The LIV Golf event in Louisiana scheduled for June has been postponed following discussions between league CEO Scott O'Neil and Susan Bourgeois from Louisiana Economic Development. This decision came less than two weeks after assurances by O'Neil that the league's season would remain "uninterrupted." The postponement reflects changes in LIV's business model due to Saudi Arabia's Public Investment Fund reconsidering its financial support.
An official announcement is expected on Tuesday, with hopes of reimagining the event for fall. Discussions are ongoing to finalize a new framework.
Louisiana had committed around $7 million, with $2 million already spent on improvements at Bayou Oaks, New Orleans. Under the deal's terms, LIV will return $1.2 million while the state considers the spent $2 million as a beneficial investment.
The league now seeks alternative funding, looking to sell equity in its teams. Meanwhile, the next LIV event is slated for May 7 in Virginia at Trump National Golf Club.