The future of the breakaway golf circuit LIV Golf is in disarray, with Saudi Arabia set to withdraw its multi-billion dollar financial backing at the end of the current season. The development marks a pivotal moment for a series that changed professional golf’s landscape since its launch in 2022, while also raising pressing questions on the future of players, staff and stakeholders whose careers and investments are tied to its fate.
According to sources, the Saudi Public Investment Fund (PIF) – the primary financial engine behind LIV Golf – is preparing to step away as the tour looks to unveil a “new strategic plan” on Thursday, April 30. The announcement is expected to outline efforts to secure alternative investors, alongside the appointment of new independent board members as part of a broader leadership reset.
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The potential exit of PIF, Saudi Arabia’s primary sovereign wealth fund established in 1971, is further underscored by reports that its governor, Yasir Al-Rumayyan, could step down from LIV’s board. A central figure since co-founding the league in 2022, Al-Rumayyan has been instrumental in driving the tour’s rapid rise through unprecedented financial backing.
The uncertainty comes at a time when LIV’s schedule has already shown signs of disruption. This week, the tour postponed its June event in New Orleans, creating a significant gap in its United States calendar between May 10 and August 6, when it is next scheduled to resume at Trump Bedminster in New Jersey. Events in South Korea, Spain and Britain, however, remain on track during this period.
Despite the upheaval, LIV executives are attempting to project stability. The league remains hopeful of continuing as an international, team-based competition and is understood to be in “constructive” discussions with potential investors. Internally, the circuit is described as being “totally up for sale,” with leadership exploring multiple avenues to “reposition” the business.
Net losses rose
Financially, the picture is complex. Sources suggest LIV Golf is on course to generate $100m (£86m) more in 2026 compared to last season. Yet this growth is set against mounting losses. The tour’s net losses in markets outside the United States rose to $462m (£340m) in 2024, taking cumulative losses since its inception in 2021 to more than $1.1bn (£810m).
With substantial additional investment directed into its US operations, overall losses are expected to run into several billion dollars. The total funding commitment from PIF has already surpassed $5bn (£3.8bn), including a fresh injection of $267m (£229m) this year.
Officials now concede that a scaled-back future may be inevitable, with significantly fewer than the current 14 events likely if new funding is secured. Team captains and staff have already been briefed on plans to identify alternative financial support, reflecting the growing sense of urgency within the organization.
Golfers’ future in limbo
For players, the uncertainty carries both professional and personal weight. High-profile names such as Jon Rahm, Bryson DeChambeau, Phil Mickelson and Cameron Smith remain central to LIV’s identity, even as questions swirl about long-term viability. Earlier this year, Rahm, Smith and DeChambeau declined a one-time opportunity to return to the PGA Tour through its ‘Returning Member Programme’, while five-time major winner Brooks Koepka accepted the offer, reportedly paying fines of about £63m to facilitate his return.
The broader backdrop adds another layer of complexity. PIF – which also owns Premier League club Newcastle United – recently outlined a strategic shift towards more sustainable investments. LIV Golf’s future now appears to be caught within that recalibration.
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Even as LIV Golf chief executive Scott O’Neil reassured players this month that the 2026 season would proceed “as planned and uninterrupted,” he stopped short of detailing what lies beyond. With LIV Golf Virginia at Trump National Golf Club near Washington DC set to begin on May 7, the immediate calendar continues — but the longer-term picture remains uncertain.
For a tour that once promised to redefine golf with bold ambition and financial muscle, the coming months may prove decisive in determining whether LIV can reinvent itself – or whether its disruptive chapter in the sport’s history begins to close.
