▲ LIV Golf CEO Scott O'Neil
LIV Golf, which is facing a survival crisis due to severe financial difficulties, is reportedly set to give up hosting its season-ending tournament.
Golf media outlet Flushing It Golf reported that LIV Golf is scheduled to officially announce on the 30th the cancellation of the season-ending Team Championship Michigan tournament, which had been planned to be held next month.
LIV Golf did not respond to inquiries regarding related reports by the golf specialized media outlet Golfweek.
Reuters reported that "uncertainty surrounding LIV Golf is expected to grow further due to a series of tournament cancellations."
The Michigan tournament is the grand finale of the season, a team event where 13 teams compete for the championship.
Last year's tournament offered a total prize purse of $50 million (approx. 72.8 billion KRW), which was larger than the Tour Championship ($40 million), the season finale of the PGA Tour playoffs.
This year's tournament was scheduled to take place from the 28th to the 31st of next month at The Inn at St. John's resort in Plymouth, Michigan, USA.
However, LIV Golf has suffered from severe financial trouble as Saudi Arabia's Public Investment Fund (PIF), which invested more than $5 billion (7.3 trillion KRW) over the past four years, suspended its financial support, and is reportedly leaning toward giving up hosting this event.
This is not the first time LIV Golf has canceled a tournament.
The New Orleans tournament, which was scheduled to be held last month, also failed to take place.
If the Michigan tournament is also called off, only two events will remain on this year's schedule.
Only the New York tournament, set to be held from August 7 to 10 at Trump National Golf Club Bedminster in New Jersey, USA, and the Indianapolis tournament, scheduled from August 21 to 24 at The Club at Chatham Hills in Westfield, Indiana, USA, are expected to be held.
Players appear to be accepting the possibility of the season finale's cancellation as a fait accompli.
Martin Kaymer of Germany said at a recently held tournament in the UK, "I see a 5% chance that the season finale will happen."
LIV Golf's severe operational difficulties are being detected across various areas.
Recently, the tour became embroiled in a $1 million lawsuit filed by a broadcasting technology vendor over unpaid fees, and on the 22nd, the Asian Tour, which sanctions professional golf tournaments in the region, announced that it would sever ties with LIV Golf.
(Photo: AP, Yonhap News)
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