The new investor has yet to be named, but LIV Golf CEO Scott O'Neil confirmed the deal while the league later confirmed the news in a statement.
"LIV Golf has an agreement in place with a lead investor, signed by the investor and approved by the Board, to anchor the transaction and play a key role in supporting the path forward for the League's next era, driven by and for the players," the statement read.
"We're also seeing strong interest from more than a dozen additional parties to potentially serve as minority investors, creating a multi-partner model built for long-term stability and growth. Notably, our next chapter will make our players the majority equity holders in LIV Golf, a first for a major global sports league, and gives the League the foundation to keep growing the game worldwide.
"We anticipate finalizing terms in the coming weeks, with the goal of entering a transaction in September."
LIV Golf launched in 2022 with substantial financial backing from Saudi Arabia's Public Investment Fund (PIF). The funding allowed the league to offer massive signing bonuses to attract stars such as Brooks Koepka, Dustin Johnson, Bryson DeChambeau and Jon Rahm from the PGA Tour.
However, the financial picture changed earlier this year when the PIF announced it would stop funding LIV Golf after the 2026 season, leaving the future of the league in limbo.
The future of the tour could see 10 team events each year, with five in the United States and five elsewhere around the world.
The league also wants to stage events ahead of major championships and create a schedule that allows players to compete on other tours.
LIV Golf has officially cancelled its planned Team Championships event in Michigan, bringing an end to weeks of speculation over whether the season-ending tournament would go ahead.
LIV Golf has reportedly canceled its season-ending Michigan Team Championship, leaving uncertainty over how the league's team competition will be decided.
Cam Smith doesn't know how much longer LIV Golf will continue to function, but he's preparing as if the season-ending tournament will take place.
Sergio Garcia is confident LIV Golf will continue next season despite uncertainty surrounding the league's financial future following the Saudi Arabia Public Investment Fund's decision to end its funding.
