LIV Golf CEO says take PIF ‘at their word’ as funding cliff nears

LIV Golf CEO Scott O’Neil told CNBC on Tuesday that as the funding cliff approaches, the organization must have confidence that Saudi Arabia’s Public Investment Fund will support its golf initiative for the remainder of the season as promised.

“I can say they have been great partners so far, and you have to take the word of an incredible organization like PIF,” O’Neil said. “They’ve been very public about funding us throughout the season, so we’re full steam ahead.”

PIF is preparing to withdraw its funding from the golf league at the end of its 2026 schedule, CNBC reported in late April. PIF President Yasir Al-Rumayyan also left his position as president of LIV Golf.

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

However, recent media reports have suggested that PIF may withdraw its money earlier than planned, raising doubts about whether the league will be able to complete its season.

When asked about these reports, O’Neil said players, management and consultants were “locked in.”

When asked if he could guarantee that the remaining four tournaments on this year’s schedule would take place, O’Neil said he could “guarantee a very good return if you invest in this business.”

He added that in order to be sustainable, the organization must now be “disciplined and very, very value-creating.”

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

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

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