is attempting to sell the tour's teams as franchises to companies or individual investors as part of his restructure.
O'Neal claims he's two weeks away from releasing the tour's business plan, which he says will have the tour profitable in two years.
My take: LIV might exist beyond 2026, but I can't see how it will be an attractive alternative to the PGA Tour if the prize money is dramatically reduced and the number of events are limited, and this just after receiving world-ranking points this year.
THE ASYLUM
LIV considers bankruptcy
LIV Golf is considering filing for bankruptcy protection in the United States, if it cannot secure the necessary funding to advance the tour beyond this season. According to Axios, sources say CEO Scott O'Neil is considering the move to provide him more time to restructure the tour and its finances.
The report claims O'Neal is seeking to secure $250 million in investment for 2027, a massive reduction in the $1.5 billion Saudi Arabia's PIF was issuing annually. However, O'Neal is attempting to sell the tour's teams as franchises to companies or individual investors as part of his restructure.
O'Neal claims he's two weeks away from releasing the tour's business plan, which he says will have the tour profitable in two years.
My take: LIV might exist beyond 2026, but I can't see how it will be an attractive alternative to the PGA Tour if the prize money is dramatically reduced and the number of events are limited, and this just after receiving world-ranking points this year.
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