Bryson DeChambeau is staying positive about LIV Golf’s uncertain future, as the league searches for new financial backing with the Saudi PIF ending its funding after this season.
“We were surprised that they pulled out as quickly as they did. We didn’t really see that coming,” DeChambeau said Tuesday at his pre-tournament press conference ahead of this week’s LIV Golf Korea event at Asiad Country Club in Busan, South Korea.
“But that’s okay,” said DeChambeau, whose LIV contract is set to expire later this year. “One door closes, another opens. I think that’s the way a lot of us are looking at it. I think we all have optimism that there is a business plan that makes sense for team golf.”
LIV created a new independent board led by two longtime corporate restructuring executives and hired U.S.-based Ducera Partners as its investment banking adviser—all of which have previously worked on various bankruptcy efforts for companies in financial crisis.
The golf league is considering centralizing its headquarters in the U.S. to benefit from the country’s more favorable bankruptcy restructuring laws, Bloomberg reported last week. LIV is currently based across several jurisdictions, including the U.K., U.S., and the island of Jersey.
