There is a Latin expression for a bad year: annus horribilis. I searched Google to see if there was an equivalent for a bad week, because for LIV Golf, last week was awful. Perhaps the worst in its short history.
It began on Tuesday, when LIV Golf CEO Scott O’Neil appeared on CNBC’s “Halftime Report.” Trying to drum up interest among potential investors to fill the breach following the Saudi Arabia Public Investment Fund’s planned exit at the end of this season, he was aggressively defensive when he wasn’t evasive.
Asked about the likelihood of the final four LIV events of 2026 being played, O’Neil offered no guarantees while complimenting the outgoing PIF. “I can say they’ve been terrific partners so far, and you have to take an incredible organization like PIF at their word – and they’ve been very public about funding us through the season,” he said.
Scott O’Neil’s CNBC pitch was deflective at best.
Ben hsu, icon sportswire via getty images
He went on a rant about the rising values of teams in sport, citing Formula One racing as an example. But here’s the thing: O’Neil is not from golf. He is not of golf. He doesn’t get that F1 teams have no relevance to golf. LIV did not gain any traction whatsoever with team golf. Can you name a single LIV team? Bonus points if you can name any team members.
I understand that O’Neil is likely envious of the path that has resulted in team franchise sales for TGL, the indoor simulator league. But there are multiple prominent players involved with TGL, and it enjoys PGA Tour support and real American TV ratings. LIV Golf has neither.
As for O’Neil’s assertion that he can guarantee “a heck of a return if you invest in this business,” I suspect interested investors would like to see that guarantee in writing. I also suspect that securities lawyers unaffiliated with LIV might have a field day with a statement like that during the capital-raising process.
The same day O’Neil appeared on CNBC, Golf Australia announced that it had struck up a partnership with the PGA Tour and the DP World Tour to elevate the Australian Open. The agreement calls for continued DP World Tour co-sanctioning and a significant boost in prize money starting in 2027.
In one of the two markets where LIV has had some success, it had its pocket picked. The reported LIV Golf plan to partner with national opens starting next year was hijacked by Brian Rolapp and Guy Kinnings, the leaders of the PGA and DP World tours.
Thursday was a double whammy. The Financial Times reported that PIF funding of LIV is doled out in increments, and that only $200 million of the promised $600 million has been transferred to LIV so far this year. The PIF’s incentive to fund the rest of this season “would diminish the longer LIV went without securing a new backer,” the report said, citing two unnamed sources familiar with the matter.
This once again raised the question O’Neil tried to dodge on CNBC: Will LIV be able to finish the year as planned?
A report of inappropriate behavior raises further questions about Phil Mickelson’s extended absence.
mike stobe, liv golf
Meanwhile, Thursday’s Golf Digest report that a female employee at a San Diego-area country club had accused LIV poster boy Phil Mickelson of making inappropriate physical contact with her before a round of golf this spring certainly didn’t help public perception of the league. According to the report, officials at The Farms Golf Club asked Mickelson to leave the course after the employee reported the incident, a request with which he complied, and he has since resigned his membership.
The six-time major champion has competed just once this year, in a LIV event in South Africa in March, citing a “family health matter” for his extended absence. Mickelson declined Golf Digest’s request for comment on the allegation, but a Mickelson spokesperson issued a statement that read, “Any misunderstanding has been cleared up. Phil continues to attend to a family health matter and is uncertain when he will be able to return to professional golf.”
Mickelson was effectively a co-founder of LIV with Greg Norman, recruiting PGA Tour players, criticizing the tour and its commissioner, Jay Monahan, and eventually adding his name to an antitrust lawsuit against the tour. His future in golf is every bit as murky as that of LIV Golf, and his unfolding saga is a sad spectacle to witness.
As O’Neil suggested on CNBC, LIV Golf will soldier on as it meets with hopefully interested investors. But the reality is that the once-existential threat to the PGA Tour is fighting for its life and time is short.
Top: Charles Howell strides from the tee in South Africa, one of the markets in which LIV Golf reportedly hopes to partner with a national open.
Jon ferrey, liv golf
