Chief executive Scott O’Neil said a signed agreement with a new investor is in place and has been approved by the LIV Golf board, with the transaction expected to be completed in September. Until then, LIV bosses are said to be taking a disciplined approach to support its long-term sustainability and maintain operations.
No details of the amount of money that will be invested were announced. PIF has pumped in more than $5bn (£3.71bn) since the league launched in 2022.
O’Neil added LIV will make its players “majority equity holders” in the competition, calling it “a first for a major global sports league”.
The LIV press release said the proposed deal with the lead investor is for “2027 and beyond”.
The competition will reduce to 10 events from next season, with five in the United States and five held around the world.
There were 14 events planned for the 2026 season but in April, LIV postponed June’s New Orleans competition amid questions over its future and has not announced a rescheduled date.
Last week, O’Neil said LIV was focused on “finishing the 2026 season strong”, but made no explicit mention of the final two events scheduled this season, in Indianapolis from 23 August and the concluding Team Championship in Michigan from 30 August.
Alongside Rahm, major winners including Bryson DeChambeau, Dustin Johnson, Cameron Smith, Martin Kaymer and Sergio Garcia remain part of the LIV roster after having left the PGA Tour.
American major champions Brooks Koepka and Patrick Reed rejoined the PGA Tour after it introduced a returning member programme.
Last week, when asked about the series’ biggest stars, O’Neil said: “I think when you have a global game and you have 57 players from 21 countries and you’re playing in 10 countries on five continents, how you define stars gets really interesting.
“So while I have all the time in the world for Jon Rahm and Bryson DeChambeau, I think I’d be remiss in saying they’re not only two of the biggest, best golfers on the planet, but I think they’re some of the biggest stars in sports, let alone golf.
“Would certainly love them to come along for the ride and journey because they carry maybe more weight than anybody in the game and I have a lot of time for that.”
In July, the PGA Tour and DP World Tour struck an alliance with the Asian Tour in another blow to LIV Golf.
LIV was founded in 2021 and launched the following year with 54-hole events, taking its name from the Roman numeral for 54.
However, it moved to the traditional 72-hole format for golf tournaments from this season.
