Adam Minter

LIV Golf Seeks New Funding as Saudi Support Recedes

LIV Golf’s future is uncertain as Saudi Arabia’s Public Investment Fund prepares to end its backing and the league seeks new financing, Bloomberg reports. League leader Scott O’Neil says a lead investor has signed a board-approved term sheet, though the deal is nonbinding; Bloomberg’s Reshmi Basu identifies BC Partners as the prospective investor and says potential backers have questioned the player equity required. The league must now show it can become a commercial business after more than $5 billion in Saudi spending failed to produce a television audience comparable with the PGA Tour’s.