That LIV Golf was not a sustainable business was obvious. You did not have to be a numbers whiz to realise that the only means of subsistence for this circuit was the bottomless pocket of the PIF. With that income stream definitively closed (guaranteed only until the end of this season), a new model must be found to continue the league. Scott O’Neil, CEO of LIV, who has been left with the mess following the departure of Greg Norman, is working on that.
O’Neil spoke publicly for the first time on Tuesday at a press conference, taking questions from journalists. Here we summarise the most important and relevant points of his remarks:
1. LIV Golf is undergoing restructuring
Scott O’Neil openly acknowledges that LIV Golf is in a phase of transition, of resetting the business plan and of seeking an economically sustainable structure.
His main idea is clear: LIV must stop operating as a project sustained almost exclusively by financing from the PIF and become a real business, with revenue, tightened costs, investors and value in the teams.
Key quote:
“We have to create a plan that works from a business perspective, from a profit and loss perspective, like any other business in the world”
2. The PIF will fund LIV until the end of the season
O’Neil confirms that the PIF remains the majority owner and that it has agreed to finance the league until the end of this season.
Key quote:
“They now own the majority of the business and have agreed to fund it until the end of the season. Nothing has changed there”
That said, he avoids committing to anything beyond this year.
3. There will be “significant changes” for 2027
Scott would not specify whether prize funds will be reduced, whether contracts will change or whether the structure will be cut back, but he did admit that important and substantial changes are coming next year.
Key quote:
“We have time, fortunately, and it is next year when we are going to make some quite significant and substantial changes”
4. He does not rule out a prize-money reduction, but neither confirms it
He is asked directly whether LIV could reduce prize purses to survive. O’Neil does not deny it, but he does not confirm it either. He limits himself to saying he will not discuss the plan until it is finalised.
Key quote:
“I have not denied it, nor committed to it, nor said anything. I will not talk about the plan until we have it”
5. The value of the business is in the teams
One of the most important points of the appearance: O’Neil believes that the true future value of LIV lies in its franchises/teams.
He compares the evolution of team values in the NBA, NFL, NWSL and WNBA to argue that LIV teams could become highly valuable assets if the business is organised properly.
Key quote:
“If you ask me where the value of this business is, it is in the teams”
6. Action plan: players, business plan, market and investors
O’Neil summarises the order of operations:
First, align the players.
Then, finalise a business plan.
Next, go to the market to raise capital.
Finally, find investors for the teams.
Key quote:
“We are going to create a business plan, we will work hand in hand with the players, we will go to the market and raise money, and then we will look for investors for the teams”
7. Players are key and they are under contract
Scott insists that the players are partners in the business, not mere employees. He also points out that they are under contract, so LIV counts on them for this transition.
Key quote:
“The good news is that they are all with me. They are under contract, so I have them”
He also says there will be no distance between the information the league has and that held by captains such as Bryson, Jon Rahm, Phil Mickelson, Bubba Watson, Cam Smith or Dustin Johnson.
8. LIV wants its players to be able to play other tours
One of the most powerful messages: O’Neil argues that LIV does not restrict its players. He says it only commits them for 14 weeks a year and that the rest they should be able to play wherever they wish.
Key quote:
“Never, since our inception, have we restricted our players. Sanctions and fines are not our thing. Let them play where they want to play”
And he adds: “We believe in free golf, in them being free agents”. The hypocrisy here is brutal. They are free, except for the 14 weeks that by contract they must play with LIV… On the PGA Tour or DP World Tour they do not force anyone to play any tournament by contract
9. The majors are fundamental for LIV
O’Neil recognises that the majors are “the biggest stage in golf” and that he would like to see many more LIV players in them.
He says that at the PGA Championship there will be 11 LIV players, but that there should be 20 or even 25 in a field of 156.
Key quote:
“I would like that number to be 20 in a field of 156. Should it be 25? Probably”
10. Phil Mickelson is helping LIV
O’Neil confirms that Phil Mickelson, although absent for personal reasons, is helping in this process.
Key quote:
“Yes, he is one of the players who is helping me, of course”
También destaca su peso dentro del golf:
“His presence is missed. He carries a lot of weight in every room he enters”
