(Photo credit: Reinhold Matay-Imagn Images)

Scott O'Neil, newly on the job as LIV Golf's chief executive officer, is taking an optimistic view on his circuit's future.

The Public Investment Fund of Saudi Arabia, LIV's financial backer, is 'likely to make an investment in PGA Tour Enterprises,' O'Neil said Wednesday.

PGA Tour Enterprises is the for-profit wing of the PGA Tour, and it's at the heart of talks regarding a possible merger between the rival tours.

'For us at LIV, we are hoping that (a PIF link with PGA Tour Enterprises) unlocks opportunity,' O'Neil said in Adelaide, Australia, site of LIV Golf's event this weekend. 'That may unlock opportunity with markets, with courses, with marketing partners, with television networks, with growing the game, with competition opportunities, with new formats. ...

'I grew up in New York, if you haven't been able to tell so far by my funny accent, and the state motto is 'Excelsior,' which means kind of onwards and upwards effectively, and we're very excited about the potential investment with PIF and PGA Tour Enterprises.'

O'Neil, who replaced golf legend Greg Norman as LIV Golf's CEO this year, touted the work he has done so far.

'It's been a short 40 days here, but in the 40 days I've seen a U.S. agreement with FOX, broadcast agreement, I've seen a U.K. agreement with ITV to get us over the air in the UK,' he said. 'It's the only golf that'll be over the air in the U.K. I've seen our first pillar partnership with Madden. I've seen stars extended. I've seen a successful event in Riyadh. I've seen interest from all over the world. We're now broadcast in 100 countries and territories, over 800 million households.

'So I see momentum. You don't have to look too far from here to feel like we're going to have the largest event in the history of LIV Golf here, right here in Adelaide.'

O'Neil praised the work done by his predecessor.

'Greg is an icon,' O'Neil said. 'He is a friend. He is the reason I'm here today. I spent quite a bit of time with him in my 30-day lead-up to this role and every day since engaging, asking questions and learning, and I hope that he is part of LIV forever.

'We just had a board meeting last week. He sits on the board, which is another wonderful testament that we can tap into his experience, his leadership, his friendship, and any challenges, too, at the board meeting. I was hoping for a friendly (colleague) on the other side of the table, but he mixes it up pretty good.

'It's quite a gift to have him as part of LIV. I feel like he was the right person at the right time, and I hope I can stand on the shoulders of giants and move the league forward.'

--Field Level Media