Saudi Arabia to end LIV Golf funding, while league appoints new chairman | Golf News
Saudi Arabia to Cut Funding for LIV Golf League After 2026 Season
Published April 30, 2026
The Public Investment Fund (PIF) of Saudi Arabia has announced it will cease funding for the LIV Golf League following the conclusion of the 2026 season. This decision marks a significant shift for the league, which has relied heavily on Saudi financial backing since its inception nearly four years ago.
On Thursday, LIV Golf introduced a new board and business strategy aimed at continuing operations without Saudi support. The restructured board includes Gene Davis from the Pirinate Consulting Group and Jon Zinman of JZ Advisors, with Davis appointed as chair. Their primary goal is to secure long-term financial partners to sustain the league beyond 2026.
In a statement, the PIF confirmed: “PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season. The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF’s investment strategy.” The fund cited its investment priorities and the prevailing macroeconomic climate as key factors for its decision.
LIV Golf aims to transition to a model reliant on multiple investment partners and team franchises. The league expects that 10 of its 13 teams will achieve profitability this year. Davis expressed optimism about the future, stating, “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.”
LIV Golf’s current model has been buoyed by significant investment from the Saudi fund, reportedly spending $5.3 billion since its launch, with projections indicating that total expenditures could reach $6 billion by the end of this year. However, uncertainties loom regarding the retention of top players once their lucrative contracts expire. High-profile golfers such as Bryson DeChambeau, Brooks Koepka, Phil Mickelson, Cameron Smith, and Jon Rahm were attracted to LIV by intense financial incentives.
Scott O’Neil, CEO of LIV Golf, recently remarked on the need for the league to develop a sustainable business plan for ongoing operations. He stated, “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.”
The anticipated funding cuts were already known to LIV staff and players, prompting the league to actively seek alternative funding sources. LIV Golf currently offers prize funds of $30 million for each tournament.
Yasir Al-Rumayyan, the governor of PIF and instrumental in launching LIV Golf, is no longer listed as the league’s chair. His efforts included negotiating a framework agreement with the PGA Tour and European Tour, although this agreement ultimately did not materialize. The PGA Tour opted for a minority investment from a consortium of North American sports owners instead.
Amid these developments, LIV Golf has postponed its tournament scheduled for June 25-28 in Louisiana, rescheduling it for the autumn. The next event is set for May 7-10 in northern Virginia, with O’Neil assuring staff that the season will continue uninterrupted.
The future dynamics of the league remain uncertain, particularly concerning the allowances made for players previously affiliated with LIV Golf looking to return to the PGA Tour.
