What was just a rumor a few days ago is now official news: the Public Investment Fund (PIF), the sovereign fund of Saudi Arabia, has confirmed that it will cease funding LIV Golf at the end of this year, the parallel circuit to the PGA Tour created in 2021. Concerns about the survival of LIV are inevitable, considering that the fund has invested over five billion dollars in this operation. The tournaments began in 2022, and at this point, there is a real possibility that the 2026 season will be the last.
LIV Golf had already announced the appointment of new board members, specifically tasked with securing funding, but then PIF executives clarified their position: “The fund has decided to finance LIV Golf only for the remainder of the 2026 season,” reads a statement. “The significant investment required in the long term is no longer in line with the fund’s current strategy phase. The decision was made in light of investment priorities and the current macroeconomic context.” The abrupt change of course has caught tour executives by surprise. As reported by the Guardian, Scott O’Neil – appointed CEO at the beginning of 2025 with the task of growing the business and securing external funds – now faces a completely new scenario. According to the English newspaper, the halt would have come directly from Saudi Crown Prince Mohammed bin Salman, also influenced by the impact of the war in Iran.
At the moment the statement was released, one of the key figures of the PIF, Yasir al-Rumayyan, was in the North-East of England to deal with Newcastle, which in turn belongs to the sovereign fund. Rumayyan, once a central figure in the LIV Golf project, no longer has an operational role in the circuit. Just last February, he assured, during a meeting with key players, that funding would be guaranteed at least until 2032.
A key question now remains: will Saudi Arabia abruptly abandon the LIV Golf project? Under O’Neil’s leadership, revenues have increased and top sponsors have been attracted. However, it seems that the most realistic scenario for the tour foresees a drastic reduction in the number of tournaments (currently 14) and prize pools much lower than the 30 million dollars currently at stake. It remains to be seen who might be interested in a more agile and budget-limited model.
Several big names in golf now find themselves in a phase of uncertainty. Three stars like Jon Rahm, Bryson DeChambeau, and Cameron Smith are bound by contracts with LIV Golf. The terms of these extremely lucrative agreements make public criticism unlikely, especially while the circuit is facing financial difficulties. Yet, some players are already considering, through their managers, possible returns to the PGA (provided they are welcomed back) and the terms for contract termination. Without figures like DeChambeau and Rahm, LIV Golf would struggle and will struggle to maintain visibility. The PGA Tour, in doubt, has already facilitated the return of Brooks Koepka and Patrick Reed, but now that the threat from the rival circuit seems diminished, it may adopt a tougher stance. It also remains to be seen how strong the desire is among players to return to the historic circuit.
As often happens in golf, nothing moves by chance. Even the increased prize pools of the PGA Tour, introduced in part to counter LIV, will now be lowered. LIV Golf has indeed profoundly altered the economic model of the sport. The DP World Tour has recently allowed players contracted with LIV Golf to participate in its tournaments, and it would not be surprising to see further evolution in this regard. However, complicating the picture is the strategic alliance with the PGA Tour, which keeps the two circuits as formal partners. The LIV Golf season will continue next week at a course owned by Donald Trump near Washington. Stops will follow in South Korea, Spain, and England, before concluding in the United States at the end of August. Provided the championship can be completed.