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New public filings from LIV Golf this week give a rare glimpse into the league’s growing financial losses.
In 2024, LIV Golf Ltd., the U.K.-based firm that runs LIV’s non-U.S. operations, reported losses totaling $461.8 million. Revenue came in at $64.9 million, but expenses were $526.7 million.
Last year, LIV hosted 14 events, seven of which were outside the U.S., and so fall under LIV Golf Ltd. The seven American tournaments fall under the U.S.-based LIV Golf Inc., which is private and does not release specific financial figures.
LIV Golf Ltd.’s 2024 losses rose roughly 16% from $395.9 million in 2023. The company has lost more than $1.1 billion since it was created in 2021. Details of huge signing bonuses (reported to be in the nine-figures in some cases) to lure top players like Jon Rahm are not laid out in any of LIV’s filings. Nearly $1.4 billion in prize money has been paid out since 2022, though.
This past season, LIV played six U.S. events and eight abroad. LIV has officially confirmed only 11 of the expected 14 events on the 2026 schedule, three of which are set for the U.S. and eight in other countries.
LIV’s exact global financial losses are not clear, but the Public Investment Fund of Saudi Arabia is believed to have invested nearly $5 billion into operating the golf tour, according to the Financial Times.
LIV Golf Ltd.’s latest filing noted the PIF has “provided a letter of support,” and directors “therefore believe that the group and parent company has access to sufficient financial resources to support the business to meet its liabilities as and when they fall due during the going concern assessment period.”
The filing also suggested that any potential merger with the PGA Tour is on the back burner, at least in the short term. LIV “is not able to ascertain with certainty the substance, timing or implications of any transaction which may arise from” the 2023 framework agreement between the PIF and PGA Tour that was aimed at unifying the men’s professional game.
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