LIV Golf Postpones New Orleans Tournament Over Money Problems
LIV Golf postponed its June tournament in New Orleans after losing money from Saudi Arabia's Public Investment Fund. The league is now scrambling to find new funding to keep operating.
LIV Golf postponed its June tournament in New Orleans after losing money from Saudi Arabia's Public Investment Fund. The league is now scrambling to find new funding to keep operating.
The postponement comes less than two weeks after LIV CEO Scott O'Neil said the season would continue "exactly as planned, uninterrupted and at full throttle." Louisiana state officials confirmed they're delaying the event until LIV can fix its money problems and find new investors.
LIV Golf launched in 2022 with backing from Saudi Arabia's government fund. The league paid huge signing bonuses to steal top players from the PGA Tour, including Phil Mickelson and Dustin Johnson. Some players got over $100 million just to join.
But now the Saudi fund has pulled back its commitment, leaving LIV searching for other sources of money. The New Orleans event would have been the first LIV tournament in Louisiana.
The financial troubles raise questions about LIV's future and whether it can keep paying the massive salaries that convinced players to leave the traditional PGA Tour.
This shows LIV Golf, which lured top players away from the PGA Tour with huge paychecks, is having serious money troubles. If more events get canceled, it could shake up professional golf again.
Watch for more LIV tournament cancellations and whether the league can find new investors before other events are affected.
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