LIV Golf faces shutdown threat as Saudi PIF considers funding withdrawal
The future of LIV Golf is in serious doubt following an emergency executive meeting in New York amid reports that the Saudi Arabian Public Investment Fund is considering withdrawing its financial backing.
Executives from the breakaway circuit held urgent discussions on Tuesday to address mounting concerns over the project’s long-term viability.
The sovereign wealth fund has reportedly poured almost $5bn into the controversial league over the past four years.
However, the UK-based entity behind the enterprise posted significant operating losses of £461.8m in 2024 alone.
Mounting financial pressure and strategic shifts
Speculation surrounding the tour’s potential demise aligns with a broader strategic shift from its primary financial backers.
The Saudi fund, which manages nearly $1tn in global assets, recently outlined a revised investment blueprint for the remainder of the decade.
This new approach mandates a strict focus on achieving sustainable value and increasing overall investment efficiency across their vast portfolio.
Consequently, tour executives are believed to be evaluating an exit strategy while determining the immediate next steps for the golf venture.
Mexico City disruptions and player reactions
Despite the backstage turmoil, preparations for this week’s scheduled tournament in Mexico City are continuing.
Yet the atmosphere at the venue has been notably strained, with Tuesday’s media obligations abruptly cancelled.
Officials blamed local power outages for the sudden closure of the media centre and the abandonment of scheduled press conferences.
Meanwhile, competitors remain officially in the dark regarding any impending collapse of the Saudi-backed circuit.
Former Masters champion Sergio Garcia insisted that the roster still trusts the reassurances provided earlier this year.
“Honestly, we aren’t going to listen to anything except for what Yasir [Al-Rumayyan] told us at the start of the year, that he is behind us, that they have a project for many years.”
The Spanish veteran acknowledged the swirling rumours but maintained that players have received no official updates regarding an imminent shutdown.
