LIV Golf has retained Ducera Partners LLC as its investment banking advisor to guide the league in its efforts to secure long-term investment partners and support its transition into a multi-partner investment model. This follows LIV’s recently announced appointment of independent directors Gene Davis and Jon Zinman. The league will continue to work with its BOD, Ducera and others to identify long-term investment partners and evaluate other opportunities (LIV Golf).
LIV also has hired consulting firm AlixPartners to “help draw up a fresh business plan aimed at securing external investment.” Insiders said that AlixPartners’ engagement by LIV was “likely to be interpreted as a move to draw up contingency plans for a winding-down or insolvency process at the end of the year if new investors cannot be identified in the coming months.” A source said that the firm’s involvement was about devising “a well-developed, credible financial plan to potential investors,” while acknowledging that the company’s board would “evaluate all options for LIV” (SKYSPORTS.com, 5/2).