LIV Golf has now gone several weeks without a tournament casting a cloud of uncertainty over its future. Fueling those concerns is a former PGA Tour winner according to whom the league has a lifeline of just another month! Such a collapse, he argued, would discernibly close the door on LIV players.

“Personally, no, I don’t think it survives. The only way that model works is by reducing purses,” Johnson Wagner said on the Scorecard podcast. “When these players signed with LIV, they signed up to play for $20-$25 million purses. I think there’d be an absolute revolt. I don’t know how many players have re-signed, but I know a lot of contracts are up this year, and I’m sure players are looking for a way out.”

In fact, he isn’t speaking out of the blue, turns out that he actually had a private chat with one of the players, which makes him so sure that August is when everything will crumble.

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“I spoke to a LIV player who lives in my hometown of Charlotte the other day, and he’s trying to make his way back to the PGA Tour. I think that tour is absolutely going to crumble in August. It’ll be done.”

The league has been mired in a funding crisis since April after its primary investor withdrew its financial backing. Since then, LIV has been searching for new investors while scaling back its plans. The schedule and the prize purse were the first to take a hit.

Moreover, amid the financial struggles, the league removed LIV Louisiana and LIV New Orleans from the schedule. It leaves only four events remaining in the season. With that background, Johnson Wagner brutally suggests the league will “crumble in August.”

That said, moving to the PGA Tour will not be easy for the players either. Any player weighing an exit now would return to a PGA Tour that is changing shape. Starting in 2028, the tour is rolling out a two-tier structure, the Championship Series and the Challenger Series. Any player returning won’t step straight back onto the top level. They’ll have to climb through the Challenger Series first and earn their way up. That cost is likely going to be higher than any legal or financial compensation.

Even so, Wagner believes staying with LIV Golf is an equally tough option. As the league fights to find investments, its most lucrative option, the prize purses, has taken a hit. Wagner predicts a serious backlash from the roster if it continues to fall.

Wagner’s speculation is not without merit. LIV Golf isn’t just short on investments; instead, it’s running on loans.

Last month, reports highlighted filings tied to the league’s UK entity showing it’s now on borrowed money. The lender is Saudi Arabia’s Public Investment Fund itself.

In simple terms, PIF confirmed it would fund LIV Golf only through the end of the season. According to the Financial Times, the league had received $333 million, and LIV needs roughly $100 million per month to operate. Rather than providing the remaining promised capital, PIF decided to extend it as a loan. That shift from equity funding to debt was a significant reason. No wonder players are looking for better options.

Furthermore, as Wagner pointed out, the situation is grave and way past repair. As previously reported, the league has been looking for external investors but has come away empty-handed. In a conversation with Bloomberg, CEO Scott O’Neil admitted that they are looking to raise $300 million with a combination of multiple private equity investors. However, that bargain has yet to come to fruition.

While LIV CEO Scott O’Neil has continued to remain in an optimistic bubble about the league’s future, the financial realities, however, hint towards a collapse sooner than expected. The questions surrounding if the league will survive remains a matter of speculation.