The Public Investment Fund (PIF) has announced that it will only fund LIV Golf for the remainder of the 2026 season before withdrawing its investment from the controversial golf tour. The PIF, Saudi Arabia's sovereign wealth fund, has financed LIV Golf since its inception four years ago, but on Thursday confirmed weeks of speculation that it would cease funding at the end of the current season.
Independent board appointed
LIV Golf earlier released a statement confirming the appointment of an independent board led by investment bankers Gene Davis and Jon Zinman, who will seek new investors for the tour's future. PIF governor Yasir Al-Rumayyan has also stepped down as LIV Golf's chairman.
The PIF statement reads: "PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season. The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy."
It added: "This decision has been made in light of PIF's investment priorities and current macro dynamics. The LIV Golf Board has created a committee of independent directors to evaluate strategic alternatives for its future beyond PIF's funding horizon."
Impact on players and staff
LIV Golf informed players and staff on Thursday that PIF would withdraw its funding, and the futures of star players such as major winners Bryson DeChambeau and Jon Rahm would depend on securing new investment. Approximately $5 billion has been spent by the PIF to make LIV Golf a success, with large prize money pots and nine-figure bonus fees offered to lure top players away from the PGA Tour.
The league was run by Al-Rumayyan and two-time major winner Greg Norman, who served as CEO until his departure in 2025, with Scott O'Neil replacing him. The PIF remains committed to deploying capital internationally in line with its investment strategy, including substantial current and future investments in various sports as a priority sector.
