Saudi Arabia’s Public Investment Fund is pulling its money from LIV Golf, putting the upstart league on the block and its future in doubt. LIV has begun telling players and staff that PIF funding is ending, according to the Wall Street Journal, and the league is now seeking outside capital, per The Athletic.
Inside the shake-up. PIF chairman Yasir Al-Rumayyan has stepped off LIV’s board, and the league says it has formed an independent board with Gene Davis and Jon Zinman while it searches for “long-term financial partners.” It is also shopping its 13 teams to investors, according to The Athletic.
The numbers are ugly. LIV spends over $100 million per month and at least $30 million in prize money per event, and its U.K. entity lost $590.1 million in 2024, The Athletic reported. Investors told the outlet they see little appetite to back the league at current burn rates, especially without a rich media deal in a major market.
Players eye returns
Representatives for multiple LIV players have contacted the PGA Tour about coming back, Golf Digest reports. But the path will be tighter: the Tour’s recent “Returning Member Program” isn’t expected to be renewed, and players who joined antitrust litigation could face added scrutiny, per Golf Digest.
Events are already wobbling. A summer stop in New Orleans was postponed with no new date, and LIV says it’s focused on lining up partners to keep the season funded, according to The Athletic. Until new money is signed, postponed events—and player contracts tied to them—remain in limbo.