Saudi Arabia’s Public Investment Fund (PIF) will end its funding of the LIV Golf League after the 2026 season, forcing the league to restructure and look for new financial backers. The move marks a major shift for LIV Golf, which has relied on Saudi funding since its launch in 2022 to challenge the established PGA Tour with high prize purses and big-name players.
PIF confirmed Thursday that it will stop supporting LIV Golf after spending about $5 billion over five years. The fund said, “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 decision follows changes in Saudi Arabia’s investment priorities and ongoing economic challenges, including the effects of regional conflict and oil market disruptions.
In response, LIV Golf announced it has established a new independent board led by investment bankers Gene Davis and Jon Zinman. The new board is tasked with guiding the league through its transition to a “diversified, multi-partner investment model,” aiming to attract long-term capital from a broader set of investors. Davis said in a statement, “LIV Golf has built something truly differentiated—a global league with passionate fans, world-class talent, and demonstrated commercial momentum. 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 has reported an increase in revenue and claims ticket sales and sponsorships are up compared to last year. However, the loss of Saudi funding has led some players, including Brooks Koepka and Patrick Reed, to consider returning to the PGA Tour. Negotiations for their return have involved significant penalties and payments, highlighting the uncertainty facing the league.
The next scheduled event for LIV Golf is set for May 7 at Trump National Golf Club in Washington, DC. League officials say operations will continue as planned for now, and the league will continue talks with potential investors.
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