LIV Golf has announced a new independent board with two senior figures appointed, who are charged with securing fresh funding to save the team golf tour.
The Saudi Public Investment Fund (PIF) has been propping up LIV Golf to the tune of $5bn over its five-year existence, but is withdrawing funding at the end of the 2026 season.
So LIV Golf has to now transition the business and find outside financial funding to keep going - which is what the new independent board will work on alongside CEO Scott O'Neil.
Two new appointments have been made with business experts in this field, Eugene Davis and Jon Zinman, leading the new board.
“LIV Golf has built something truly differentiated – a global league with passionate fans, world-class talent, and demonstrated commercial momentum,” said Davis, who will be chairman of the Independent Directors Committee.
“The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalize its structure, attract and secure long-term capital, and position the business for growth while continuing to promote the game across the world. We look forward to positioning LIV Golf for future success.”
The new hires show that LIV Golf is serious about continuing beyond the season even without the vast wealth of the PIF behind it.
So from depending on the deep pockets of a sovereign wealth fund, LIV Golf will hope the two experienced consultants can use their expertise to transform the business into one that can stand on its own two feet.
There was no mention of LIV Golf chairman Yasir Al-Rumayyan though, who is reportedly set to step down from his role.
LIV Golf says the next step now is: "Securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model."
LIV also insists in the press release that the league's "conviction in the team golf model has never been stronger" and that will be the focal point of finding new investment.
And discussions are said to be already under way with potential investors.
"The 2026 season has already proven the demand for our product, with record-breaking engagement and a 100% increase in revenue year over year," read the LIV Golf statement.
"We are now leveraging this momentum to engage in constructive, forward-looking discussions with prospective global investors and partners who share our vision for an inclusive and modernized game.
"For our fans, players, and partners, our commitment to world-class golf remains unchanged as this process unfolds."
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