LIV Golf has launched its search for fresh investment in a race against time to save its future after official confirmation Saudi funding would cease at the end of the 2026 season.
Hours after LIV announced the creation of a new independent board minus Yasir al-Rumayyan, the governor of Saudi Arabia’s Public Investment Fund, a PIF statement formally substantiated the rumours that it was pulling the plug on the start-up after around $5bn (£3.7bn) of investment.
“PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season,” it said. “The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF’s investment strategy.
“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. LIV Golf has substantially grown the game globally through its transformational and positive impact. It has forever changed the game of golf for the better. PIF remains committed to deploying capital internationally in line with its investment strategy, including its substantial current and future investments in various sports as a priority sector.”
In a statement, without any mention of PIF, LIV had announced a “transition from a foundational launch phase to a diversified, multi-partner investment model” and a new independent board led by the seasoned business consultants Gene Davis and Jon Zinman.
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Davis said: “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, who include 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 to the PGA Tour under its returning member programme – for those who had won a major or the Players Championship since 2022.
