Last week, Cameron Smith had already said the escalation in prize money was unsustainable and that he had no issue with cuts. On Tuesday, LIV Golf's own CEO went on national television and confirmed the league is doing exactly that.

LIV Golf CEO Scott O'Neil appeared on CNBC's Halftime Report on Tuesday. He told host Scott Wapner the league is seeking up to $350 million from new investors to fund operations in 2027 and beyond, as reported by Front Office Sports.

"Will the business be different than it was over the last five years? I can say, dramatically," O'Neil said. "This would be a very disciplined approach. We are cutting the expense side dramatically."

This statement comes as LIV Golf seeks new funding after Saudi Arabia's Public Investment Fund (PIF) announced it will stop financially supporting the league following the 2026 season.

According to Front Office Sports, PIF's spending on LIV Golf will exceed $6 billion this year.

O'Neil told CNBC that investor interest has been varied. "What's been really interesting is: How do you slice this?" he said.

"Is there one partner that comes in, maybe a big private equity firm, at the full $300 million, or do you have 10 or 12 investors at $50 million and $25 million units?"

LIV's revenue is up $100 million over 2025, O'Neil said. However, Front Office Sports noted it is unclear how many of those sponsorship dollars come from Saudi-funded companies such as Aramco. The league has not yet turned a profit.

Cam Smith Had Already Seen It Coming Before the CEO Said It Out Loud

While O'Neil was getting ready to promote LIV Golf on CNBC, Smith had already spoken publicly about the situation.

On June 4, five days before O'Neil's comments, Mirror Sports U.S. asked the Ripper GC captain if lower prize money would affect his commitment to LIV Golf. 

"This has been an awesome four or five years for us golfers," Smith said.

"But I think realistically, it's time for it to come back to the way it was. It was obviously not working, and it's pretty far-fetched, realistically. I'm sure there are going to be a lot of changes, particularly with prize money next year."

Smith joined LIV Golf in August 2022, only a few weeks after winning The Open Championship. Golf Monthly reported that he signed a deal worth more than $100 million.

Since joining LIV, he has earned over $40 million in prize money from individual and team events, including three LIV Golf wins as captain of Ripper GC.

LIV Golf gives out $30 million in prize money at every tournament. Smith said he is okay with lower prize money if needed. His comments may help reassure investors that players will support changes to make the league spend less money.

So, do you think LIV Golf will secure the investment it needs to survive beyond 2026? Let us know your thoughts on this in the comments.

Read more at Club Golf!

Written by

Sneha Abraham

Edited by

Koushik Biswas