Saudi Arabia ends multi-billion dollar backing of LIV Golf after 2026 season
Sources indicate co-founder Yasir Al-Rumayyan may step down from the board as LIV Golf seeks new investors to replace the Saudi state's financial support.
The Saudi Public Investment Fund (PIF) has confirmed it will terminate all financial support for the LIV Golf Invitational Series following the conclusion of the 2026 season. This decision marks a definitive end to the multi-billion dollar funding model that underpinned the tour since its launch in June 2022, aligning with the PIF's strategic pivot towards more sustainable investments.
In response to the withdrawal of state backing, LIV Golf is preparing to announce a new strategic plan on Thursday. The tour aims to secure fresh investors and appoint new board members to replace the current leadership structure. Reports suggest that PIF Governor and co-founder Yasir Al-Rumayyan, who has been the tour's most powerful figure since establishing the project in 2021, may step down from the board as part of this reorganisation.
The financial reality of the tour has long been precarious, with net losses exceeding $1.1 billion since its inception in 2021. Losses in markets outside the United States reached $462 million in 2024 alone. With the PIF's vast capital injection, which surpassed $5 billion including a $267 million infusion earlier this year, now ending, the tour faces significant uncertainty regarding its future viability and ability to sustain its operations without state subsidies.
Operational adjustments are already underway, with the tour having postponed its June event in New Orleans. This postponement results in a gap in the US calendar with no tournaments scheduled between 10 May and 6 August. While executives are exploring opportunities to reposition the business and remain hopeful of remaining an international tour with a team model, sources indicate that a significant scaling back of events is likely.
Despite the looming funding changes, LIV Golf chief executive Scott O'Neil previously told players that the 2026 season would continue as planned. However, the tour remains in constructive talks with potential investors, aiming to earn $100 million more in 2026 than the previous season. The success of this transition will depend on the tour's ability to attract private capital to replace the public funds that have bankrolled its disruption of the existing professional golf structure.
The announcement comes as the PIF details its new strategy focusing on sustainable investments, effectively ending the era of state-sponsored disruption in professional sports. As LIV Golf moves to find new financial backers, the future of the tour's global footprint and its relationship with traditional golf bodies remains a critical question for the industry.
