Saudi Arabia’s Public Investment Fund is pulling its money from LIV Golf, leaving the breakaway league scrambling to survive. LIV plans to tell players and staff that PIF will stop bankrolling the circuit after this season, while the PGA Tour isn’t ready to welcome back the defectors.
The Athletic says PIF announced it is pulling investment at the end of 2026, pushing LIV onto the market. An event in New Orleans was already postponed, and PIF chairman Yasir Al-Rumayyan stepped down from the board as the league set up an independent board and began hunting for private capital.
Players seek exits. Representatives for multiple LIV golfers have contacted the PGA Tour about returning, but the terms look tighter. Golf Digest reports the tour’s prior “Returning Member Program” won’t be renewed and that some former LIV players could face stiffer scrutiny, especially those tied to litigation (Golf Digest).
The numbers
- LIV spends over $100 million per month and lost $590.1 million in a U.K. entity in 2024, according to reporting cited by The Athletic.
- The league says it has reached $500 million in sponsorships, with names linked to Saudi entities, and claims certain events and teams could be profitable in 2026—figures multiple investors questioned (The Athletic).
- LIV is pitching team equity sales at valuations as high as $300 million, with Citi’s Global Sports Advisory leading the effort, while investor interest remains scarce (The Athletic).
The window is tight. LIV says it is seeking long-term partners and exploring team sales, but unless it lands fresh capital, PIF’s exit at the end of 2026 would leave a funding gap just as players probe their way back to the PGA Tour. Whether LIV can secure outside money before that cutoff now dictates the future of its 13 teams.
