On Thursday, Saudi Arabia’s Public Investment Fund officially confirmed it will withdraw its financial backing from LIV Golf at the end of the 2026 season, throwing the future of the breakaway tour into serious doubt.
In a statement, the LIV Golf PIF confirmed the decision was driven by a shift in its own investment priorities. “The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF’s investment strategy,” a spokesperson said.
PIF co-founder and governor Yasir Al-Rumayyan, the most powerful figure in LIV Golf since its launch in 2021, has stepped down from the board. Neither PIF nor LIV’s own statement made any mention of a future role for him.
The overall LIV Golf PIF investment surpassed $5 billion when a fresh injection of $267 million was added earlier this year. Despite that, the tour’s net losses outside the US reached $462 million in 2024 alone, with overall losses since 2021 likely running into several billion dollars.
In response, LIV Golf announced a “strategic evolution,” appointing an independent board led by Gene Davis and Jon Zinman to seek new long-term financial partners. The tour described its 2026 performance as record-breaking and said ten of its 14 teams are on course to be profitable this year. Sources also indicated the series is “totally up for sale” and is in constructive talks with potential investors.
However, officials have accepted the tour will almost certainly have to be significantly scaled back, with far fewer than the current 14 events going forward.
This week LIV postponed its June event in New Orleans, meaning there will be no US tournaments between May 10 and August 6. The next scheduled event is LIV Golf Virginia at Trump National Golf Club on May 7.
The future of the tour’s star players also remains unclear. Jon Rahm, Bryson DeChambeau, Cameron Smith, and Phil Mickelson all compete on LIV. In February, DeChambeau, Rahm, and Smith declined a one-time opportunity to apply for reinstatement to the PGA Tour under its Returning Member Programme. Brooks Koepka was the only major winner to take up the offer, paying fines reported at around £63 million to smooth his return. Whether that pathway will reopen for others remains to be seen.
DeChambeau, speaking after the Mexico City event, remained defiant. “As long as LIV is here, I would figure out a way for it to make sense,” he said.
PIF’s withdrawal is seen by many as part of a broader strategic shift for Saudi Arabia, which is looking to diversify its economy. The fund recently sold a 70% stake in Saudi Pro League club Al-Hilal and continues to invest across football, boxing, Formula 1, and tennis, as well as hosting the 2034 World Cup.
