LIV Golf postpones New Orleans event that had been scheduled for June: Source
The New York Times • • sports
Key Points:
- LIV Golf has postponed its Louisiana event originally scheduled for June 25 due to changes in its business model following reports that Saudi Arabia’s Public Investment Fund may withdraw funding.
- The postponement was agreed upon after discussions between LIV Golf CEO Scott O’Neil and Louisiana Economic Development Secretary Susan Bourgeois, with plans to possibly reschedule a re-envisioned event in the fall.
- Louisiana had committed approximately $7 million in state funds for the event, with $2 million spent on course improvements and $1.2 million in hosting fees to be returned by LIV Golf under clawback provisions.
- LIV Golf is currently seeking new funding sources, including selling equity in its teams and exploring partnerships with national golf opens, as it faces uncertainty after potential loss of PIF support.
- Despite the postponement in Louisiana, LIV Golf’s Virginia event at Trump National Golf Club remains scheduled to start on May 7 in Washington, D.C.
