Saudi Arabia's Public Investment Fund will stop bankrolling LIV Golf at the end of the current season, according to BBC Sport, plunging the breakaway tour into an uncertain future and forcing its leadership to seek replacement investors.
LIV is set to announce Thursday a "new strategic plan" alongside new independent board members as it attempts to restructure under fresh leadership. The tour's co-founder and most powerful figure, PIF governor Yasir Al-Rumayyan, is expected to step down from its board.
The overall Saudi investment in LIV surpassed $5 billion after a fresh injection of $267 million earlier this year. Despite that spending, the tour posted net losses of $462 million outside the United States in 2024 alone, and has lost more than $1.1 billion since launching in 2021. Total losses, including the US operation, are expected to run into several billion dollars.
Sources told BBC Sport that LIV is "totally up for sale" and that executives are exploring ways to reposition the business. The series remains hopeful of surviving as an international tour with its signature team format, and described talks with potential investors as "constructive." Officials also said LIV was on track to earn $100 million more in 2026 than last season.
But officials acknowledged the tour will likely shrink significantly, with far fewer than its current 14 events on the schedule. This week, LIV postponed its June event in New Orleans, leaving a gap in the US calendar between May 10 and August 6, when the tour is scheduled to play Trump Bedminster in New Jersey. Events in South Korea, Spain, and Britain are still planned for that window.
Team captains and staff have already been briefed on LIV's search for new funding. LIV Golf declined to comment for the BBC Sport report.
This month, LIV chief executive Scott O'Neil told players the 2026 season would continue "as planned and uninterrupted," but did not address the tour's longer-term finances. PIF has separately announced a shift in strategy toward more sustainable investments, a move that aligns with its decision to exit LIV.
The tour counts major winners Jon Rahm, Bryson DeChambeau, Phil Mickelson, and Cameron Smith among its players. In February, Rahm, Smith, and DeChambeau turned down a one-time opportunity to apply for reinstatement to the PGA Tour through its Returning Member Programme. Brooks Koepka was the only high-profile player to take up the offer.
LIV launched in 2021 and shifted this year to a more conventional 72-hole strokeplay format in a bid to attract broader interest. The future of that format, and the tour itself, now depends on whether new money arrives before the Saudi funding runs dry.
