LIV Golf to lose investment from Saudi Arabia, fund says
LIV Golf will lose its financial backing from Saudi Arabia's Public Investment Fund after the 2026 season, the fund announced Thursday.
"PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season," a representative for the PIF, Saudi Arabia's sovereign wealth fund chaired by Crown Prince Mohammed bin Salman, told ABC News on Thursday.
"The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy," the statement continued. "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."
The global golf league announced new board appointments following the news "as the league focuses on securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model."
LIV said that its "strategic evolution" includes the appointment of "a newly established independent board," which is led by Gene Davis and Jon Zinman, who will "guide the league through its next phase."
"LIV Golf has built something truly differentiated -- a global league with passionate fans, world-class talent, and demonstrated commercial momentum," Davis, chair of the Independent Directors Committee, said in a statement. "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."
The league reported "record-breaking 2026 performance," with 100% year-over-year growth in revenue that, according to LIV, will be used to "drive momentum in investor conversations."
Since LIV Golf first launched in 2022 as an upstart rival to the PGA Tour, it has faced mounting issues including financial losses for non-U.S. events, as well as departing star power following Brooks Koepka's return to the PGA.
LIV Golf comprises 13 teams with a 57-player field and no cuts with shotgun starts at 14 events. When it first launched, LIV Golf events featured a three-day, 54-hole competition, with the majority played Friday through Sunday, but expanded in 2026 to 72 holes over four days.
The league has drawn controversy and criticism from both players and fans for luring away top PGA stars like Phil Mickelson, Bryson DeChambeau, Jon Rahm, Bubba Watson, and Sergio García.
LIV Golf Investments was initially led by former professional Australian golfer Greg Norman, who stepped down after four years as CEO in December 2025.
