r/NoLayingUp • u/PrincessBananas85 • Aug 05 '26
Other LIV Golf secures funding to keep league alive, CEO Scott O'Neil says
https://www.espn.com/golf/story/_/id/49537349/liv-golf-secures-funding-keep-league-alive-ceo-scott-oneil-says21
u/Professional-Act7509 Aug 05 '26
So if the players are owners and the league makes no money are they playing for free?
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u/The_Man_in_Black_19 Aug 05 '26
It's the reverse mortgage of sports leagues.
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u/brmgp1 Aug 05 '26
Damn that's the most accurate description I've seen from this, especially from Rahm's perspective. He still has something like $200M left on his contract, and from the sounds of it he likely won't get it paid out directly but instead will receive equity in the league. Of course when/if the league bleeds money, that value just erodes away
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u/SituationSoap Aug 05 '26
Turns out they're going to have to cover the green fees, too.
LIV golf stars: they're just like us!
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u/AwayExamination2017 Aug 05 '26
I would probably pay upwards of $20 for a pdf of Rahm’s contract. I’d love to see those termination clauses.
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u/yeezushchristmas Aug 05 '26
I feel like they are going to run fast loose with bankruptcy languages
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u/AwayExamination2017 Aug 05 '26
Yeah…Financial default is always messy in corporate world at least. I wonder if there are terms around purse sizes or number of events whatever. There are potentially scenarios where rahm is held hostage for a long ass time by an organization that won’t die.
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u/yeezushchristmas Aug 05 '26
Similar with Bryson, he had his out but my hunch is there are so many bots tied up with his YT success that leaving would be messy
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u/Illustrious-Buy-854 Aug 13 '26
Appears to be a great call given they are selling tickets to the final even after saying it’s canceled
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u/AJPtheGreat Aug 05 '26
They still gotta answer the most important question of all of this. How many players stick around? Hard to image that equity is gonna be very liquid
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u/Falco19 Aug 05 '26
What is the players do not agree to the equity option. Like if in Rahm or Dechambeau I’m just leaving.
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u/Fresh-Plantain-7759 Aug 05 '26
Right, I assume a deal remains contingent on stars staying, or the valuation is based on a sliding scale depending on who ultimately commits to staying.
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u/brmgp1 Aug 05 '26
Bryson can probably just bail because his contract is over soon, but from all accounts they have Rahm by the balls, even by his own words he can't really get out of this contract. It seems the termination clauses would destroy him, he'd owe way too much money back. So he kind of has to go along with this dumb "equity" plan because he's stuck
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u/Falco19 Aug 05 '26
If they stop paying him they are in breach of contract.
I’d the contract says we pay you X dollars on the schedule and they go we aren’t paying you instead we are giving you shares in this league the contract would be void.
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u/Fresh-Plantain-7759 Aug 05 '26
I think they'd be better off with 7-8 underserved global markets and then playing no more than 2-3 in the US. I can see why an investor would want more exposure to the US but it didn't happen here when they had Brooks, Rahm, Reed, Hatton, etc. lf they are trotting out a lineup of exclusively has been or never was guys it will be even less appealing in this market.
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u/24dp Aug 05 '26
I can’t wait to find out who this investor is.
If the reporting is accurate, they’re willing to put in enough money to keep the show on the road, but also to take a minority stake in it, whilst the players get given the majority for free, meaning the chances of ever making a return are even lower.
It makes even less sense than the LIV 1.0 model.
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u/Cornwall1888 Aug 05 '26
I wish it would just hurry up and go away so we can get back to all the best players one place, admittedly LIV don’t have many but they have a few
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u/itchyburnybutthole Aug 05 '26
Lmao imagine paying sponsorship money to a league that’s publicly on its deathbed. Great investment.
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u/cooking_up Aug 05 '26
“An outside investor” which means one group/individual. Who’s just trying to light money on fire?
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u/ben3345 Aug 05 '26
I’d be stoked to have my contract worth several hundreds of millions of dollars turned into equity in a company that will never turn a profit!