Saudi Arabia will withdraw LIV Golf funding at the end of the season
Saudi Arabia will withdraw its multi-billion dollar backing of LIV Golf at the end of the current season, plunging the future of the breakaway circuit into severe doubt.
The controversial tour is scheduled to announce a new strategic plan on Thursday in an urgent bid to secure alternative financial investors.
Well-placed sources indicate that the organisation will also confirm the appointment of new board members to guide it through this transitional phase.
This major restructuring follows reports that Yasir Al-Rumayyan, governor of the Saudi Public Investment Fund (PIF) and the tour’s most powerful figure, could step down from his board position.
Search for new investment
Executives remain hopeful of maintaining an international schedule featuring their signature team model, despite the imminent withdrawal of their primary benefactor.
Discussions with potential new investors are reportedly under way and have been described as constructive by those close to the negotiations.
However, officials acknowledge that the series will likely face significant scaling back, resulting in a drastically reduced calendar of events.
Signs of operational disruption have already emerged this week, with the sudden postponement of a planned June tournament in New Orleans.
The cancellation means the circuit will not host any stateside events between 10 May and an early August gathering at Trump Bedminster in New Jersey.
Mounting financial losses
The withdrawal of Saudi backing aligns with a broader shift in PIF strategy towards more sustainable domestic and international investments.
The golf project has absorbed an eye-watering amount of capital since its inception in 2021, with total investment surpassing $5bn following a fresh $267m injection earlier this year.
Net losses in markets outside the United States surged to $462m in 2024, pushing international deficits past the $1.1bn mark.
With vast sums previously pumped into the American arm of the operation, total global losses are expected to run into several billion dollars.
Uncertain future for players
Team captains have already been briefed that ownership will reveal comprehensive plans to locate new financial backers later this week.
Chief executive Scott O’Neil recently assured competitors that the 2026 campaign would proceed without interruption, though he avoided addressing the broader structural rumours.
The series had attempted to broaden its appeal this year by pivoting to a traditional 72-hole format, moving away from the 54-hole structure that originally inspired its Roman numeral name.
Both LIV representatives and the Saudi sovereign wealth fund declined to provide official comment on the impending withdrawal.
