LIV Turns to Investment Bank With Sports Ties As PIF Exit Looms

LIV Golf is continuing its fight for survival by bringing in even more financial experts and advisors in the wake of losing its funding from the Public Investment Fund of Saudi Arabia. LIV announced Monday morning that it had retained U. S.

-based Ducera Partners as its investment banking advisor “to guide the league in its efforts to secure long-term investment partners and support its evolution into a diversified, multi-partner investment model. ” The league is seeking new investors as its sole backer, the PIF, prepares to exit following the 2026 season, which runs through August. The PIF’s total spend on LIV is expected to surpass $6 billion by the end of this year; the sovereign wealth fund provided the majority of capital for LIV’s operational budget and tournament prize money.

Ducera was founded in 2015 by longtime investment banker Michael Kramer, who has previously served as an advisor for some MLB and NHL franchise transactions, according to LIV’s announcement. Kramer is also the owner of the Western Hockey League’s Portland Winterhawks, which he purchased in 2021. Ducera says it has advised on more than $850 billion in transactions across industries, including media, entertainment, and sports.

The most recent sports deal Ducera worked on was serving as investment banker for Tom Dundon’s Pickleball Inc. , which last week received a $225 million investment and now serves as the parent company of both the Professional Pickleball Association and Major League Pickleball. Apollo Sports Capital led the funding, and Dundon also contributed.