I'm at LIV’s season finale. Here's what we know — and what we don't

Sean Zak, a senior writer for GOLF.com, is on-site at LIV Golf's season-ending event in Indianapolis, sharing his observations and answering the questions that are on the minds of the golf world.

The Mood on the Ground and First Impressions

Upon arriving at the driving range for a practice session, Bryson DeChambeau spotted a trio of reporters, including Zak, and blurted out, “Oooh the mafia has arrived. The mafia. You guys love talking s–t.” While he was mostly joking, it’s clear DeChambeau remains very annoyed with how he’s been quoted and contextualized this summer, suggesting there’s more beneath the surface.

“This is my 10th career LIV tournament, and that oddly matters,” Zak notes. Some players and coaches mentioned aloud today how it’s interesting to them that mainstream golf media is showing up only now. More media are expected to arrive throughout the weekend.

However, Zak points out that this event feels smaller than others he’s attended, dating back to the first one in London in 2022. The fan village is smaller, and there’s no concert stage because the concerts have been canceled. While there are still hospitality suites and plenty of fans are expected to take in the action this weekend (Indy set a LIV domestic record with 60,000 attendees last year), this event will surely feel somewhat diminished. This might be exactly what LIV needs to do right now, scaling back from the over-spending that aimed to make LIV the biggest and brashest event possible, which is part of what has gotten them into this hole.

Player Meeting and Investor Involvement

A player meeting took place this afternoon, with nearly full attendance. Joaquin Niemann and Anthony Kim were among those who escaped early, but most players were present for the full 50 minutes. The most pressing piece of information was that LIV’s unnamed “lead investor” was on hand. This investor is understood to be Ted Goldthorpe, on behalf of BC Partners—a name that has been reported numerous times but never fully acknowledged by LIV.

Martin Kaymer and a few others mentioned how excited “the investor” was and how there was good, positive energy in the room, but no one would share any specifics. Brendan Steele offered the most insight, saying it wasn’t the first time he’d met “the investor” but that the meeting was important toward “getting the players to be comfortable with how we want to move forward.” Steele pledged his commitment to LIV 2.0, stating, “this is where I want to be and I’m committed to LIV 2.0 as far as we can take it.”

Financial Woes and Legal Battles

The league’s financing situation is precarious. The team finale originally scheduled for next week has been canceled and blended into this week’s event. The combined original purse was $70 million, now reduced to $40 million. Reports indicate that some players’ payouts from LIV UK have not arrived on their typical schedule, and lawsuits for missed vendor payments continue to pile up.

These developments strongly suggest LIV is barreling toward bankruptcy. While this cannot be officially reported, it’s an observable trend and has been discussed in the industry for months. LIV allegedly owes a lot of money to many people and is limiting its spending as much as possible. LIV CEO Greg Norman is expected to address these issues at his press conference on Wednesday afternoon.

Player Reactions and Shifting Dynamics

While some players have already signed up for next week’s DP World Tour event in the UK, others are making plans for Q-School. Ian Poulter has mentioned this could be the end. Players, it seems, are not particularly chatty with the media. Sam Horsfield, when asked how the meeting was, simply said, “It was good. It was good, that’s all I’m going to say.” Today featured a lot of similar responses: “Good” and “positive” before many of them hopped into courtesy cars. Perhaps tomorrow and the rest of the week will offer more.

Interestingly, there’s a reversal from LIV’s 2022 launch. Back then, CEO Greg Norman was essentially silenced, with players being pushed to the forefront to speak about the league. Now, the majority of players are completely silent, and the CEO is doing all the talking.

Jon Rahm Situation and Departure Rumors

Rumors about Jon Rahm leaving LIV continue to circulate. It is known that his contract extends beyond this year, and he plans to play a few DP World Tour events this fall. However, as Zak reminds us, tortious interference can lead to court. While the original lawsuits between the PGA Tour and LIV Golf involved the Tour accusing LIV of tortious interference, the inverse could now be true if anyone from the Tour were to convince Rahm to break his contract with LIV. Thus, in a hypothetical world where Rahm decides his LIV days are over, it’s likely still a few significant dominos away from happening.

Concert Cancellations and Cost-Cutting

The cancellation of concerts, including Thomas Rhett who will perform in nearby Evansville, is another sign of cost-cutting. LIV cited “unavoidable changes in the entertainment program,” which Zak interprets as a garbled way of saying they can’t afford to spend the money. Concerts have always been a core differentiator and success driver for LIV, blending sport and music festival. But since the Saudi PIF officially announced funding would only extend through the rest of 2026, such expenses have become unaffordable. Only three concerts have been held this summer, a significant decrease from previous years.

Expectations for Scott O’Neil’s Press Conference

At Scott O’Neil’s press conference, it’s expected he might officially name Ted Goldthorpe and BC Partners this time. Talks with BC Partners are not yet settled and are contingent on buy-in from a specific number of pros, particularly singular, very specific pros. O’Neil will likely state that talks are progressing and that the player meeting felt like an important step. In reality, O’Neil has a lot of work to do locking in commitments.

The LIV 2.0 Scenario: An Optimistic Outlook

From an optimistic perspective, LIV could spin this as appreciating the PIF’s support but now being a bird ready to fly on its own. LIV 2.0 is a real possibility, but it likely won’t resemble LIV 1.0. Purse sizes being discussed internally for next year are reportedly around 40% of what players have competed for in 2026. The best-case scenario might be Bryson DeChambeau signing another contract, perhaps for just one year, which could settle any qualms other players have and provide enough buy-in to make it work. However, that last part feels like a stretch, as many players’ contracts also end Sunday night.

Player Futures and the 'Drop Zone'

The usual season-ending subplot of player relegation has faded into the background. Names like Jason Kokrak, Danny Lee, Martin Kaymer, Michael La Sasso, and Sam Horsfield, who are in the ‘Drop Zone,’ have barely been mentioned. Zak suggests that LIV would take Kaymer back immediately if he were interested, and based on a brief chat, he sounds optimistic. The subplot Zak is most interested in is how many players will begin to properly look for paths elsewhere, using the DP World Tour and potential sponsor invites to build a schedule toward something different in 2027.

Does This Feel Like the End?

“Honestly? Yeah. The beginning of the end, at least,” Zak concludes. He believes the final end might not come for months, but he’s trying to be rational. Too much is mounting against the league right now. The lawsuits are serious and will likely push the league toward bankruptcy, at which point things could get weird. It feels like they are heading there.

He couches this by saying, “this entire conversation is about what we know and what we don’t know.” LIV won’t even name the investor that the entire sports world is becoming well aware of. So, how can anyone know what he’s cooking up? Zak is hearing a lot of things, but most of the LIV enterprise has gone silent. Perhaps the hail mary will work. Sometimes it does.

Zak mentioned stumbling through the merchandise center and finding some good items, hinting at the possibility of picking up some souvenirs.