LIV Golf CEO says take PIF ‘at its word’ as funding cliff approaches

LIV Golf CEO Scott O’Neill told CNBC on Tuesday that with the financing cliff looming, the organization has to have confidence that the Saudi Public Investment Fund will support the golf project through the rest of the season as promised.

“I can say they have been great partners so far, and a great organization like PIF should take them at their word,” O’Neill said. “They were very public about our funding during the season, so we are going full steam ahead.”

The PIF is scheduled to withdraw its funding from the golf league at the end of the 2026 schedule, CNBC reported in late April. The Chairman of the Public Investment Fund, Yasser Al-Rumayyan, also resigned from his position as Chairman of LIV Golf.

The organization began an investor roadshow last month, seeking to raise up to $350 million from stakeholders to continue its operations.

But recent media reports indicated that the Public Investment Fund may withdraw its funds earlier than planned, raising doubts about whether the league can finish its season.

When asked about those reports, O’Neill said players, management and advisors were “detained”.

Asked if he could guarantee the remaining four tournaments on this year’s schedule, O’Neill said what he “can guarantee is a big return if you invest in this business.”

He added that the organization now needs to be “disciplined and very creative” in order to be sustainable.

“I think we have a very, very special opportunity to create tremendous value,” O’Neill said.

O’Neill said he has so far held five formal meetings to discuss interest in funding the organization, with 18 more scheduled for this week. He said the response has been “positive” and he hopes to finish the fundraising this summer.

“Although we have incredible business momentum, what we don’t have is a lot of time, so we are urgently talking to those interested,” he said.