Saudi Arabia’s Public Investment Fund confirmed Thursday that it will end its financial backing of LIV Golf, leaving the upstart league to find a new financial path forward.
“PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season,” the sovereign wealth fund’s statement said in part. “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.”
Earlier Thursday, LIV Golf announced that it is focusing “on securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model.”
While LIV CEO Scott O’Neil has remained adamant the league will continue beyond this year, the confirmation of earlier reports that the PIF will end its involvement along with new reports that PIF governor Yasir Al-Rumayyan, who spearheaded the game-altering concept, is stepping down as LIV’s board chairman raises serious questions about the league’s long-term viability.
The PIF pullback, after reportedly investing approximately $6 billion, leaves LIV, which has already lost stars Brooks Koepka and Patrick Reed this year, scrambling to rework its business model as speculation mounts about its future and the potential paths for Jon Rahm and Bryson DeChambeau, among other players.
In announcing what it called a “strategic evolution,” LIV has established an independent board led by Gene Davis and Jon Zinman. Davis is chairman and CEO of PIRINATE Consulting Group, which specializes in, among other things, “turnaround management, merger and acquisition consulting” while Zinman is the founder and managing member of JZ Advisors LLC, a strategic advisory firm.
The league, according to its statement, is intent on keeping its team-first format and cited a 100 percent increase in revenue year over year, having added more than $100 million in new revenue this year. It has also announced four tournaments booked for 2027.
The question of what happens with Rahm and DeChambeau may be the central point for golf fans. DeChambeau’s contract expires at the end of this season and he has reportedly asked for another nine-figure deal to remain with LIV, which seems far-fetched at this point.
Adding to the uncertainty surrounding LIV, the organization announced it has postponed a tournament scheduled to be played in New Orleans in June, citing a number of factors for the decision.
DeChambeau has also reportedly considered focusing on his social-media golf, which has proven to be lucrative, while playing the major championships. He turned down the PGA Tour’s Returning Member Program offered earlier this year and, having put his name on a lawsuit suing the tour in 2022, his potential path back to the tour could be complicated.
“There’s a lot of moving parts like in any business. It’s a startup, right? So there’s going to be times where we’re squeezed and punched. This is one of those moments. But I’m going to do everything in my power to make [LIV] work and I really see value in franchise golf,” DeChambeau told Flushing It Golf recently.
Rahm has one more year remaining on his LIV contract and has been engaged in a battle with the DP World Tour over his status there which threatens his eligibility for the 2027 Ryder Cup. The PGA Tour suspended Rahm in December 2023 after his surprise announcement that he was joining LIV.
Adding to the uncertainty surrounding LIV, the organization announced it has postponed a tournament scheduled to be played in New Orleans in June, citing a number of factors for the decision. LIV has said it intends to play the event in the fall but no date is set.
Its next event will be played in the Washington, D.C., area next week.
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