LIV Golf has always been changing its approach. When the league started in 2022, it offered guaranteed money, no cuts, and a player-friendly schedule. That was enough to attract stars like Phil Mickelson, Dustin Johnson, and, later, Jon Rahm, with huge contracts. Now, four years later, as rumors of a shutdown spread and an emergency meeting takes place in Manhattan, Scott O’Neil made clear exactly what LIV is selling now.

“I know there are some people rooting against LIV Golf… but is golf better without LIV Golf?… I think there’s a lot more to gain with LIV here than LIV gone.”

O’Neil made these comments during an interview with broadcaster Arlo White at the LIV Golf event in Mexico City on April 16. Around the same time, the Financial Times reported that PIF was close to ending its financial support, and the Wall Street Journal described the situation as an “imminent closure.” However, in a memo shared with the Associated Press, O’Neil said the 2026 season would go on “exactly as planned, uninterrupted and at full throttle.”

The league has faced problems before, and O’Neil made no attempt to hide it. He called the current pressure the price of disruption, not a sign of failure.

“You know, having been in private equity now for over a dozen years, this is the process you go through… if you want to ask me if this business is tough, I would say, ‘absolutely’… Can this be challenging? ‘Absolutely’. And that’s what we signed up for.”

By early 2026, PIF had put $5.3 billion into LIV Golf, after a $266.6 million cash injection approved by Yasir Al-Rumayyan on February 1. The league’s UK arm posted a $461.8 million loss in 2024. That makes three straight years of losses over $100 million, after $395.9 million in 2023 and $243.7 million in 2022. O’Neil told the Financial Times in February that breaking even is still five to ten years away.

By the end of 2025, LIV’s total losses reached $1.4 billion. The league has been burning through $100 million every month. As of April 15, the Sports Business Journal reported that player salaries were still unpaid, even though they were due.

O’Neil is not arguing about survival. His focus is on scale and who decides where top-level golf happens.

“Do you want to bet on 340 million people or 7.5 billion people? That’s all I’m saying. That’s the only difference. I’m taking a 7.5 billion person bet.”

LIV’s approach stands in direct opposition to the PGA Tour model. The first U.S. event of the 2026 season is set for May 7 at Trump National in Virginia, underscoring O’Neil’s global-first strategy.

Brooks Koepka and Patrick Reed returned to the PGA Tour in 2026. Despite this, O’Neil has not altered his recruitment message.

“LIV Golf is not for everybody. If you want to spend your time in the U.S., this is the wrong league for you… but if you want to grow the game of golf around the world, this is for you. Boy, there’s nothing like a team after a bad round to pick you up.”

O’Neil points to nearly half a billion dollars in sponsorship agreements with Rolex, HSBC, Aramco, and Salesforce as proof of commercial progress. However, this number represents multi-year contract value announced at Dreamforce in October 2025, not verified revenue. Public filings from the UK entity show $17.1 million in international sponsorship revenue for 2024.

O’Neil directly questioned the sources behind reports suggesting a shutdown.

“I was reading through some coverage this morning and I couldn’t find one source on the record in all the articles that were written. And I would just say, like, let’s be responsible.”

A LIV player, who requested anonymity, told reporters that Al-Rumayyan met with all players in Hong Kong in March and confirmed funding was secured through 2032. This meeting occurred six weeks before the Manhattan summit. Still, the most definitive indication did not come from any official communication.

LIV Golf Left Out of PIF’s 2026–2030 Investment Strategy

On April 15, PIF announced a new five-year plan that focuses more on domestic priorities in Saudi Arabia. LIV Golf was not mentioned at all. Al-Rumayyan told the Financial Times that the ongoing conflict in the Middle East “would add more pressure to reposition some priorities.” According to Fox News anchor Bret Baier, who cited two sources with direct knowledge, Saudi funding will “definitely come to an end” after 2026.

O’Neil ended the Mexico City interview by looking beyond the immediate situation.

“If I am a PGA Tour player, I want LIV to survive. The prize purses are pretty good. Competition is good for business.”

The 2026 season is underway, with Mexico City starting on Thursday. Based on these facts, O’Neil is right: the league is still active. However, neither the memo nor the interview addressed the main question behind every contract: what happens to LIV Golf when Saudi funding ends? The “7.5 billion people” bet only matters if there is another season to play.