LIV Golf’s future is in doubt as multiple reports say its financial backer, Saudi Arabia’s Public Investment Fund, mulls stopping funding for the golf circuit.
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Amid growing speculation that the league may be discontinued at the end of 2026, the Financial Times reported that PIF is weighing the prospect of no longer funding LIV, with an announcement coming as soon as today. Though the sovereign wealth fund’s estimated worth hovers near $US940 billion, the Iran War and Middle Eastern conflict has taken a toll on the fund, according to reports. Saudi Arabia was already retreating from promised investments before the war, strained by budget shortfalls and unrealistic designs. The US–Israeli conflict with Iran accelerated the reckoning. Iran’s closure of the Strait of Hormuz has cut Saudi oil exports nearly in half. The kingdom has shut down most of its offshore fields and this month halted one of the world’s largest petrochemical plants.
Additionally, on Wednesday, PIF announced its new strategy focusing on domestic programs rather than investing in global entities, as well as tightening its expenditures on projects that have not brought a return. PIF has injected more than $US5 billion into LIV Golf since the league launched in late 2021. However, the league has haemorrhaged billions and failed to gain investors for its teams. LIV chief executive Scott O’Neil said earlier this year that it could be another decade before LIV sees profitability.
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On Wednesday, the The Athletic reported that members of LIV’s leadership team were informed on Masters Sunday that they would soon lose their positions, while The Telegraph reported that LIV executives were brought to New York for an emergency meeting. Sources have told Golf Digest that LIV leadership is looking for alternative funding for the league but so far is coming up empty.
LIV Golf has an event this week in Mexico City. On Tuesday, press conferences were cancelled and the media centre closed for what was later described as a power outage. On Wednesday, the league held a press conference, where Sergio Garcia said players have not been informed of any developments. For the moment, it appears this week’s event will be played as scheduled.
“Honestly, you know how these rumours are,” Garcia said. “There are always a lot of them. And I can’t tell you anything more than what we already know.”
Earlier today, LIV chief executive Scott O’Neil sent an email to LIV staff (posted on X by ESPN reporter Jeff Darlington), stating that the league would continue operations for 2026.
“I want to be crystal clear: Our season continues exactly as planned, uninterrupted and at full throttle,” O’Neil wrote. “While the media landscape is often filled with speculation, our reality is defined by the work we do on the grass. We are heading into the heart of our 2026 schedule with the full energy of an organisation that is bigger, louder, and more influential than ever before.
“The life of a start-up movement is often defined by these moments of pressure. We signed up for this because we believe in disrupting the status quo. We have faced headwinds since the jump, and we’ve answered every time with resilience and grace. Now, we answer by doing what we do best: putting on the most compelling show in sports.”
LIV is coming off a particularly poor showing at the Masters. Tyrrell Hatton parlayed a strong Sunday into a T-3 finish, but Jon Rahm – who entered as one of the tournament favourites – again struggled on the major stage, while LIV marquee attraction Bryson DeChambeau missed the cut. Garcia also created a viral moment for an outburst where he damaged a teeing ground and broke his driver.
LIV Golf has not responded to a Golf Digest request for comment.
This is a developing story and will continue to be updated…
