Saudi PIF to Fund LIV Golf Through 2026, Then Shift Strategy

Saudi Arabia’s Public Investment Fund pulled funding for LIV Golf on Thursday, stating it will support the league only through the end of the 2026 season. The PIF said the substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of its investment strategy.

LIV Golf staff and players were aware for the last two weeks that PIF would fund the league only through the end of 2026.

Yasir Al-Rumayyan, who co-founded LIV Golf and served as its chairman, is no longer listed in that role and has stepped down from the LIV Golf board. LIV Golf announced a strategic evolution on Thursday, including a newly established independent board led by Gene Davis of Pirinate Consulting Group and Jon Zinman of JZ Advisors, with Davis as chairman.

Davis stated: “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.

” PIF stated that LIV Golf has substantially grown the game globally through its transformational and positive impact and has forever changed the game of golf for the better. PIF also stated it remains committed to deploying capital internationally in line with its investment strategy, including its substantial current and future investments in various sports.

LIV Golf CEO Scott O’Neil told players this month that the 2026 season would continue as planned and uninterrupted.

3 billion since it began in 2022, according to the Money in Sports newsletter, with spending likely to exceed $6 billion by the end of 2026. LIV Golf overall investment surpassed $5 billion when $267 million was injected in 2026, per BBC News. 1 billion since it was established in 2021, according to BBC News.

LIV Golf spent about $1 billion in 2022 to lure players including Bryson DeChambeau, Phil Mickelson, Brooks Koepka, and Dustin Johnson from the PGA Tour. LIV Golf prize money was increased to $30 million at each event in 2026. LIV Golf expects 10 of its 13 teams to be profitable in 2026 and has five title sponsors of tournaments in 2026 after having none the previous three years.

LIV Golf is on course to earn $100 million more in 2026 than in 2025, according to BBC News sources. LIV Golf currently has 14 events. PIF revealed a new five-year investment strategy two weeks ago, geared toward sustained value creation with a strengthened focus on maximizing impact, raising the efficiency of investments, and applying the highest standards of governance, transparency, and institutional excellence.

PIF owns Premier League club Newcastle United and sold a 70% stake in Saudi Pro League club Al-Hilal earlier this month. The Saudi Arabia Snooker Masters was cancelled two years into a 10-year deal. Saudi Arabia is due to host the 2034 World Cup.

LIV Golf postponed its Louisiana tournament from late June until the fall and postponed its June event in New Orleans. LIV Golf will have no tournaments in the US between May 10 and August 6, 2026, when it is scheduled to go to Trump Bedminster in New Jersey. LIV tournaments are due to take place in South Korea, Spain, and Britain during the period between May 10 and August 6, 2026.

LIV Golf is scheduled to play May 7-10 in northern Virginia, with the LIV Golf Virginia event at Trump National Golf Club set to begin on May 7, 2026. Brooks Koepka left LIV Golf after the 2025 season. The PGA Tour granted Koepka a path back with stipulations including no access to equity grants for five years, a $5 million charity donation, and no bonus money in 2026.

Brooks Koepka paid fines worth about £63 million to return to the PGA Tour, per BBC News. The PGA Tour offered a return path to three other LIV players who won majors since 2022—Jon Rahm, Bryson DeChambeau, and Cameron Smith—with a February 4, 2026 deadline.

Rahm, DeChambeau, and Smith did not accept the PGA Tour return offer and turned down the PGA Tour reinstatement opportunity in February 2026.

PGA Tour CEO Brian Rolapp said in an interview earlier this week with The Wall Street Journal: “We’re interested in having the best players who can help our tour. ” Patrick Reed chose not to renew his LIV contract and is playing a European tour schedule.

Bryson DeChambeau said in an interview with the Flushing It social media site last week: “as long as LIV is here, I would figure out a way for it to make sense.

There’s a lot of moving parts like in any business. It’s a startup, right? And so there’s going to be times where we’re squeezed and punched. This is one of those moments. ” Jon Rahm said after the Mexico City event: “As of right now, my job is to help make the league work after this year.

I just feel like I have a responsibility. I've put a lot of effort into it. So that's what I'm going to do, we're going to make this work. ” Jon Rahm joined the LIV tour in 2023. Jon Rahm, Bryson DeChambeau, Phil Mickelson, and Cameron Smith compete on the LIV tour.

32 million with LIV Golf and has recorded only one top-10 finish at a major with LIV Golf, according to The Guardian. 5 billion into the PGA Tour in 2024. LIV Golf launched four years ago in 2022 and was established in 2021.

LIV Golf was launched by Yasir Al-Rumayyan and former CEO Greg Norman. Yasir Al-Rumayyan signed a framework agreement in June 2023 with the PGA Tour and European tour. Yasir Al-Rumayyan was at the White House in February 2025 to meet with President Donald Trump along with a PGA Tour team including Tiger Woods, Adam Scott, and Commissioner Jay Monahan.

LIV Golf took more than three years to get recognized by the Official World Golf Ranking. LIV Golf pivoted to a 72-hole format in 2026.