LIV Golf has launched a search for fresh investment in a race against time to secure its future after official confirmation that Saudi funding will cease at the end of the 2026 season. The announcement came hours after LIV revealed the creation of a new independent board, excluding Yasir al-Rumayyan, the governor of Saudi Arabia's Public Investment Fund (PIF).
PIF Ends Investment After Five Years and $5bn
A statement from PIF formally substantiated rumours that it was pulling the plug on the start-up after investing approximately $5bn (£3.7bn). The fund stated: "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."
PIF cited its investment priorities and current macro dynamics as reasons for the decision. The LIV Golf Board has created a committee of independent directors to evaluate strategic alternatives for its future beyond PIF's funding horizon. Despite the funding halt, PIF noted that LIV Golf has "substantially grown the game globally through its transformational and positive impact" and "forever changed the game of golf for the better." PIF remains committed to deploying capital internationally, including in various sports.
LIV Announces New Independent Board in Funding Push
In a separate statement without any mention of PIF, LIV announced a "transition from a foundational launch phase to a diversified, multi-partner investment model" and a new independent board led by seasoned business consultants Gene Davis and Jon Zinman. Davis commented: "LIV Golf has built something truly differentiated – a global league with passionate fans, world-class talent, and demonstrated commercial momentum. The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalize its structure, attract and secure long-term capital, and position the business for growth while continuing to promote the game across the world. We look forward to positioning LIV Golf for future success."
LIV Golf held calls with team captains, including Bryson DeChambeau and Jon Rahm, on Wednesday prior to Thursday's announcement. Certain players are likely to explore the possibility of returning to the US-based PGA Tour, which has been shown to be possible with penalties. Brooks Koepka, for example, is understood to have paid fines of about £63m for reinstatement under the PGA Tour's returning member programme, which applies to those who have won a major or the Players Championship since 2022.
