Saudi Arabia’s Public Investment Fund (PIF) has confirmed it will pull funding for LIV Golf at the end of the 2026 season as the circuit announces new board members.
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.”
LIV Golf have issued an update of their own by revealing new board appointments as it seeks to secure “long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model.”
This features the appointment of a newly established independent board led by Gene Davis and Jon Zinman.
“LIV Golf has built something truly differentiated – a global league with passionate fans, world-class talent, and demonstrated commercial momentum,” Davis said, who will take the role as chairman of the Independent Directors Committee. “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. We look forward to positioning LIV Golf for future success.”
Either updates do not mention governor of PIF and co-founder of LIV Golf Yasir Al-Rumayyan but it is believed that he will be stepping down from his position..
Al-Rumayyan, who has been one of the most influential figures involved in LIV Golf, co-founded the circuit alongside former LIV Golf CEO and two-time major winner Greg Norman, who departed in 2025 and was replaced by Scott O’Neil.
The confirmation comes after weeks of rumors circulating over the financial future of LIV Golf. Reports first emerged during the build up of LIV Golf Mexico City in the week of April 13. The Financial Times alleged that PIF was “on the verge of cutting its support for LIV Golf”. But O’Neil quickly insisted that the 2026 season would proceed “uninterrupted and at full throttle.”
Earlier this week, LIV Golf confirmed the postponement of the inaugural New Orleans event meaning there would not be a LIV Golf event held in the U.S. for a three-month period between May and August before heading to New Jersey for LIV Golf New York, fuelling more speculation over the future of the circuit.
PIF has reputedly ploughed an estimated $5bn into the league since its inception in October 2021 including $247m this year. LIV Golf’s first event took place four years ago on June 9, 2022 as part of the LIV Golf Invitational series and has managed to obtain high-profile players such as Phil Mickelson, Bryson DeChambeau, Jon Rahm, and Cameron Smith among others.
However, LIV Golf has lost more than $1.1bn since its establishment.
Additionally, some of LIV Golf’s leading players have since sought a return to the PGA TOUR. Brooks Koepka became the first recognizable player to abandon ship and return to the PGA TOUR with Patrick Reed also leaving LIV Golf soon after. DeCheambeau, Rahm, and Smith were given the opportunity to return to the PGA TOUR but none of the trio accepted.
But against the backdrop, LIV Golf’s announcement added: “LIV Golf’s conviction in the Team Golf model has never been stronger. The league has built a differentiated platform that is global by design, commercially vibrant, and structured to unlock untapped value across the sport.
“The 2026 season has already proven the demand for our product, with record-breaking engagement and a 100% increase in revenue year over year.
“LIV Golf is now leveraging this momentum to engage in constructive, forward-looking discussions with prospective global investors and partners who share its vision for an inclusive and modernized game. For the league’s fans, players, and partners, the commitment to world-class golf remains unchanged as this process unfolds.”
The next event on the LIV Golf schedule is LIV Golf Virginia set to take place between 7-10 May at Trump National Golf Club in Washington D.C.