LIV Golf has secured a "lead investor" to safeguard its operations until 2030. Scott O’Neil, LIV's chief executive, confirmed the development on Wednesday, stating that a term sheet has been approved by the board.
Mr O'Neil declined to disclose the identity of the new funders or the specific details of the agreement. He stated, "At this point we are keeping the details of the deal, the investor, and much of what you might want to know in this second phase out of the media."
The new funding follows the withdrawal of backing from Saudi Arabia’s Public Investment Fund. Mr O'Neil indicated that the deal will protect the 2027, 2028, 2029, and 2030 seasons, describing the investor as one "of weight."
Despite the new investment, the agreement is reportedly unlikely to prevent a number of high-profile players from departing by the end of this year. Mr O'Neil expressed his desire for star players such as Jon Rahm and Bryson DeChambeau to remain with the tour.
From 2027, the tour's format is understood to involve a core of 10 events, each with a prize fund of $10 million. Players are expected to be given the majority of equity in the business.