LIV Golf CEO Scott O'Neil told CNBC on Tuesday that as a funding cliff approaches, the organization has to trust that Saudi Arabia's Public Investment Fund will support the golf venture for the remainder of the season, as promised.
“I can say that they have been excellent partners so far, and you have to take an incredible organization like PIF at their word,” O'Neil said. “They've been very public about funding us during the season, so we're going full steam ahead.”
PIF will withdraw its funding from the golf league at the end of calendar 2026, CNBC reported in late April. PIF President Yasir Al-Rumayyan also resigned from his position as President of LIV Golf.
The organization began an investor roadshow last month, seeking to raise up to $350 million from interested parties to continue its operations.
But recent media reports suggested PIF could withdraw its money earlier than planned, raising questions about whether the league could even finish its season.
When asked about those reports, O'Neil said players, management and advisors are “locked in.”
When asked if he can guarantee that the four remaining tournaments on this year's schedule will take place, O'Neil said that what he “can guarantee is a great return if you come to invest in this business.”
He added that the organization now needs to be “disciplined and very, very creative in terms of values” 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, and there are 18 more planned for this week. He said the response has “been positive” and he hopes to finish the fundraising process this summer.
“While we have incredible business momentum, what we don't have is a lot of time, so we are talking very urgently to those who are interested,” he said.
