Saudi Arabia's PIF to end LIV Golf funding after 2026; new chairman appointed
Axios (Tổng hợp từ Al Jazeera English)
Saudi Arabia’s Public Investment Fund (PIF) has confirmed it will stop funding LIV Golf after the 2026 season. LIV Golf has announced a new board of directors and is seeking long-term financial partners.
Saudi Arabia’s Public Investment Fund (PIF) has confirmed it will cease funding the breakaway golf league LIV Golf after the 2026 season. The announcement comes as LIV Golf unveils a new board of directors and a business strategy to adapt to the loss of Saudi financial backing.
Yasir Al-Rumayyan, governor of the Saudi sovereign wealth fund and founder of LIV Golf, is no longer chairman of the league. Instead, Gene Davis of Pirinate Consulting Group and Jon Zinman of strategy advisory firm JZ Advisors will lead the new board, with Davis as chairman.
PIF stated: ‘The Fund has decided to support LIV Golf only for the remainder of the 2026 season. The significant long-term investment required by LIV Golf is no longer consistent with the current phase of PIF’s investment strategy. This decision was made based on investment priorities and current macroeconomic conditions.’
LIV Golf said it is exploring an investment model with multiple partners and team franchises. The league expects 10 of its 13 teams to be profitable this year. CEO Scott O’Neil told UK’s TNT: ‘The reality is you are funded through the season, then you have to work relentlessly to create a business plan to sustain operations.’
Backed by PIF’s financial muscle, LIV Golf spent $1 billion to recruit top golfers including Bryson DeChambeau, Brooks Koepka, Phil Mickelson, Cameron Smith and Jon Rahm. According to the Money in Sport newsletter, LIV has spent $5.3 billion since its launch in 2022 and expects to reach $6 billion by year’s end.
LIV events currently offer $30 million in prize money per tournament. The league’s future raises questions about its ability to retain star players as their lucrative contracts expire. DeChambeau said: ‘As long as LIV exists, I will find a way to make it work. This is a startup, there will be times we get pinched and punched. This is one of those moments.’
LIV Golf has also postponed an event scheduled for June 25-28 in Louisiana until autumn. The next event takes place May 7-10 in Virginia. Yasir Al-Rumayyan, who met US President Donald Trump at the White House in February 2025 alongside PGA Tour representatives, could not find common ground between the two tours, mainly because LIV wants to maintain its team format.
Brooks Koepka was the first golfer to leave LIV after last season to return to the PGA Tour, under conditions including no stock for five years, a $5 million charity donation, and no bonus this year. The PGA Tour offered similar terms to Rahm, DeChambeau and Smith, but all three declined.
