Just two weeks later The uncertain future of LIV Golf dominated the news cycleone of LIV’s upcoming events will not go ahead as planned.
In a joint statement released Tuesday, Louisiana Gov. Jeff Landry and Economic Development Secretary Susan Bourgeois confirmed that the June 25-28 LIV Golf Tournament at Bayou Oaks in City Park in New Orleans will be postponed and possibly rescheduled for later this year.
News of the possible postponement was first reported by WDSU on monday. Sources told the news station that the state of Louisiana planned to postpone the event until LIV could restructure financially and find additional sources of funding.
Sources with knowledge of LIV Golf’s operations said the league had been working with the Governor’s office and Louisiana Economic Development to explore new timing options in September or October, although financial issues were not mentioned. The source said the event was pushed back to avoid Louisiana’s peak summer heat, ensure the course is in championship-caliber condition and avoid any participation conflicts with the World Cup; it is unclear why these factors were not considered when the event was originally planned.
LIV Golf’s latest development comes just two weeks after several media outlets reported that LIV’s financial backer, Saudi Arabia’s Public Investment Fund (PIF), was on the verge of withdrawing its funding. This follows on from a PIF announcement made on the same day, outlining a strategic shift for the next five years.
LIV CEO Scott O’Neil addressed the reports in an email to staff, saying, in part, “Our season continues exactly as planned, uninterrupted and at full speed.” Although in a television interview during that week’s tournament in Mexico, O’Neil said: “The reality is you get funded during the season and then you work like crazy as a business to create a business and a business plan to keep us going.” The clip was later deleted.
According to Tuesday’s statement, Secretary Bourgeois spoke with O’Neil on Friday and O’Neil said LIV wanted to push and explore a possible event this fall.
“The state has already paid 3.2 million dollars in accordance with the contract,” the statement said. “LIV is expected to return all of the state’s stimulus funds, except for the $2 million already invested in improvements to City Park, ensuring these improvements remain in place for the community. We appreciate LIV’s good faith efforts and look forward to maintaining our partnership as we continue conversations about an event later this year.”
LIV Golf’s next event is scheduled for May 7-10 at Trump National in Washington, D.C. Its season-ending team championship is scheduled for August 27-30 in Michigan.
