LIV Golf is set to lose its backing from Saudi Arabia's Public Investment Fund (PIF), with the plug set to be pulled from its funding at the end of the current season. The breakaway league is expected to tell players and staff on Thursday of the news, according to the Wall Street Journal.
Uncertain Future for Players
The likes of Bryson DeChambeau will see their future plunged into doubt, having signed megamoney deals to depart the PGA Tour. Earlier this month, LIV Golf CEO Scott O'Neil pledged the organisation would be working 'like crazy' to survive beyond the current season.
His remarks came just months after admitting that LIV would not turn a profit for another five to 10 years, and amidst speculation that the league was about to collapse. Scott told TNT Sports in Mexico: "The reality is that you're funded through the season, and then you work like crazy as a business to create a business and a business plan to keep us going. But that's not different from any other private equity-funded business in the history of mankind."
Implications for the Golf World
LIV Golf entered the sporting world as a breakaway from the PGA Tour, backed by substantial PIF funding. The potential loss of this funding raises questions about the league's sustainability and the future of its high-profile players. The announcement is expected to send shockwaves through the golf community, as players and staff await official confirmation.
