LIV Golf announces restructuring, new board members as push for funding begins
While the conversation around LIV Golf in recent days is focusing on how many days the league has remaining, LIV itself is focusing on moving forward in an effort to secure funding after the loss of Saudi Arabia's Public Investment Fund financial backing , which is expected to be announced Thursday.
A day after reports surfaced that Yasir Al-Rumayyan, one of the co-founders of the league with Greg Norman , was stepping down as chairman of LIV Golf, the league announced it was restructuring with the hiring of two new members to its board. The league announced it's focused on securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model.
Not one part of its release mentions anything to do with the PIF or any ties to the Saudis, essentially confirming the league is on its own after the PIF restructures its assets itself, with LIV Golf being left on its own following the 2026 season.
LIV Golf has established an independent board and named Gene Davis and Jon Zinman to help guide the league into an unknown future. The release states the duo "are focused on institutionalizing the league and evaluating the range of strategic opportunities that have emerged with the league's rise."
“LIV Golf has built something truly differentiated – a global league with passionate fans, world-class talent, and demonstrated commercial momentum,” said Gene Davis, Chairman of the Independent Directors Committee, said in a release. “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."
Davis is the Chairman and Chief Executive Officer of PIRINATE Consulting Group, LLC, a privately held consulting firm specializing in turnaround management, merger and acquisition consulting, restructuring, and strategic advisory services for public and private business entities.
Zinman is the founder and managing member of JZ Advisors LLC, an independent strategic advisory firm serving companies across industry and life cycle, typically engaging at a time of transformation with a focus on maximizing the company's go-forward growth potential.
The duo will work alongside LIV Golf CEO Scott O'Neil, who has admitted his job has shifted to garnering more sponsors for 2027 and beyond.
LIV Golf faces an uphill battle, but the league does pace $100 million ahead of last year's revenue through five events this year. The league predicts four of its events and 10 of its 13 teams will be profitable in 2026.
At the same time, LIV has lost more than $5 billion since its first event in June 2022, and now it doesn't have the financial backing of the PIF. The clock is ticking to turn a profit for LIV, or the league's future may not exist.
This article originally appeared on Golfweek: LIV Golf is restructuring with loss of Saudi's PIF funding imminent
