LIV Golf says it has found the cash it needs to survive.
On Wednesday, the renegade golf league announced that it had struck a deal with a lead investor and had received interest from more than a dozen minority partners. The identity of LIV Golf’s new capital source and the amount of money invested were not disclosed, but the league expects the transaction to go through in September.
“LIV Golf has an agreement in place with a lead investor, signed by the investor and approved by the Board, to anchor the transaction and play a key role in supporting the path forward for the League’s next era,” LIV Golf CEO Scott O’Neil said in a statement.
Additionally, the league’s next phase will be “driven by and for the players,” O’Neil noted, with LIV adding that the players will be majority equity holders in the league. How that structure will play out, especially with the prospect of new investors coming on board, is unclear.
The New York Post previously reported that LIV Golf was near an agreement.
