LIV Golf, which has faced speculation over a financial crisis, is considering postponing its June event in New Orleans, Louisiana to the fall.
In a press release sent to The Associated Press on Wednesday (local time), LIV Golf said it had "made the decision to work with the state of Louisiana to move the tournament to a new date," adding that the move was intended "to avoid the extreme heat of midsummer and to avoid conflicts with the global sports calendar (the FIFA World Cup in North and Central America)."
LIV Golf added that it is "working to hold the tournament in the fall" and that it "expects to share a confirmed date in the near future."
The postponement announcement marks the first such move since reports emerged that Saudi Arabia's Public Investment Fund (PIF) is considering halting its funding of LIV Golf.
If the New Orleans event is postponed, LIV Golf will face an approximately two-month break between the Andalucia event in Spain, which opens on June 4, and the UK event on July 23.
The Louisiana state government also confirmed the postponement.
Reuters reported that "Louisiana agreed last August to pay LIV Golf $5 million and spend an additional $2.2 million on improvements to the tournament venue, Bayou Oaks Course."
However, with the tournament postponed, Louisiana Governor Jeff Landry told Reuters that "we will get back the $1 million already paid to LIV Golf."
LIV Golf has recently been thrust into a crisis over its very existence. An emergency was triggered by reports that PIF, which has poured about $5 billion (roughly 7.38 trillion won) into LIV Golf over four years, will no longer provide support.
LIV Golf CEO Scott O'Neil moved to contain the fallout, saying "this season will continue without interruption," but concerns over the financial crisis have not been easily dispelled.
