Episode summary
LIV Golf Seeks New Investors, Brooks Running CEO Dan Sheridan | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · 38 min · Hosts: Carol Massar, Tim Stenovec · Guests: Randall Williams, Christina Stembel, Chris Rovzar, Dan Sheridan
Summary
LIV Golf is looking for new investors after Saudi Arabia’s Public Investment Fund said it will stop funding the league after the 2026 season. A guest sports-business reporter said LIV has spent about $5 billion over 3 to 5 years, and that the next phase depends on whether it can attract private equity or another sovereign wealth fund. He argued that LIV still has 95% Saudi ownership, but without ongoing funding it now has to prove it can survive on its own, especially after its hoped-for merger momentum with the PGA Tour faded.
The episode also featured Brooks Running CEO Dan Sheridan at Berkshire Hathaway’s annual meeting in Omaha. He said Brooks was up 23% globally in the first quarter, with China up 136%, Europe up 30%, and apparel up 34%. He argued that running remains resilient because it is an affordable sport, and that Brooks is still seeing consumer demand despite tariffs, war-related supply-chain pressure, and broader cost increases.
A guest also discussed the rise of concierge longevity medicine and “hot span” culture, arguing that more men are tracking biomarkers, sleep, and fitness in order to look and feel younger for longer.
Key takeaways
- A guest sports-business reporter said LIV Golf needs new capital after Saudi Arabia stopped ongoing funding after the 2026 season.
- He said LIV has already spent about $5 billion over 3 to 5 years, making profitability and outside investment the next hurdle.
- Dan Sheridan said Brooks Running grew 23% globally in the first quarter, with China up 136% and Europe up 30%.
- Sheridan said running remains durable in a weak economy because a pair of shoes is still relatively affordable at about $150.
- Sheridan said tariffs and war-related logistics are raising costs, but Brooks is trying to manage price increases carefully.
- The host and a guest said concierge medicine and peptide-focused longevity services are becoming a bigger business among middle-aged men.
Notable quotes
“Liv Golf is having legitimate conversations with investigates, but my sources won't tell me who those conversations are”
“I've had a lot of conversations and what my sources tell me is that Liv Golf is having legitimate conversations with investigates, but my sources won't tell me who those conversations are”
“listen spend spent $5 billion over the course of I want to say 3 to 5 years”
“We're up 23% as a company globally and it's a broad-based growth story”
“for $150, you can buy a pair of running shoes and and those will last you for some some people up to six months”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. This is Bloomberg Business Week Daily. Reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy. Plus, global business, finance, and tech news as it happens. The Bloomberg Business Week Daily podcast with Carol Masser and Tim Stenbec on Bloomberg Radio.
Some interesting stuff going on behind the scenes over at Live Golf. Do you know about this? — Yes. I think this is a super interesting development cuz when it first came out, everybody's like, "Oh my gosh." And the people that were lining up with it.
Not only was it oh my gosh, but it was oh my gosh, this this money is endless. — Seriously.
Okay, so the future of Lift Golf is in doubt. The Breakaway League hunting for new investors after Saudi Arabia ended its ongoing financial support for the lossmaking leave that brief brief briefly challenged the PGA Tours Supremacy. We've got a great voice on this.
Randall Williams is Bloomberg News US Sports Business reporter. He joins us from Miami. Randall, always good to have you on the program.
Always a treat to get to talk to you, especially when you're in Miami. Although I like it more when you're here with us. And maybe we could all go to Miami.
Where are you?
He's at the Miami House, right? — I'm in Miami. I'm sitting in a paddic and they keep turning up the music. I thought they were going to get quieter, but I'm happy to be here and happy to talk all things Love Golf.
You sound good, so don't worry about it. You sound good. — Okay, great. — Um, when when Liv when Liv golf first was announced a few years ago, I want to go back to this this idea that it seemed like this was funded by an unlimited pot of money and they were they were handing out these huge purses to to attract players.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- liv golf funding
- saudi public investment fund
- sports business strategy
- consumer retail trends
- succession and leadership
Companies and tickers mentioned
- LIV Golf
- Brooks Running
- Farmgirl Flowers
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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