LIV Golf seeks huge sum to secure tournamentâs future
LIV Golf wants new investment of more than $350 million to ensure its future, adamant the breakaway circuit could turn a profit after three years.
LIV Golf is seeking at least $350 million in fresh investment and plans to cut four tournaments to ensure its future beyond this year.
LIVâs Australian tournament in Adelaide appears safe should the new investment be secured by a drive currently underway from leaders of the breakaway league.
A confidential business plan seen by AAP proposed a 10-tournament season from next year, down from 14 events this year.
The plan seeks investment of between $US250m ($A350m) and $US350m ($A490m) and says this funding would drive a âpath to profitability after three yearsâ.
Investment bank Ducera Partners has started presenting the plan to potential âbackers, a source told AAP. LIV is seeking investors for the entire tournament, not just the Adelaide event. InDaily understands the team behind LIV is not seeking taxpayer funds.
LIV golfers including Australiaâs Cam Smith have been briefed about the investment push and responded favourably, the source said.
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LIV was weighing significant early interest in the investment plan, the source said, without detailing specifics.
It comes as Adelaideâs $45 million North Adelaide Golf Course â a plan spearheaded to host LIV 2028 â faces staunch opposition from protesters against the felling of 585 trees.
The 2027 edition of LIV was expected to be hosted at Lockleyâs Kooyonga course, the Premier saying last month that his government would need to know by October 2026 at the latest if there would be impacts to the 2027 event.
LIVâs future beyond this year has been uncertain since its backers, Saudi Arabiaâs Public Investment Fund, pulled funding from next year.
A spokesperson told InDaily today that the SA government âcontinues to monitor LIV Golfâs capital raising effortsâ.
âLIV Golf Adelaide has continually been recognised as the worldâs best golf event and has delivered a significant economic benefit to the state,â the spokesperson said.
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âWe look forward to adding both the menâs and womenâs Australian Operns to our portfolio of major eventsâ.
Saudi Arabiaâs Public Investment Fund, âwhich has spent more than $US5 billion on LIV since its launch four years ago, said last month investment in the league no longer fitted its investment strategy.
That decision has forced LIV hierarchy to scramble for fresh investment to ensure the league continues next year.
The new business plan includes a proposal to give players equity stakes in the league â stars such as Smith, Bryson DeChambeau and Jon Rahm could then take a share of control in LIV.
LIV management could also take equity stakes alongside players and new investors, according to the plan.
A LIV Golf spokesperson confirmed details included in the investment plan.
âLIV Golf is firmly focused on securing a transaction that positions the organisation for the long term,â the spokesperson said in a statement.
âIn the coming days, we will be sharing the framework of our commercially rigorous, go-forward business plan with prospective capital partners.
âWith strong momentum on the course, committed support through the 2026 season, and a clear plan to raise capital, leadership is engaged in identifying the right long-term strategic partners who believe in our mission to grow the game of golf worldwide.
âAs these conversations progress, the company expects to gain further clarity around the structure and timing of a potential transaction.â
LIV Golfâs next tournament will be staged in South Korea from May 28. Six tournaments remain to played this year, the last in late August.
-with AAP
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