The Open Championship tees off at Royal Birkdale this week with the world's best players in the field, but it could also be the last major where LIV Golf still exists as a functioning league.

LIV Golf CEO Scott O'Neil is racing to raise between US$250 million and US$300 million, equivalent to $361 million to $433 million Australian, by September 1, according to Fox Sports on July 15. Saudi Arabia's Public Investment Fund announced in April it will not fund LIV beyond this season. Bloomberg reported in May that LIV has begun laying the groundwork to potentially file for bankruptcy in the United States at season's end.

O'Neil has told investors the league will be profitable in three years with US$250 million in new funding. When asked last month whether he could guarantee the remainder of this season's events would be played, he stopped short. "What I can guarantee is a heck of a return if you come invest in this business," he said.

According to Fox Sports, Golf Digest obtained an investment deck for what is being called "LIV 2.0." The plan would give players a share in their teams instead of guaranteed contracts. "LIV 2.0 is focused on player ownership, team shares, and creating long-term value. It gives players a direct share in the league's success," the presentation said.

This would be a big change. Jon Rahm still has several years left on his reported $300 million contract.

Bryson DeChambeau's contract expires at year's end, with reports suggesting he was chasing a new deal worth up to US$500 million earlier this year.

LIV also faces a lawsuit from English companies World Golf Group and Premier Golf League, seeking between US$210 million and US$630 million in damages.

The league hasn't hosted a tournament since the U.S. Open, a gap that sent Rahm to last week's Scottish Open at The Renaissance Club.

The PGA Tour and Golf Australia strike a deal as LIV future stays uncertain

Last month, Golf Australia announced a new multi-year partnership with the PGA Tour for the men's Australian Open.

The partnership will begin in 2027 at Peninsula-Kingswood in Melbourne. The DP World Tour will continue to help run the tournament.

Scottie Scheffler spoke about the Australian events during his press conference at last week's Scottish Open.

"I love golf, and I would love to be able to play more internationally, like Australia," he said on July 8 at The Renaissance Club in North Berwick, Scotland, per Reuters. "Going to play the sandbelt in Australia would be pretty special."

Rahm echoed that sentiment at the Scottish Open. "Those events in Australia look unbelievable, and from what I've experienced there, it's a lot of fun," he said.

O'Neil needs between US$250 million and US$300 million closed before September 1. Two events remain on the LIV calendar after Royal Birkdale.

Do you think LIV Golf will survive beyond 2026? Tell us in the comments!

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Written by

Sneha Abraham

Edited by

Zaid Quraishi