LIV tournament postponed in Louisiana, incentives to be repaid

(The Center Square) — Louisiana’s planned LIV Golf tournament in New Orleans has been postponed until at least the fall, after the state had already paid $3.2 million under its agreement with the Saudi-backed golf league and Louisiana Economic Development increased the deal by $500,000.The increase brought the total contract cost to $7.7 million.Gov. Jeff Landry and Louisiana Economic Development Secretary Susan Bourgeois announced the delay Tuesday, saying Bourgeois spoke Friday with LIV Golf CEO Scott O’Neil and was told it wants to postpone its June 2026 event while exploring a fall date.“The state has already paid $3.2 million in accordance with the contract,” Landry and Bourgeois said in a joint statement. “LIV is expected to return all state incentive funds, with the exception of the $2 million already invested in upgrades for City Park, ensuring those improvements remain in place for the community.”The tournament had been scheduled for June 22-28, 2026, at Bayou Oaks Golf Club at City Park in New Orleans. State contract documents show Louisiana’s agreement with LIV Golf Incorporated ran from July 1, 2025, through Dec. 30, 2026, and originally listed the total contract at $7.2 million. The documents describe the agreement as funding for “economic development” under the Major Events Incentive Program for expenses tied to course renovation, organizing and hosting the LIV Golf event.Before the postponement, LED increased the agreement with LIV by $500,000, though the reason for the increase was not immediately clear from the state’s public statement. The agreement also includes marketing and promotional components, including event advertising, broadcast assets, ticketing access and state promotional benefits.The contract documents also show the state’s payment structure included $1 million due after announcement of the event and $2.2 million tied to construction and renovation work at Bayou Oaks Golf Club’s South Course. Another $1.5 million was payable by Dec. 31, 2025, and a final $1.5 million was due after the event, subject to final documentation and reporting.Landry and Bourgeois framed the delay as a continuation of negotiations rather than a cancellation.“We appreciate LIV’s good-faith efforts and look forward to maintaining our partnership as we continue conversations around an event later this year,” they said. “We are grateful for the work of our local partners and the collaboration that supported this effort. Louisiana continues to move forward with strong momentum and we remain focused on opportunities that deliver value for our communities.”The announcement comes amid broader questions about LIV Golf’s finances and long-term business model.Golf Channel reported this month that LIV Golf CEO Scott O’Neil said the league is funded through 2026 but will need a sustainable business model beyond that. He has also said profitability could be five to 10 years away.Reports have suggested Saudi Arabia’s Public Investment Fund, which backs LIV, may scale back support after 2026, though league officials have disputed claims about its long-term viability.The postponement leaves uncertainty about whether Louisiana will host an event this fall. State officials say most funds already paid are expected to be returned, minus those used to improve City Park.