LIV Golf is developing new business models to attract potential investors given the league's uncertain future without the financial backing of Saudi Arabia's Public Investment Fund.
"LIV Golf is firmly focused on securing a transaction that positions the organization for the long term," a LIV Golf spokesperson told ESPN's Mark Schlabach. "As we begin presenting our go-forward business plan to prospective capital partners, we are focused on achieving a sustainable future, and there are multiple pathways under active exploration."
The PIF announced in April that it will not fund LIV Golf beyond its current season. The fund reportedly invested over $5 billion in the breakaway circuit, helping LIV land former PGA TOUR stars like Jon Rahm and Bryson DeChambeau.
LIV has also started to lay the groundwork for a potential bankruptcy filing in the U.S. if its fundraising attempts aren't successful, sources told Bloomberg's Dinesh Nair, Giles Turner, and Reshmi Basu.
LIV Golf CEO Scott O'Neil is seeking $250 million to keep the league afloat in hopes it will be profitable within two years, reports Axios' Dan Primack.
Rahm and DeChambeau were offered paths back to the PGA TOUR earlier this year but chose to honor their respective LIV contracts. Rahm has multiple years remaining on his deal, while DeChambeau's agreement expires after this season.
LIV's next event runs May 28-31 in South Korea.
