The news we all knew was coming.
LIV Golf announced today that they have found a new funding source, from an outside investor, though the announcement says nothing about who the investor is, or how much funding LIV will be receiving. Which is, IMO, a pretty sketchy announcement, but par for the course (pun intended).
The YouTube algorithm recommended this five-minute video from the Wall Street Journal on the failure of LIV golf. I don’t expect anyone to watch it, but about three minutes in, the video points out that the league secured almost nothing in terms of broadcast rights, leaving it only the Saudi funding to cover costs.
Completely unnamed “new funding source” with zippo details about how much, when, why, etc. This comes across exactly like the AAF, which was bleeding to death for every single day of its existence, yet the guys in charge insisted on smiling and thumbs-upping and constantly shouting “Everything’s going to be fine!” to the bitter end. I really think that someone at the top, for whatever reason, sees failure as a crushing failure or an unbearable shame (as opposed to what these things always are, i.e. poorly thought out abortive spite ventures that are doomed to fail, which is why reasonable people just shrug when that happens) and is fighting absolute tooth and nail to prevent that for as many milliseconds as humanly possible.
My prediction is that the well truly runs dry sometime in '27, the end is announced in a series of stammering tweets, there’s one perfunctory “LIV IS NOT DEAD!!” video on YouTube, Fox Sports does a respectful hour-long tribute, and ESPN just cracks a few bad jokes on Sportscenter before kicking off team synchronized beer shuffleboard or whatever.
Sounds so shady that it might have something to do with Trump, and if so, they’ll never see a dime! But Trump came to mind because (a) he likes golf, and probably sees some sleazy way his golf courses could profit after he was shunned by the PGA, and (b) he’s an expert at investing in losing ventures (the Trump airline, Atlantic CIty casinos, Truth Social, etc.). Besides, who else would be stupid enough to invest in LIV (or at least, promise to)?
Maybe it’s secret funding from his orangeness.
(He’s probably cackling in his secret lair, “I shall have ALL the golf! At last, ALL the trophy’s will be mine!)
Maybe the Saudi’s are really running a scam to fleece him, because that WOULD win them friends all around the world!
LIV Golf announced today that they are cancelling the year’s final event, making this weekend’s tournament the final one of this season.
In a move which had been rumored for a while, LIV Golf filed for Chapter 11 bankruptcy today.
A number of LIV golfers are owed money in the millions.
LIV has indicated that they are shooting for resuming play in 2027 after the restructuring, with the plan being that its golfers will become the majority owners.
It kind of feels like the XFL version of golf.
They certainly didn’t start out with that level of aspiration; I think that they seriously believed that, with the Saudis’ deep pockets, they would be able to peel off enough top-tier golfers to create a viable, comparable competitor to the PGA Tour. (Though, I think they underestimated how many of the top golfers weren’t interested in being part of “sportswashing” the Saudis.)
It wouldn’t surprise me if the bigger names who are still owed big money are offered a bigger ownership share, in place of the contracted payments. That might keep them in LIV for a year or two, but ultimately, I think it’ll sink into debt again, and just fade away with a whimper.
I’m glad it failed. Is it wrong of me to say that? I’m glad that there’s something that Saudi blood money can’t buy.
I mean, for fuck’s sake, they got this year’s Royal Rumble and next year’s WrestleMania.
Absolutely not. It was disgusting from the very start.
Wait a minute… you’re telling me the more-money-than-Haruhi Suzumiya Saudi government, after making a league where literally the entire gameplan was money, money, money, stiffed players to the tune of at least eight figures?? And now the only way to make it up to them is to give them ownership stake, which…geez, this is a sinking ship, why would anyone even want that? It would be like giving away control of the AFL or America Ninja Warrior. Zanmu preserve us, this whole enterprise was just a clown car from start to finish, wasn’t it? I mean, there’s a puncher’s chance LIV creaks past '27 when it dawns on some players that the PGA isn’t going to roll out the red carpet for them, meaning this really is the end of the line, and they fight like hell to keep the train wheezing along for as long as they can, but there’s a good chance almost everyone will have forgotten about it by then anyway.
I still want to see that Fox Sports tribute, if for no other reason than I’m curious as how they’re going to spin anything positive out of the whole slow-motion debacle.
Jon Rahm, one of the biggest names who jumped from the PGA to LIV, has announced that he will not remain with the new league as it goes through bankruptcy reorganization.
So it’s possible that LIV is DED?
LIV and let die…
Geeeeezzzzzz. Seriously. Nine figures. To one golfer.
I recall the old saying (paraphrasing), “If a guy owes you a thousand dollars, he has a problem; if he owes you a million dollars, you have a problem.” Let’s be quite clear, the idea of jumping ship to a clearly evil and unrepentant government under any circumstances repulses me, but if you are going to sell your soul for the bag, get the freaking bag! This is like all those stories I used to hear about this athlete or movie star being like 50 million dollars in debt, and all I can think is what kind of porridgebrain gives away 50 million dollars of stuff without getting payment in advance or at least flipping collateral, for crying out loud. (Made a thread about this! 
) That’s why you always have to be careful when dealing with shady rich types. There’s a reason they stay rich, and if you allow yourself to get starry-eyed for even a moment, that supposed sweetheart deal can turn out to be a bigger joke than Leslie Nielsen.
At this point, LIV’s management is like a hopelessly overmatched boxer eating bomb after bomb after bomb, and the only question is if he’s going to stay on his feet for as long as possible out of sheer defiance and nothing else, or if he’s going to cut his losses, preserve what’s left of his cognitive functions, and start a career in interior decorating like he should have in the first place. I’m sure there’s a betting pool somewhere breathlessly awaiting the final straw. Heck, nowadays I’d be surprised if there wasn’t one.
LIV golf has increased the share of professional golf’s revenue going to top golfers dramatically. Whether this is sustainable remains to be seen.
The LIV golfers were largely a bunch of assholes in my opinion (but it seems like most top golfers are, and in my experience the average amateur golfer is too), but they’ve also made the non-LIV golfers richer. And they did collect very large sums from LIV before it went belly up. It’s not like they were playing for pennies, waiting for equity stakes in LIV to vest.
IMO, it stopped being sustainable the moment that the Saudis pulled out of bankrolling it.
I don’t know if you misunderstood my post or misunderstand the situation. The big shift in the share of money going to golfers is outside LIV golf. Particularly in the PGA. Is the PGA now going to say “Fooled ya!” and roll back the changes they have made over the last four years?