​Scott O’Neil is probably the busiest man in the sports business industry right now.Since the Saudi Public Investment Fund announced in April that they would pull their funding for LIV at the end of the season, O’Neil has been seeking a rescue package.AdvertisementAdvertisementAdvertisementThe LIV Golf CEO has called in restructuring experts and a team of mergers and acquisition veterans. He is said to be seeking about $300m in capital to keep the lights on into 2027 and beyond.Increasingly, it looks as though that nine-figure sum will come from a patchwork of private equity firms, family offices and high net worth individuals, as opposed to a single investor.Photo by Ben Hsu/Icon Sportswire via Getty ImagesWhile O’Neil says LIV can be profitable in two years, a blended approach will spread the risk, though it will also make the equity picture more complicated.10 days out from the resumption of the LIV programme on the UK swing, here are some updates you might have missed.AdvertisementAdvertisementAdvertisementTwo English companies, World Golf Group and Premier Golf League, have filed a lawsuit against LIV, PIF and Golf Saudi among a number of other individuals at London’s Commercial Court.The claimants allege that LIV effectively stole the concept that they were already working on, saying shotgun starts, team franchises and the 54-hole format were lifted from a blueprint that they showed Saudi officials. They are seeking between $210m and $630m in damages.Needless to say, it’s a headache that LIV Golf could do without at this juncture.PIF appear to be sticking to their promise to fund LIV until the end of the season. But crucially, that funding is coming from loans, not equity.AdvertisementAdvertisementAdvertisementA debenture agreement filed in June shows new loans of an unspecified amount secured against LIV’s assets. If those loans are not released until LIV secures commitments from new investors, that could significantly complicate the would-be rescue package sought by O’Neil and co.Reports suggest that, on average, PIF were burning $100m per month on LIV Golf.That astonishing figure illustrates why reformatting the tour – with fewer events and far more modest purses – is essential to make it commercially viable for incoming investors.With new funds still not secured, LIV emailed its employees informing them of potential redundancy measures last week.Photo by Tasos Katopodis/Getty ImagesFor what it’s worth, LIV appears to be framing this as a precautionary measure as opposed to a formal plan to axe jobs at this stage.AdvertisementAdvertisementAdvertisementUnlike fellow LIV star Bryson DeChambeau, Jon Rahm appears to be a little cold on helping his employers with fresh investment. He has suggested that he would “stay in his lane” rather than providing fresh capital, as some players are reportedly open to doing.But asked ahead of the Scottish open whether his stance had changed, Rahm said “never say never” but that L