LIV Golf is no longer running on fresh capital. It is running on borrowed money, and the clock on finding new investors is ticking louder than ever.

Reports surfaced on June 18, suggesting LIV Golf has put a lending facility in place with its primary backer, Saudi Arabia's Public Investment Fund.

According to Golfweek, the lending facility will cover LIV Golf's operations for the rest of 2026. The PIF plans to stop providing capital when the current season ends.

Money in Sport reported that a 48-page Debenture agreement filed by LIV Golf Ltd in the U.K. on June 4 provides security to its lender, the PIF.

"This agreement refers to a Facility Agreement which is not available from Companies House," Money in Sport wrote. "The Facility Agreement would set out the borrowing facilities available to LIV and associated terms and conditions."

The change from funding through investments to funding through loans comes as LIV Golf CEO Scott O'Neil looks for outside investors. In 2026, the Public Investment Fund (PIF) gave LIV Golf $333 million.

That includes $267 million in February and $66 million in May. According to Money in Sport, LIV Golf spends about $100 million each month. So that money was enough to cover only about three to four months of expenses.

"It's impossible to estimate when LIV's cash might run out because we don't know how much its cash balances were at the point the new capital was received," Money in Sport wrote.

It also noted that the PIF may release loans only after LIV Golf secures commitments from new investors. O'Neil addressed the fundraising effort in a Bloomberg podcast published Thursday.

"We're looking at raising $300 million," he said. "We're talking to a combination of traditional private equity investors that invest in sports, talking to family offices, and a group that I would characterize as sports team owner billionaires."

DeChambeau's contract expiry adds another dimension to the investor search.

Bryson DeChambeau and Jon Rahm's situation Adds Pressure to LIV's Investor Search

DeChambeau's contract expires after this season. O'Neil's comments to CNBC on June 9 gave a clear signal.

"The difference between our league and many others is that this is made for and by the players," O'Neil said. "Bryson was involved in the design of the business plan. So, yes, he's engaged, he's committed."

Jon Rahm's situation runs on a different timeline. His deal runs through 2029, according to a source cited by Front Office Sports. O'Neil said he has been speaking with Rahm regularly.

"They're committed to the league, and they're committed to this program, reimagining team golf, truly growing the game around the world, and making an impact," he said.

Front Office Sports reported that several sources believe Rahm is waiting to see what happens with LIV Golf financially, and may be hoping the league runs into problems that allow him to exit his contract early.

LIV is currently in a 47-day gap between events. LIV Golf will hold its next tournament on July 23 at the JCB Golf and Country Club in the U.K. The league canceled its New Orleans event earlier this year amid the funding uncertainty.

So do you think LIV Golf will secure the $300 million it needs to continue beyond 2026? Let us know in the comments.

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Written by

Sneha Abraham

Edited by

Kaamna Dwivedi