LIV Golf has announced plans to secure new long-term financial partners and transition to a diversified investment model, following reports that Saudi Arabia’s Public Investment Fund (PIF) will withdraw its funding at the end of the 2026 season. The breakaway golf league, which has received over $5bn (£3.7bn) from the PIF since its launch in 2022, confirmed the move in a statement on Thursday.
The announcement, which made no mention of the PIF or former governor Yasir Al-Rumayyan, revealed a “strategic evolution” led by a newly established independent board. The league stated that its “conviction in the team golf model has never been stronger” despite the funding cut. Two new board members, Gene Davis and Jon Zinman, described as seasoned experts, will steer the league through its next phase.
News of the PIF’s withdrawal first emerged two weeks ago, with LIV Golf insisting it would remain at “full throttle” this season. However, an inaugural tournament in New Orleans scheduled for June has been postponed until later this year. The futures of star players, including major winners Bryson DeChambeau and Jon Rahm, now depend on attracting new investment.
The PIF had lured top players from the PGA Tour with lucrative bonuses and $30m prize funds per event, but the league faced criticism for sportswashing. Several stars, such as Brooks Koepka and Patrick Reed, have already left LIV Golf and sought to rejoin the PGA Tour. The league’s new board aims to formalise its structure and secure long-term capital for growth.
