Saudi Arabia's Public Investment Fund (PIF) has confirmed it will cease funding LIV Golf at the end of the 2026 season, raising serious doubts about the breakaway circuit's future. The PIF has invested over $5 billion in LIV since 2021, and the decision marks a significant shift in strategy. A PIF statement said: '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.'
The move caught LIV executives off guard, coming shortly after Rory McIlroy's Masters win. The order to end involvement is understood to have come directly from Crown Prince Mohammed bin Salman, partly influenced by the Iran war. PIF governor Yasir al-Rumayyan, once closely involved with LIV, was in north-east England discussing Newcastle United as the statement was released. As recently as February, Rumayyan had told players funding was secure until at least 2032.
LIV has appointed new board members, including Gene Davis and Jon Zinman, tasked with raising finance. Davis said: 'The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalise its structure, attract and secure long-term capital.' CEO Scott O'Neil, hired in early 2025 to grow the business, has increased revenues and attracted sponsors, but the best-case scenario involves reduced tournament numbers and prize funds.
Top players like Jon Rahm, Bryson DeChambeau, and Cameron Smith are contracted to LIV, but many may seek paths back to other tours. The PGA Tour, having already allowed some returns, will likely drive a harder bargain. The financial distortion caused by LIV also pressures the PGA Tour's enhanced prize funds. DP World Tour may allow more LIV players, but its strategic alliance with the PGA Tour complicates matters.
