Mickelson and DeChambeau Sought $1 Billion Golf Funding
Phil Mickelson and Bryson DeChambeau originally approached Ari Emanuel to finance a rival league before PIF took over.
Updated on Oct. 11, 2026 in Golf
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In a 2021 bid to disrupt professional golf, Phil Mickelson and Bryson DeChambeau requested $1 billion from Endeavor CEO Ari Emanuel to launch a team-based league. Endeavor ultimately declined the proposal due to its existing business relationships with the PGA Tour, leading the pair to secure backing from Saudi Arabia's Public Investment Fund instead.
Why it matters
This failed solicitation highlights the early desperation to secure independent capital before PIF invested over $5 billion into the LIV Golf venture. The subsequent financial strain led PIF to announce that funding for the organization will cease after 2026.
LIV Golf currently holds $15 million in cash assets against liabilities estimated between $500 million and $1 billion. Creditor records show that Bryson DeChambeau is owed approximately $5.8 million by the organization.
The players
Phil Mickelson
He is a professional golfer who played a central role in the initial planning and solicitation of funds for the rival golf league.
Bryson DeChambeau
He is a professional golfer and LIV Golf participant who is currently listed as a creditor to the organization for $5.8 million.
Ari Emanuel
He is the CEO of the talent agency and media holding company Endeavor who rejected the initial $1 billion investment request.
PIF
The Saudi Arabian Public Investment Fund is the primary financier that invested over $5 billion into LIV Golf after other entities declined.
The details
While BC Partners recently offered $300 million to assist in a potential relaunch of the league, LIV Golf faces significant restructuring hurdles. The organization plans to pivot toward a model with fewer events and enhanced brand visibility as the PGA Tour prepares to introduce its own two-tier structure in 2028.
Timeline
LIV Golf launched with PIF backing in 2021.
The circuit staged its first event at Centurion Club in 2022.
Funding for the enterprise will officially end on April 30, 2026.
LIV Golf expects to attempt a new calendar in 2027.
The PGA Tour is scheduled to implement a two-tier structure in 2028.
Season Trajectory
The original proposal mirrored the English Premier League, aiming to transition golf into a team-based structure. This shift marks a departure from traditional tournament models, directly challenging the PGA Tour's upcoming 2028 two-tier promotion and relegation framework.
The cessation of PIF funding in 2026 creates significant uncertainty for the league's future event schedule and player contracts. With liabilities vastly outweighing cash reserves, creditors like Bryson DeChambeau face substantial risk regarding the recovery of their investments.
The takeaway
The pivot from a $1 billion startup request to a struggling entity with $500 million in liabilities serves as a case study in the difficulty of disrupting established sports circuits. Investors and fans should monitor the 2027 calendar attempts to see if the league can survive without its primary financial backer.
Further reading
For more background on the professional golf landscape, visit Golf.
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