LIV Golf's Future in Question as Saudi Arabia's Public Investment Fund Cuts Financial Support

The Saudi Arabia Public Investment Fund (PIF) formally announced Thursday its decision to cut funding for the LIV Golf Tour following the end of the 2026 season, leaving the future of the four-year-old league in jeopardy.

 

LIV Golf employees, staff and players were officially notified Thursday that the PIF would end its financial responsibility, and in response, created an independent board in an attempt to keep the controversial league afloat.

 

“PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season,” a PIF spokesperson said Thursday. “The substantial investment required by LIV Golf over a longer term is no longer consistent with the phase of PIF’s investment strategy. This decision has been made in light of PIF’s investment priorities and current macro dynamics.

 

“The LIV Golf Board has created a committee of independent directors to evaluate strategic alternatives for its future beyond PIF’s funding horizon. LIV Golf has substantially grown the game globally through its transformation and positive impact. It has forever changed the game of golf for the better. 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.”

 

Paying more than $5.3 billion since the tour’s inception in 2022, LIV Golf is reportedly spending hundreds of millions to its players to begin the 2026 season and is currently spending approximately $40 million at each event.

 

Both Jon Rahm and Bryson DeChambeau are set to a substantial amount of guaranteed money during the upcoming season, while DeChambeau’s contract expires at the conclusion of 2026.

 

Patrick Reed, winner of the 2018 Masters Tournament, announced in January he would not return to LIV Golf, in hopes of rejoining the PGA Tour for the 2027 season.

 

Reed, 35, remains suspended by the PGA Tour until late August, one year since playing in his last LIV Golf event, leaving him with limited playing opportunity on the DP World Tour and four majors. He finished tied for 12th at Augusta during the season’s first major earlier this month.

 

Koepka, the 35-year-old winner of five major championships, expressed his desire to return to the PGA Tour, paying a penalty estimated between $50-85 million, which includes a $5 million charitable donation, forfeiture of Player Equity Program money until 2030 and ineligibility for FedEx Cup bonus money in 2026.

 

Though he is ineligible to compete in the PGA Tour’s signature events during 2026, he is able to play his way into the $20 million events through the Tour’s full-field events.

 

Koepka has made five cuts in eight starts in 2026 so far, earning four top-25s and one top-10 at the Cognizant Classic in The Palm Beaches, helping him claim more than $1.2 million in winnings.

 

January 2020 – A startup tour format is finalized consisting of 48 players competing in 12 four-man teams, 54-hole events with no cut and a shotgun start.

 

October 2021 – LIV Golf names two-time Open winner Greg Norman as CEO.

 

June 2022 – Multiple high-profile PGA Tour players join the new tour, including Phil Mickelson, Dustin Johnson, Brooks Koepka and Bryson DeChambeau.

 

June 9, 2022 – The first LIV event takes place in England and PGA Tour officially suspends all players taking part in the event.

 

August 2022 – A total of 11 players file an antitrust lawsuit against the PGA Tour.

 

June 2023 – The PIF, PGA Tour and the DP World Tour end all litigation and agree to form new partnership to best serve the game.

 

December 2023 – Jon Rahm signs contract with LIV Golf.

 

February 2023 – The USGA and R&A allow LIV exemptions into the U.S. Open and the Open championships.

 

September 2025 – CEO Greg Norman steps down after the expiration of his contract with LIV Golf.

 

January 2026 – Brooks Koepka pays fine and accepts future penalties to return to the PGA Tour after leaving LIV Golf in 2025.

 

February 2026 – LIV Golf changes format to 72-hole events and obtains Official World Golf Ranking (OWGR) points.

 

April 2026 – Financial Times reports Saudi Arabia’s PIF will cut funding for LIV events following the 2026 season.

 

April 30, 2026 – The Saudi Arabia PIF officially announces it will no longer fund LIV Golf following the conclusion of the 2026 season.