The LIV Golf chief executive, Scott OâNeil, has admitted the nascent golf leagueâs finances are âmanaged very tightlyâ and said structural changes are on the way that would probably mean they needed to raise money, but he remained adamant the league would not fold.
He was interviewed by LIV employees during the TV broadcast of the first round of the rebel tourâs Mexico City leg, a day after reports that Saudi Arabiaâs Public Investment Fund was to cut its funding for the league it helped launch in 2022.
OâNeil, who has been in the position for 16 months after succeeding Greg Norman, did not address Saudi Arabia or its funding in the interview.
âFor us, weâre business as usual,â OâNeil said. âIf you want to ask me if this business is tough, I would say absolutely. If you asked me if weâre managed very tightly, I would say absolutely. Can this be challenging? Absolutely, and thatâs what we signed up for, not just me, you, everyone here thatâs with us down in Mexico City. We signed up for this adventure, and it is the ride of a lifetime, or should I say: round of a lifetime.â
OâNeil and LIV broadcasters poked fun at the report and the speculation that ensued. At the top of the broadcast, the former player David Feherty called the reports âabsolute nonsenseâ while Arlo White said: âIt must be exhausting trying to will the LIV Golf league out of existence.â
In the interview, OâNeil seemed to confirm that LIV executives met in New York this week while playing down the idea that they were âsummonedâ. âI live in New York so it was easy to summon myself there, but it was a lot of reaching and grabbing for headlines and clickbait and stories,â OâNeil said.
OâNeil hinted more than once at structural changes coming to LIV Golf, though it is unclear if that pertained to format, business structure or something else. LIV has already shed its 54-hole tournament format, moving to a traditional 72 holes in order to receive limited Official World Golf Ranking points. The LIV name was derived from the 54-hole format, as LIV is 54 in Roman numerals.
âHow we go forward is what Iâm really excited about,â OâNeil said. âI talked about some structural changes. Theyâre coming. You can ask just about the 50 people I met in Augusta [at the Masters]. I rolled out the plan. We have one, and it is going to ⊠it might surprise some people. But I will tell you, this notion of bringing teams to market, I had two calls this morning. This notion of: âDo you have to raise money?â Probably. This is business.
âBut if we keep the trajectory going the way we are and the revenue growth going, this is going to be a really good business for a really long time.â
OâNeil repeatedly touted LIV Golfâs global appeal. While it has struggled to gain footing or attract TV ratings in the US, some of LIVâs most popular events have been in Australia and Asia, markets traditionally underserved by the PGA Tour and the DP World Tour.
âFrom a business standpoint, we did almost a half a billion dollars in sponsorship last year with big brands like Rolex and HSBC, Aramco. These are global brands. Iâm thinking weâre in a wonderful position,â OâNeil said. âFrom a structural standpoint, this business will continue to evolve as it has over the last 12 months. The good news for us is we know how to put on a show. We know how to grow the game.
âWill there be a change in how we operate? Of course. I would have told you that last year and six months ago. We are looking to blend a version of LIV and the national opens, the great national opens around the world.â
He was interviewed by LIV employees during the TV broadcast of the first round of the rebel tourâs Mexico City leg, a day after reports that Saudi Arabiaâs Public Investment Fund was to cut its funding for the league it helped launch in 2022.
OâNeil, who has been in the position for 16 months after succeeding Greg Norman, did not address Saudi Arabia or its funding in the interview.
âFor us, weâre business as usual,â OâNeil said. âIf you want to ask me if this business is tough, I would say absolutely. If you asked me if weâre managed very tightly, I would say absolutely. Can this be challenging? Absolutely, and thatâs what we signed up for, not just me, you, everyone here thatâs with us down in Mexico City. We signed up for this adventure, and it is the ride of a lifetime, or should I say: round of a lifetime.â
OâNeil and LIV broadcasters poked fun at the report and the speculation that ensued. At the top of the broadcast, the former player David Feherty called the reports âabsolute nonsenseâ while Arlo White said: âIt must be exhausting trying to will the LIV Golf league out of existence.â
In the interview, OâNeil seemed to confirm that LIV executives met in New York this week while playing down the idea that they were âsummonedâ. âI live in New York so it was easy to summon myself there, but it was a lot of reaching and grabbing for headlines and clickbait and stories,â OâNeil said.
OâNeil hinted more than once at structural changes coming to LIV Golf, though it is unclear if that pertained to format, business structure or something else. LIV has already shed its 54-hole tournament format, moving to a traditional 72 holes in order to receive limited Official World Golf Ranking points. The LIV name was derived from the 54-hole format, as LIV is 54 in Roman numerals.
âHow we go forward is what Iâm really excited about,â OâNeil said. âI talked about some structural changes. Theyâre coming. You can ask just about the 50 people I met in Augusta [at the Masters]. I rolled out the plan. We have one, and it is going to ⊠it might surprise some people. But I will tell you, this notion of bringing teams to market, I had two calls this morning. This notion of: âDo you have to raise money?â Probably. This is business.
âBut if we keep the trajectory going the way we are and the revenue growth going, this is going to be a really good business for a really long time.â
OâNeil repeatedly touted LIV Golfâs global appeal. While it has struggled to gain footing or attract TV ratings in the US, some of LIVâs most popular events have been in Australia and Asia, markets traditionally underserved by the PGA Tour and the DP World Tour.
âFrom a business standpoint, we did almost a half a billion dollars in sponsorship last year with big brands like Rolex and HSBC, Aramco. These are global brands. Iâm thinking weâre in a wonderful position,â OâNeil said. âFrom a structural standpoint, this business will continue to evolve as it has over the last 12 months. The good news for us is we know how to put on a show. We know how to grow the game.
âWill there be a change in how we operate? Of course. I would have told you that last year and six months ago. We are looking to blend a version of LIV and the national opens, the great national opens around the world.â
