The PGA Tour and the LIV Golf have been at loggerheads for years. Back in 2022, when the PIF-backed league burst onto the scene, it drew a lot of flak from the PGA Tour as it shook up the sport’s hierarchy. With lucrative financial incentives on the table, several big PGA names made the jump. Now, even after almost four years, the relationship remains salty. And in the midst of all this, a new investment has targeted both markets at once. 

“We’re looking at golf, and there could not be two better commissioners with Brian Rolapp at the PGA Tour and Scott O’Neil in LIV Golf. Those are two of the smartest guys in sports,” said Dave Checketts to SportsPro New York. 

He further added, “So, I will invest in golf, but scarcity value, good markets, good operators, minority stakes and people that will let us get involved and help them create the kind of culture where people do their best work.”

Checketts is an American businessman and sports executive who has formerly been an owner of franchises like the Utah Jazz, New York Knicks, and New York Liberty, among others. Last year, he partnered with The Cynosure Group to form the Cynosure | Checketts Sports Capital, an investment company based out of New York City and Salt Lake City, with the goal of finding high-growth investment opportunities in all areas of the global sports industry.

With the introduction of independent capital into a situation where there have previously only been dominant, aligned financial forces, this new funding could shift the PGA Tour–LIV Golf rivalry into a new phase.

As per the latest data, the PIF has spent $5.3 billion on the league. Unfortunately, as per Scott O’Neil’s analysis, the tournament is destined to run at a loss for the next five to ten years. Thus, the news of Checketts’ willingness to put in so much money should be a welcome sign for LIV. 

The PGA Tour, on the other hand, is currently booming. Their latest annual report suggested a healthy valuation of the league crossing the $12.9 billion threshold. And that was not all. The Tour also had a $1.5 billion investment coming from the Strategic Sports Group back in 2024. 

Furthermore, Checketts‘ fund is not aligned with either side and has expressly stated that it will be purposely investing in areas that are at the heart of the power struggle, like media rights and infrastructure relating to sport. As such, this is likely to have a major bearing on how golf is broadcast and structured, and on how it can expand globally as opposed to simply being about player acquisition.

Not to forget that, as of now, there are no positive reports on a possible merger between the two, with both parties set on their parallel strategies. So, Checketts’ investment, if it goes through, will likely have a major impact on valuations, prolonging any potential alignment, and could create other growth paths not consistent with being a unified franchise.

LIV Golf funding crosses $5.3 billion after latest Saudi PIF boost

The Saudi Public Investment Fund (PIF) initially committed $2 billion to launch the LIV Golf Invitational Series in 2022. But a recent update reveals that Saudi Arabia’s Public Investment Fund (PIF) has again poured in $266.6m, which means that LIV Golf has now accumulated $5.3 billion from PIF.

In late 2022, following a successful eight-event inaugural season, the PIF increased its commitment by an additional $2 billion to expand the 2023 schedule to 14 events. A major portion of these 2022 funds went toward massive signing bonuses for LIV’s top players. The list includes Phil Mickelson, who reportedly claimed $200 million, Bryson DeChambeau, and Dustin Johnson (reportedly $125 million each).

Every month, $100 million is spent on the breakaway league, which would not have been feasible without the financial backing that they have constantly been receiving from the Saudi sovereign wealth fund. Even more so because they still lack any notable funding from commercial, broadcast, or event-based revenues. 

If the league follows this pattern, the Saudi Public Investment Fund will have to spend $1.2 billion to continue backing their events for the 2026 golf calendar. And once the 2026 season is successfully concluded, the total amount spent by PIF on the league will go up to $6 billion.