Today, LIV Golf is fighting for a fresh start in New Jersey bankruptcy court after Saudi Arabia’s PIF bankrolled the league from its 2021 launch. However, before Saudi money arrived, Phil Mickelson and Bryson DeChambeau asked Ari Emanuel, head of TKO Group and chair of WME Group, to finance a rival league.

He described how the two approached him on The Golfer’s Journal podcast in answer to a question about reports that someone had asked him to put in a billion dollars for a new league.

“We get a call from Phil and Bryson, I think, before the Saudis. And I say, yeah, I’m in. I think this would be incredible. We could make a deal if we could create a whole thing with the PGA. And for whatever reason, it just wasn’t the right time. I would have done it differently, not in a combative situation,” he said.

“Even though I think it could have been solved. But whatever. You could kind of, you could almost do it like the Premier League, you know, like the English Premier League. And I think that’s what they’re trying to figure out now.”

Emanuel had first shared this on Freakonomics Radio in May 2023. The players envisioned Global Golf as a lucrative, team-based alternative to traditional tournaments. Emanuel was an ideal partner, with the financial muscle to back its $1 billion valuation. He initially embraced the concept, inspired by the English Premier League’s structure.

He took the idea to Egon Durban, co-CEO of Silver Lake and chairman of Endeavor, the company Emanuel led back then. Endeavor, the parent of UFC, IMG, and William Morris Agency, almost agreed to invest $1 billion into LIV.

But the deal fell through, and Emanuel claimed that PGA Tour commissioner Jay Monahan had a hand in that. He promised Monahan that Endeavor would stay out but warned him the tour needed an economic answer to the LIV challenge.

In fact, Golf Digest reported that Endeavor passed because of its wider ties across sports, including the tour, and that Saudi concerns did not factor in. Interestingly, however, neither interview with Emanuel dates the call from Mickelson and Bryson DeChambeau.

Regardless, when LIV launched in October 2021 and staged its first event at Centurion Club in 2022, Mickelson was part of the field. Moreover, Bryson DeChambeau joined in days later for the second event in Portland.

Mickelson eventually played a central role in LIV’s early years, even recruiting some young talent for the league. He captained High Flyers GC at the first event in 2022, signing a guaranteed deal worth about $200 million and taking a 25% stake in the team. The PGA Tour, meanwhile, had suspended him for the move, and he has since faded from the spotlight.

And the rest is history. PIF eventually spent over $5 billion on LIV, then announced on April 30 that it would fund the league only through 2026 after facing severe losses. Since then, LIV has been in bankruptcy court with $15 million in cash and liabilities between $500 million and $1 billion.

Of all the players, DeChambeau appears to be one of the largest creditors, with about $5.8 million. The new investors, BC Partners, have offered $300 million to fund a relaunch, but on condition: LIV must convince its players to continue. However, the players aren’t holding to that promise.

That said, Emanuel’s idea of a ‘Premier League’ is also gaining traction on both sides of the Tour.

PGA Tour CEO Brian Rolapp used a similar comparison in June when he announced the two-tier structure with promotion and relegation for 2028. LIV, on the other hand, is aiming for a relaunch with far fewer events and sharper brand visibility.

However, for now, LIV is still struggling to settle its bankruptcy and find a 2027 calendar. Even if LIV doesn’t survive, Emanuel knows at least he tried.