Jon Rahm keeping his focus on golf more than LIV’s future

Spanish golfer Jon Rahm maintained his focus to secure a one-shot lead at LIV Golf Mexico on Friday, even as questions swirled about the future of the controversial golf league amid mixed messages from its CEO.

Rahm, who struggled at the recent Masters tournament, followed up his opening round 65 with a solid 4-under 67 at Chapultepec Golf Club in Mexico City. His composed performance gave him a slim advantage over a trio of challengers – Matthew Wolff, Tom McKibbin, and Harold Varner III – who all sit one stroke behind.

“It takes a lot to win, and you also need a little bit of luck,” Rahm said after his round. “I’m clearly playing good enough, I just need to take advantage of the opportunities I’ve been giving myself.”

While players battled on the course, LIV Golf’s financial future dominated discussions off it. Speculation intensified Wednesday about the potential withdrawal of funding from LIV’s primary backer, Saudi Arabia’s sovereign wealth fund. The Saudi Public Investment Fund (PIF) has already invested heavily in the breakaway league since its controversial launch in 2022.

LIV Golf CEO Scott O’Neil attempted to quell concerns with a staff memo asserting that the 2026 season would continue “full throttle” without interruption. However, an interview O’Neil gave to UK broadcaster TNT Sports raised new questions when he compared LIV’s financial model to other private equity ventures.

“The reality is that you’re funded through the season, and then you work like crazy as a business to create a business and a business plan to keep us going,” O’Neil said in the interview, which was later removed from TNT’s social media accounts and replaced with a different version.

The rapid removal and replacement of the interview sparked further speculation about possible financial instability within the organization. Critics noted the apparent discrepancy between O’Neil’s TNT comments and more optimistic statements he made to LIV’s own broadcast team.

In the LIV broadcast interview, O’Neil projected confidence, citing increased ticket sales and team sponsorships. He claimed that 10 of LIV’s 13 teams and four of its 14 events would turn a profit this year. “Given the momentum of this business, we’re really excited about where we are and the position where we are,” he stated.

O’Neil further suggested significant investor interest, saying: “This notion of bringing teams to market, I had two calls this morning. This notion of, ‘Do you have to raise money?’ Probably this is business. But if we keep the trajectory going the way we are and the revenue growth going, this is going to be a really good business for a really long time.”

The financial realities, however, remain stark. LIV Golf operates with enormous costs, including $30 million prize purses for each tournament and substantial operational expenses. According to a February report from Money in Sport, LIV has already spent approximately $5.3 billion and is projected to exceed $6 billion in expenditures by the end of 2024.

These financial questions come at a pivotal time for professional golf. LIV’s emergence has fractured the professional game, luring top players like Rahm, Brooks Koepka, and Dustin Johnson away from the PGA Tour with guaranteed contracts reportedly worth hundreds of millions of dollars. Negotiations between the PGA Tour and the PIF about a potential partnership have stretched on for months without resolution.

Meanwhile, players like Rahm continue to focus on their performance rather than boardroom drama. As the tournament in Mexico City continues, the Spanish star will aim to convert his 36-hole lead into a victory while executives address the mounting questions about LIV Golf’s long-term sustainability in an increasingly divided golf landscape.