LIV Golf Tries to Survive Without Saudi Billions

Author Alan Shipnuck discusses LIV Golf's financial struggles, the search for a new lead investor (BC Partners), planned purse cuts, and the end of lavish guaranteed contracts. He outlines a future 'LIV 2.0' that will be a smaller tour, with survival hinging on retaining stars like Jon Rahm and Bryson DeChambeau and proving it can attract fans. International events have shown promise, but US events have been failures, raising doubts about the league's long-term relevance as a standalone business without Saudi backing. - LIV Golf is seeking fresh investment led by BC Partners to sustain operations after burning cash for 4.5 years. - The league plans to slash purses and terminate guaranteed player payouts, ending the era of lavish spending. - Star players Jon Rahm and Bryson DeChambeau are being offered equity to stay, but cash guarantees are gone and defections are likely. - US tournaments have been disasters with low fan interest, while international events in Australia, South Africa, and Korea have generated more buzz. - A fully international schedule would improve LIV's chances, but the US-based investor may push for domestic events. - Players like Brooks Koepka and Patrick Reed have already returned to the PGA Tour, reducing LIV's competitive threat. - The PGA Tour is seen as a beneficiary of LIV's downsizing, as the league becomes a smaller second- or third-tier tour. - Originally a Saudi soft-power exercise, LIV must now stand on its own commercially, with survival in 2027 possible but relevance uncertain.