LIV Golf Enlists Investment Bank In Bid To Secure Long-Term Future

Signage at the LIV Golf Team Championship — LIV Golf has enlisted an investment bank to secure its future

(Image credit: Getty Images)

It’s less than a week since the future of LIV Golf was thrown into doubt with confirmation that its backers, the Saudi Public Investment Fund, will withdraw its funding at the end of the season.

The firm was established in 2015 and, according to LIV Golf, in the 11 years since then it "has advised on more than $850 billion in transactions across industries including media, entertainment and sports.”

LIV Golf CEO Scott O’Neil welcomed the news, saying: “This league has proven its value, and our focus now is on building the right financial foundation for the long term.

"Mike (Kramer, CEO of Ducera) and the Ducera team bring deep transaction experience and a track record of delivering in complex, high-stakes situations. They are the right partner for this process."

Kramer said: “LIV Golf has built something that is hard to replicate: a global league with a growing fan base, world-class talent, and a team structure that benefits captain, players, and fans alike.

"We see significant value in what has been created here, and we are focused on helping the league identify the right long-term partners to unlock that value and power its next phase."

Following the news that the PIF was withdrawing its financial backing of LIV Golf, it was announced that it had formed a new board aimed at bringing in outside funding as it transitions to a diversified, multi-partner investment model.

Scott O'Neil during a LIV Golf tournament — Scot O'Neil sees a positive future for LIV Golf

One of two new appointments to the board was Eugene Davis, and he added: “The Board sees a clear opportunity in front of this league, and engaging Ducera is a direct reflection of that conviction.

“They bring the expertise and global reach to help us run a rigorous process and secure the partners that will guide this league into its next chapter with renewed strength.”

The next event in the schedule is this week’s LIV Golf Virginia at Trump National Golf Club in Washington DC, which begins May 7th.

Mike has over 25 years of experience in journalism, including writing on a range of sports throughout that time, such as golf, football and cricket. Now a freelance staff writer for Golf Monthly, he is dedicated to covering the game's most newsworthy stories.

He has written hundreds of articles on the game, from features offering insights into how members of the public can play some of the world's most revered courses, to breaking news stories affecting everything from the PGA Tour and LIV Golf to developmental Tours and the amateur game.

Mike grew up in East Yorkshire and began his career in journalism in 1997. He then moved to London in 2003 as his career flourished, and nowadays resides in New Brunswick, Canada, where he and his wife raise their young family less than a mile from his local course.

Kevin Cook’s acclaimed 2007 biography, Tommy’s Honour, about golf’s founding father and son, remains one of his all-time favourite sports books.