Saudi Arabia's Public Investment Fund (PIF) has confirmed it will cease funding LIV Golf at the end of the 2026 season, casting serious doubt on the breakaway circuit's future. The PIF has invested over $5bn in LIV since 2021, and the 2026 season may be its last.
In a statement, the PIF 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 decision is understood to have come directly from Crown Prince Mohammed bin Salman, partly influenced by the impact of the Iran war.
LIV had already appointed new board members, 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, and position the business for growth." However, the best-case scenario for LIV is seen as a significantly reduced schedule and prize funds, with doubts over who would be attracted to a "LIV lite" model.
Players such as Jon Rahm, Bryson DeChambeau, and Cameron Smith are contracted to LIV, but may seek paths back to other tours. The PGA Tour, having largely won the battle against LIV, is expected to drive a harder bargain for any returns. The enhanced prize funds established by the PGA Tour to counter LIV are now under scrutiny, as former Ryder Cup captain Paul McGinley noted: "Tours [are] now left with huge overheads, driven by LIV and then used as leverage against them."
