Those who follow my posts know that I have been a supporter of LIV Golf since Day 1 (Spring, 2022).

Every PGA Tour golfer should be thankful to LIV Golf for introducing some much needed competition during the past five years. The stodgy PGA Tour’s tournament payouts have risen after LIV Golf began poaching several top golfers.

The remaining stars of the PGA Tour are now pocketing significant long-term benefits after a new incentive bonus system was instituted two years ago to retain top talent.

As of today, LIV Golf will need a major miracle to continue in 2027.

It is officially “Hail Mary” time for the fifth year golf league.

Reports continue to circulate this week that LIV Golf is canceling its $40 million season-ending tournament near Detroit, Michigan in two weeks. That would make next weekend’s (August 20-23) LIV Golf event near Indianapolis the final tournament of 2026.

It also might become the final event ever for LIV Golf.

LIV Golf CEO Scott O’Neil has the most difficult job in professional sports

How would you like to be in charge of an organization which just lost 100% of its funding, and your top performers are openly discussing jumping ship?

Chief Executive Officer Scott O’Neil took over the top role at LIV Golf after World Golf Hall-of-Famer Greg Norman left in early 2025.

O’Neil’s background included running Madison Square Garden Sports (basketball’s New York Knicks and hockey’s New York Rangers). He later became CEO for the NBA’s Philadelphia 76ers and the NHL New Jersey Devils.

O’Neil’s latest role at LIV Golf should be titled “Chief Magician” if this golf enterprise is going to survive into 2027.

The Saudi Public Investment Fund (PIF) has lost upwards of $6 billion after five years of bankrolling LIV Golf. They finally saw the light and are bailing out after LIV’s final event this month.

Scott O’Neil has been scrambling for months trying to find new financial backers. Those interested in LIV Golf will be investing in a sports league best known for hemorrhaging massive amounts of cash.

Good luck with that sales pitch!

Last week, Scott O’Neil said, “Notably, our next chapter will make our players the majority equity holders in LIV Golf…and gives the league the foundation to keep the game growing worldwide. We anticipate finalizing terms in the coming weeks.”

Let’s analyze that last statement a little closer

LIV Golf’s CEO is saying that he wants to make the golfers the MAJORITY equity holders in the organization going forward?

My Dad was not a big fan of televised golf.

Though one of his sons (me) fell in love with the sport at age 8, Dad often laughed as golfers agonized over their putts. He would say, “If those guys were out there playing for their own money, this might be a lot more interesting to watch!”

If LIV Golf tees it up again in 2027, my Dad (viewing golf from heaven since 2001) may get his wish with players having their own financial stake in the golf league.

The LIV Golf bonus babies may determine the future of their own league

LIV Golf was able to get off the ground five years ago only after the Saudi PIF generously opened their wallets to buy talent. More than $1 billion in bonus money was needed to sign a number of the top PGA golfers.

Remember Phil Mickelson? The six-time major champion was one of the first top golfers to switch to LIV Golf.

He received a reported $200 million signing bonus. Season One at LIV Golf featured the signings of Brooks Koepka ($130 million), Dustin Johnson ($125 million) and Bryson DeChambeau ($125 million).

The other fifty LIV Golfers (the league features 54 players) received varying amounts in signing bonuses, too.

Former major champions such as Patrick Reed ($100 million), Louis Oosthuizen ($50 million) and Sergio Garcia ($40 million) came aboard in 2022 to help get LIV up and running (while assuring their own long-term financial futures).

Australia’s Cam Smith ($140 million) was added to begin the 2023 season. Spain’s Jon Rahm ($300 million) followed in Year #3 and became the highest paid golfer in the LIV Golf portfolio.

Those nine LIV Golf signees I have mentioned required an outlay of more than $1.2 billion.

Let’s say that the remaining 45 LIV golfers were signed for a “paltry” total of $300 million. That would have brought 2022’s total initial investment (before one hole of golf was even played) to more than $1.5 billion.

Each golfer’s LIV contract agreement is confidential. My best guess would be most LIV golfers received a portion of their signing bonus up front (perhaps 25% or more) with the remainder being paid annually over the term of their agreement.

By the way, Jon Rahm’s $300 million agreement apparently covered six years (2024-2029 golf seasons). He is now halfway through his contractual commitment.

SOS – There’s an iceberg dead ahead for the S.S. LIV Golf

The biggest problem with LIV Golf (in addition to their lousy TV contract with FOX Sports) is that the tournament payouts greatly exceed the revenues generated. The cost of tournaments and operations has been unsustainable from Day 1.

Some reports estimate LIV Golf has lost upwards of $1 billion annually (excluding the money spent on those signing bonuses).

What is likely to happen to each of the highest paid LIV golf stars in 2027?

(Note – All signing bonuses and contract terms mentioned here are my own best guesses after reviewing a number of online resources).

Jon Rahm ($300 mm) – The most expensive golfer for LIV Golf appears ready to walk the plank and take a financial write-off soon. Rahm is just 31 years of age. He has at least a decade of top level golf still ahead of him.

Rahm is under contract with LIV Golf for another three years. If LIV Golf should survive into 2027, they must pay Rahm the fourth year portion of his contract/signing bonus. Should LIV Golf file for bankruptcy at some point, Rahm would be fortunate to receive a dime once the Saudi’s bail out later this month.

My best guesses?

I predict that Jon Rahm will voluntarily walk away from LIV Golf soon. He would keep whatever bonus money he has already been paid by LIV Golf. Rahm would also forfeit the remainder of his contract and join the DP World Tour (formerly the European Tour) beginning in early 2027. The talented Jon Rahm will eventually make his way back to the PGA Tour.

Phil Mickelson ($200 mm) – Lefty’s signing bonus/contract with LIV Golf was rumored to be for a four year period. That means that Mickelson had received 100% of his signing bonus money after the 2025 LIV season ended.

Phil is now 56 years of age. He was a non-factor in the majority of LIV Golf events since the league’s initial season in 2022.

Mickelson has been dealing with family-related issues in 2026 and did not participate in any LIV Golf events this year. There are a lot of rumors flying about Phil’s family situation. Regardless, Phil Mickelson’s competitive playing days appear to be over.

Cameron Smith ($140 mm) – The 32-year old Australian golfer won the 2022 Open Championship.

He was the #2 ranked player in the world at the time he signed with LIV Golf prior to the 2023 season. Cam Smith is captain of the popular LIV Golf Australian team called the Rippers.

Smith likely has one or more years remaining on his LIV Golf contract. I expect him (and his Aussie team) to stick together in 2027 should the league somehow survive. If LIV Golf goes under, Smith (like many non-US golfers in the league) may attempt to enter the DP World Tour in 2027.

Brooks Koepka ($130 mm) – Koepka quietly negotiated an exit deal from his LIV Golf agreement at the end of the 2025 season. After meeting conditions set by the PGA Tour, Brooks Koepka rejoined the traditional golf tour this year. He is ranked #82 on the PGA’s money list this year with earnings of $1.7 million.

Dustin Johnson ($125 mm) – Surprisingly, DJ signed a contract extension to remain with LIV Golf through the 2029 golf season.

Johnson is captain of the successful 4Aces golf team and seems to enjoy his role within LIV Golf.

Bryson DeChambeau ($125 mm) – Unlike Dustin Johnson, DeChambeau rejected a contract extension request by LIV Golf after the 2025 season. His initial agreement will expire at the end of the 2026 season (less than two weeks from now).

The 32-year old DeChambeau has been the most vocal supporter of LIV Golf since the league began.

He might be negotiating to become part of the new ownership team if the league survives into 2027. Bryson DeChambeau has nearly three million subscribers to his popular YouTube channel. He is already one of the world’s most popular golfers. DeChambeau will be fine.

Patrick Reed ($100 mm) – Like Brooks Koepka, Patrick Reed pulled the plug on LIV Golf once his contract ended at the end of 2025. He then reapplied for entry to the PGA Tour and, after meeting the Tour’s requirements, will become eligible to play again during September’s fall schedule.

All the remaining LIV Golfers – Most of the initial group of LIV Golf signees will have collected their entire bonus by the end of August, 2026. Others who were added since Year #1 (2022 season) will likely remain with LIV Golf – should the league continue in 2027.

Summary

Keep your eye on any news involving Jon Rahm and LIV Golf.

If Rahm decides to walk away soon (and I think he will), the future of LIV Golf becomes even more doubtful. Fewer top stars will mean that LIV Golf’s tournament payouts will take an even bigger cut in 2027.

The iceberg is in full view for LIV Golf.

It’s time to brace for impact!

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