I think it’s fair to say 2026 has been a year of twists and turns for LIV Golf. Against the backdrop of the breakaway tour losing more than $1.1 billion since its establishment in 2021 and viewership numbers reaching only 300,000 on Fox Sports compared to around 2 million for typical PGA TOUR events, Saudi Arabia’s Public Investment Fund (PIF) confirmed in April that it would withdraw its support from next season, leaving LIV Golf facing a major funding crisis.
With questions mounting over the future of LIV Golf and some of the league’s biggest stars, the 2026 season continued in defiant fashion, with most of the events still going ahead and two-time major champion Jon Rahm ultimately clinching the league’s individual title for the third consecutive season and Legion XIII earning their second consecutive team championship title.
But with speculation over whether LIV Golf had reached its final round, LIV Golf CEO Scott O’Neil announced in August that a lead investor had “signed a term sheet approved by our board” that will support the league beyond 2026, meaning the circuit is set to stay alive, for now.
Details of the deal remain thin and several questions are still unanswered, but it represents a crucial step forward for LIV Golf after a tumultuous 2026 for O’Neil and the league.
Early Setback
The year started with movement, with LIV Golf already on the back foot. The league saw two of its recognized players, Brooks Koepka and Patrick Reed, leave and make their way back to the PGA TOUR, both in different manners.
Five-time major winner Koepka, who had been playing on LIV Golf for more than three years and was one of the first major names to be lured away from the PGA TOUR in 2022, made his return via the Returning Members Program introduced by the PGA TOUR. The program opened the door for a certain number of “elite performers” to rejoin the circuit.
In a statement, Koepka revealed that “being closer to home and spending more time with family” was a key factor in his decision, while also expressing his belief “in where the PGA TOUR is headed with new leadership, new investors and an equity program.”
Patrick Reed quickly followed in Koepka’s footsteps. Not eligible for the Returning Members Program, Reed was unable to make his comeback appearance on the PGA TOUR until August. Explaining his decision, Reed said: “I’m a traditionalist at heart, and I was born to play on the PGA TOUR.”
PIF’s Bombshell Announcement
A few months into 2026, rumors began to intensify regarding the future of LIV Golf. The touchpaper was seemingly first lit in April when The Financial Times claimed that PIF was “on the verge of cutting its support for LIV Golf.” This followed a report from The Daily Telegraph claiming an “emergency meeting” was to take place involving high-ranking LIV Golf executives, with speculation growing that an announcement was imminent.
Despite O’Neil putting cold water on the mounting rumors in a memo sent to his staff, reading, “I want to be crystal clear: Our season continues exactly as planned, uninterrupted and at full throttle,” just days later, PIF officially pulled the plug, confirming it would remove funding for LIV Golf at the end 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,” a PIF spokesperson said.
The announcement not only severely rocked LIV Golf but the whole professional golf landscape. Yet LIV was determined to remain defiant and, in swift fashion, issued an update announcing new board appointments as it sought to secure “long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model.”
At the time, that search looked like a long shot. Months later, LIV appears to have found the investment it was looking for.
Confidence and Uncertainty
Between PIF’s announcement and the revelation of LIV Golf’s new major investor, uncertainty remained. Players and O’Neil faced continued scrutiny in the following months, with DeChambeau especially unwilling to shy away from sharing his thoughts.
In May, the 32-year-old stated he was “very optimistic” about his LIV Golf future, defending the circuit and saying he would be giving it everything he could to help the league secure a future in the long term.
“I think we all have optimism that there is a business plan that makes sense for team golf,” DeChambeau said. “I’m very optimistic with the business plan of team golf compared to other models, in my opinion.”
Sergio Garcia pushed a similar message, claiming he was “99% sure that LIV Golf is going to continue.”
“It looks good,” Garcia said, speaking to bunkered.co.uk. “Obviously, I think they’ve had a lot of meetings with different possible investors. I’m 99% sure that LIV is going to continue.
“It’s just going to look different than it has the last four years. But I’m very, very confident that it’s going to keep going.”
During that period, O’Neil also remained positive as he continued to seek the rumored $250 million-$350 million in financial backing. But that came against the backdrop of the cancellation of LIV Golf Louisiana in New Orleans in late June.
The decision was attributed to a desire “to avoid the peak summer heat and the crowded global sports calendar while ensuring the course is in championship condition,” a statement some golf fans refused to completely believe.