LIV Golf to End Funding from Saudi Arabia After 2026 Season
-
LIV Golf is preparing to inform players and staff that its main financial backer, Saudi Arabia’s Public Investment Fund, will stop funding the league after the 2026 season, according to Golfweek. The announcement—expected midweek—would open the door for CEO Scott O'Neil to pursue new investment to keep the tour running.
Compare 5 other versions
Washington Times BusinessThe Saudis have spent $5 billion on LIV Golf over five years without achieving profitability, including $1 billion on player contracts. Players compete for $30 million purses at each event on the LIV schedule, an amount that could be reduced next year without Saudi funding.
MarketWatchLIV Golf is set to lose its financial backing from Saudi Arabia’s Public Investment Fund (PIF) which has reportedly poured $5.3 billion into the golf league since its inception in 2021.
BBC BusinessPublished Saudi Arabia will withdraw its multi-billion dollar backing of LIV Golf at the end of the season, plunging the future of the series into doubt.
Financial TimesUpstart league unable to build a sustainable business so it could wean itself off a total reliance on the PIF’s wealth
BloombergLIV Golf has tapped law firm Gibson Dunn & Crutcher to advise it in an effort to turn around a loss-making business and find investors to fill the gap left by Saudi Arabia’s Public Investment Fund, according to people familiar with the matter.
-
Uncertainty around funding has been building. In April, O’Neil acknowledged the league is only financed through this season, saying future survival depends on securing new backers—even as he publicly maintained LIV is in its best position yet.
Compare 1 other version
Washington Times BusinessO’Neil mentioned sponsorships, ticket sales, television contracts and the league’s global footprint as reasons for optimism that it could secure funding. The league plans to take its 13 franchises to market, and O’Neil said those teams would be offered to potential buyers with players in place.
-
Major winners Jon Rahm, Bryson DeChambeau, Phil Mickelson and Cameron Smith are among the players who compete on the LIV tour.
Compare 2 other versions
Washington Times BusinessThe PIF’s deep pockets were integral for LIV in prying some of the sport’s best players from the PGA Tour. It spent $1 billion to land the likes of Bryson DeChambeau, Brooks Koepka, Phil Mickelson, Cameron Smith and eventually Jon Rahm, the last big signing at the end of 2023.
ZeroHedgeLIV did manage to lure big names like Phil Mickelson, Dustin Johnson, Bryson DeChambeau, and Jon Rahm with lucrative deals. Still, its team-based, no-cut format struggled to resonate broadly, despite pockets of success overseas and moments like Anthony Kim’s brief resurgence.
-
It follows an era in which the fund poured staggering sums of money into various sports ventures around the world. Soccer has been a centerpiece - the country is hosting the 2034 World Cup, while PIF owns a majority stake in Newcastle of the Premier League and bolsters the Saudi Pro League. The fund has also spent big on men’s and women’s pro tennis, Formula 1, boxing and more.
Compare 1 other version
BBC BusinessSaudi Arabia hosts and invests in a number of sports, including football, boxing, Formula 1 and tennis, and is due to host the 2034 World Cup. Earlier this month, PIF announced it had sold a 70% stake in Saudi Pro League club Al-Hilal.
5 details only one outlet reported
Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
-
01 Washington Times Business STERLING, Va. — Jon Rahm has resolved his financial dispute with the European tour, a move that potentially gives him a place to compete in 2027 and beyond with LIV Golf facing an uncertain future.
-
02 Bloomberg Private equity firm KPS Capital Partners is buying the discounted debt of its own company, Oldcastle BuildingEnvelope, in a bid to secure the upper hand in the glass giant’s looming financial overhaul.
-
03 ZeroHedge Since launching in 2022 as a challenger to the PGA Tour, the circuit has reportedly burned through more than $5 billion while failing to gain meaningful U.S. viewership. Broadcast deals with The CW Network and later Fox did little to improve ratings.
-
04 MarketWatch The league has relied entirely on funding from PIF, but announced on Thursday that it’s now searching for new investors.
-
05 BBC Business On Thursday, the breakaway tour announced a "strategic evolution" - including a newly established independent board led by Gene Davis and Jon Zinman, who it says have "proven track records of navigating complex situations" - as it bids to find replacement financial investors.
Fact Corroboration
Which sources independently confirm the same facts. Hover a claim to see its sources, or a source to see what it corroborates.
Coverage by Perspective
Source Similarity
Connections show how similarly each outlet covered this story. Thicker lines = more similar framing.
Sources (6)
- marketwatch
- zerohedge
- bbc-biz
- washtimes-biz
- bloomberg
- ft