LIV Golf appoints independent board to navigate funding withdrawal and financial restructuring
Investment bankers Gene Davis and Jon Zinman lead the new committee as LIV Golf seeks long-term partners to replace Saudi backing.
The LIV Golf League has established a new independent board to guide its operations following the confirmed withdrawal of funding from Saudi Arabia's Public Investment Fund (PIF) after the 2026 season. The league announced the formation of the Independent Directors Committee, which will be chaired by investment banker Gene Davis, with Jon Zinman serving as a key member. This structural change marks a significant pivot as the organisation attempts to transition from its current reliance on state-backed capital to a diversified, multi-partner investment model.
The departure of PIF governor Yasir Al-Rumayyan as chairman coincides with the announcement that the Saudi entity will cease funding the league beyond the current season. While the league has reported revenue growth of more than 100 per cent since 2025, with ten of its thirteen teams projected to turn a profit this season, the financial reality remains precarious. The organisation faces substantial liabilities from guaranteed contracts worth hundreds of millions of dollars to star players, including Jon Rahm and Bryson DeChambeau, even as it reports profitability in several events.
LIV Golf CEO Scott O'Neill stated that the league is funded through the remainder of the current season and is actively working to create a business plan to secure long-term partners. The new board, led by Davis and Zinman, aims to formalise the league's structure and attract capital to support this transition. Davis, who heads Pirinate Consulting Group, emphasised the opportunity to position the business for growth while continuing to promote the game globally, noting that the executive leadership team sees a clear path forward despite the loss of the PIF.
Operational logistics remain in flux as the league navigates this period of uncertainty. A tournament scheduled in New Orleans with the support of Louisiana Governor Jeff Landry has been postponed, with a potential fall date currently under consideration. Conversely, the upcoming event at Trump National Golf Club near Washington, D.C., is confirmed to proceed as planned. These adjustments reflect the league's effort to manage cash flow and operational costs while seeking a sustainable financial future.
The league's financial challenges are compounded by the absence of a traditional television contract in the United States and high staging costs, reportedly amounting to approximately $40 million per event. While LIV Golf has gained traction in markets such as Australia and South Africa, it has struggled to achieve high television ratings domestically. Sources indicate the organisation is exploring various structural models, including reducing the number of tournaments, staging only international events, or potentially merging with the DP World Tour, to ensure survival post-2026.
