LIV Golf is singing the blues.
A planned tournament in New Orleans is expected to be postponed amid the financial turmoil the league has found itself in after reports that the Saudi Public Investment Fund was pulling its monetary commitments surfaced earlier this month, WDSU first reported on Monday.
LIV Golf Louisiana was supposed to take place at the end of June at Bayou Oaks in City Park, but the event is in danger of being postponed until the rebel golf league restructures its finances and gets additional funding.
A formal announcement is expected to be made on Tuesday regarding the postponement and The Athletic reported that the league and the state of Louisiana hope that they can come together to plan a “re-envisioned” version of the event for the fall.
City Park, a state entity, had received $2 million in state money to improve the course for the LIV Golf event and another $3 million was reported to be used as a hosting fee in order to get the golf league to come to The Big Easy.
The state will be repaid the $1 million it sent to LIV Golf before the event, and no additional money is going to go toward the scrubbed event, WDSU reported.
The decision to postpone the event in Louisiana came after Secretary of Louisiana Economic Development Susan Bourgeois touched base with LIV Golf CEO Scott O’Neil on Friday.
LIV Golf’s next tournament is slated to start May 7 in Washington, D.C., at Trump National Golf Club.
The league is also scheduled to visit the metropolitan area in early August for LIV Golf New York at Trump National Golf Club Bedminster.
It’s another tough break for LIV Golf, which has found itself in a tough spot with the PIF reportedly planning on potentially pulling its financial support of the golf league after this season.
It’s forced LIV to try to come up with other ways to finance itself after this year, with The Athletic reporting that the plan includes selling equity in its 13 teams.
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