Published April 30, 2026
Saudi Arabia’s Public Investment Fund (PIF) has confirmed that funding for the breakaway LIV Golf League will be reduced after the 2026 season.
LIV Golf announced a new board of directors and new business strategy on Thursday as it seeks to move forward without Saudi funding. Saudi funding enabled the league to launch about four years ago with outsized contracts and prize money.
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Yasir Al Rumayan, the Saudi sovereign wealth fund president who was behind the creation of LIV Golf, is no longer listed as the fund’s chairman.
LIV announced that Gene Davis of Pirinate Consulting Group and Jon Zinman of strategic advisory firm JZ Advisors will lead a new board of directors, with Davis as chair. The focus is on securing a long-term financial partner when Saudi funding ends after this season.
The Saudi investment fund said in a statement: “PIF has decided to only fund LIV Golf for the remainder of the 2026 season.
“The significant investments required by LIV Golf over the long term are no longer consistent with the current stage of PIF’s investment strategy. This decision was made taking into account PIF’s investment priorities and current macro dynamics.”
“The LIV Golf Board has established a committee of independent directors to evaluate strategic alternatives for the future beyond the PIF funding period. Through its transformative and positive impact, LIV Golf has significantly grown golf globally. It has forever changed the game of golf for the better.”
“PIF remains committed to deploying its funds internationally in line with its investment strategy, including significant current and future investments in a variety of sports as priority areas.”
Meanwhile, LIV said it is exploring a transition to an investment model involving multiple partners and team franchises. The league said it expects 10 of its 13 teams to be profitable this year.
“Along with John and I, the executive team believes there is a clear opportunity to formalize the league’s structure, attract and secure long-term funding, and help position the business for growth while continuing to popularize the game around the world,” Davis said in a statement. “We look forward to positioning LIV Golf for future success.”
LIV Golf CEO Scott O’Neill told UK-based TNT two weeks ago during a tournament in Mexico: “The reality is we’ll be funded through the season and then we’ll be working like crazy as a company to get the business up and running and have a business plan to keep us going.”
This has raised questions about whether LIV Golf will be able to retain some of its top players after their lucrative contracts end. With the financial power of Saudi Arabia’s sovereign wealth fund, LIV was able to spend $1 billion to acquire the likes of Bryson DeChambeau, Brooks Koepka, Phil Mickelson, Cameron Smith and, ultimately, Jon Rahm, his last big contract at the end of 2023.
Newsletter Money in Sports reported earlier this year that LIV Golf has already spent $5.3 billion since the league’s inception in 2022, and this figure will rise to $6 billion by the end of this year.
LIV staff and players were aware that Saudi funding would only last until the 2026 season. Thursday’s announcement outlined plans to explore other sources of funding for the league, which currently offers $30 million in prize money for each tournament.
Al Rumayyan has a passion for golf and has long wanted to sit at the same table as the sport’s leaders. He had entered into a framework agreement with the PGA Tour and European Tour in 2023 and, if approved, would have joined the board of directors of PGA Tour Enterprises.
This agreement did not materialize save for the conclusion of antitrust litigation. Instead, PGA Tour Enterprises received a minority investment from a consortium of North American sports owners.
Al Rumayan, along with the PGA Tour team including Tiger Woods, Adam Scott and Commissioner Jay Monahan, had traveled to the White House in February 2025 to meet with US President Donald Trump. However, it was clear that LIV and the PGA Tour could not find common ground, mainly because the Saudi League wanted to stick to its team components.
DeChambeau and Rahm are both multiple major champions and are considered the top two players in LIV.
“As long as LIV is here, we’ll figure out a way to make it meaningful,” DeChambeau said in an interview with social media site Flushing It.
“Like any business, there are a lot of moving parts,” DeChambeau said. “This is a startup, right? So you’re going to be cornered and beaten at times. This is one of those moments. But I’m going to do everything in my power to make it successful. I really understand the value of franchise golf.”
LIV Golf announced earlier this week that its June 25-28 tournament in Louisiana will be postponed to the fall. The next tournament is scheduled for May 7-10 in Northern Virginia, and O’Neal said in a memo to his staff two weeks ago that the season would be held at “full throttle” without interruption.
Part of the reason it took more than three years for LIV to be recognized in the Official World Golf Rankings was the team concept, but when Al Rumayan launched the league with former CEO Greg Norman, it was all about team golf.
Koepka left LIV after last season, but the PGA Tour granted him a path back with conditions including a five-year ban on stock grants, a $5 million charity donation and no bonuses this year.
The tour has extended offers to three other LIV players who won majors in 2022 and beyond (Rahm, DeChambeau and Smith), giving them a deadline of Feb. 4 to accept. No one did.
PGA Tour CEO Brian Rolup said in an interview with the Wall Street Journal earlier this week, “We’re interested in getting the best players to help the tour. Not every player can do that.”
