Saudi Arabia’s PIF confirms LIV Golf funding to stop after 2026 season
Saudi Arabia is to end its financial backing of LIV Golf after the 2026 season.
The country’s Public Investment Fund, which has ploughed more than 5billion US dollars (£3.7bn) into the breakaway circuit, announced its decision to step away on Thursday.
A PIF spokesperson said: “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.
“This decision has been made in light of PIF’s investment priorities and current macro dynamics.
“PIF remains committed to deploying capital internationally in line with its investment strategy, including its substantial current and future investments in various sports as a priority sector.”
Despite the uncertainty over its viability, LIV issued an optimistic update about its future, confirming it intends to continue under a different governance structure and funding model.
Without reference to PIF, its statement read: “LIV Golf, the global golf league blending world-class competition with entertainment and culture to grow the game worldwide, today announced new board appointments as the league focuses on securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model.
There was no mention of a future role for Yasir Al-Rumayyan, governor of PIF and co-founder of LIV project, in either statement.
The developments follow weeks of uncertainty around LIV’s future. The league this week postponed its June event in New Orleans, adding to speculation over its long-term stability, although April’s tournament in Mexico went ahead as scheduled.
Since its launch in 2022, LIV has positioned itself as an alternative to the established tours, introducing team formats, shotgun starts and huge prize funds to attract leading players including Jon Rahm, Bryson DeChambeau, Brooks Koepka and Cameron Smith.
A shift to 72-hole events has been welcomed but concerns over quality of the competition and player retention also persist. Koepka and Patrick Reed have left this year to seek a return to the PGA Tour.
PIF’s withdrawal could signal a shift in strategy for Saudi Arabia as it seeks to diversify its economy.
The fund currently owns Newcastle United, has spent large sums on the Saudi Pro League and backed big events in boxing and Formula One, among other sports.