LIV Golf cancels Michigan finale, ends season early
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- LIV Golf League confirmed Monday that its Aug. 27-30 season-ending championship at The Cardinal at Saint John's in Plymouth, Michigan, has been canceled, making this week's tournament at The Club at Chatham Hills in Westfield, Indiana, the final event of the season.
- Scott O'Neil, LIV Golf CEO, said in a statement that concluding the season now allows the league to 'put our full resources behind what comes next' as it transitions to a player-owned league with a sustainable business model.
- LIV Golf also cancelled previously announced concerts featuring country singer Thomas Rhett and Disco Lines at this week's Indiana tournament, acknowledging the disappointment to fans, artists, and local stakeholders.
- Scott O'Neil announced on Aug. 5 that LIV Golf secured funding from an unnamed outside investor to keep the circuit alive beyond this season, with terms hoped to be finalized in coming weeks and the transaction closing in September.
- O'Neil is seeking $250 million to $300 million to keep the league afloat after Saudi Arabia's Public Investment Fund announced April 30 it would no longer finance LIV, having reportedly spent more than $5 billion on the circuit over the past five seasons.
- The new LIV Golf would make golfers the majority equity holders, which O'Neil said would be a first for a major global sports league.
Why it matters: LIV Golf is cutting its season short and cancelling a marquee finale to conserve cash while it races to close a $250-$300 million deal with an unnamed outside investor by September, after Saudi Arabia's PIF walked away after sinking more than $5 billion into the circuit over five seasons — with players set to become majority owners in the restructured league.
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