LIV Golf's scheduled June event in Louisiana has been postponed, according to multiple reports on Monday, as the Saudi-backed series seeks new investment.
The Athletic and WDSU television in New Orleans reported that the New Orleans tournament, a new event set for June 25-28 at City Park's Bayou Oaks, will not be played as planned.
LIV Golf chief executive officer Scott O'Neil and Susan Bourgeois, secretary of Louisiana economic development, spoke days after Saudi Arabia's Public Investment Fund (PIF) indicated it sought to drop financing for LIV, now in its fifth season, The Athletic reported.
Bourgeois and O'Neil spoke last Friday and agreed to postpone the tournament due to LIV's business model changes, with an official announcement expected on Tuesday.
The Louisiana tournament remained on LIV Golf's website schedule for June on Monday evening.
The Athletic reported the sides hoped to talk about a re-envisioned event this fall, although LIV's final event for the 2026 campaign is set for August.
WDSU reported the state of Louisiana would postpone the event until LIV could find other funding sources and restructure.
City Park, owned by the state of Louisiana, received $2 million in state funding for upgrades to host the event and the state also set aside $3 million as a hosting fee to lure the event with hopes for $70 million in economic impact for the area, the television station reported.
The state would be refunded $1 million already paid to LIV and provide no additional money, WDSU reported.
The Athletic said $1.2 million would be returned to the state with the renovation money treated as an acceptable improvement to a state asset.
The move raises concerns about what could be the final months for LIV as O'Neil seeks money after this year's potential PIF funding stoppage.
LIV arrived in 2022 and lured top PGA Tour talent with big contracts, Spain's Jon Rahm winning the past two season crowns.
But the series has struggled for global attention and some players, such as Brooks Koepka and Patrick Reed, have jumped back to the PGA Tour or are in the process of doing so.
LIV Golf's next scheduled event is at Trump National Golf Club in suburban Washington on May 7-10.
Other LIV stops are set for May in South Korea, June in Spain and July in England before the season closes with US stops in August at Trump National Bedminster in New Jersey, Indianapolis and the team championship in Michigan on August 27-30.