LIV Golf looking for new partners amid reports Saudi Arabia is to pull funding this year

LAST UPDATE | 39 mins ago

The 42

LIV GOLF HAS said it is seeking to secure “long-term financial partners”, amid rumours Saudi Arabia’s sovereign wealth fund will stop financing the series at the end of the 2026 season.

LIV Golf, founded in 2021 as a main rival to the PGA Tour, issued a statement which pointedly did not mention Saudi Arabia.

“LIV Golf today announced new board appointments as the league focuses on securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multipartner investment model,” read the LIV statement.

There was also no mention of Saudi Public Investment Fund (PIF) governor Yasir Al-Rumayyan, who co-founded LIV Golf and is a member of the board.

The statement mentioned that two new board members, Gene Davis and Jon Zinman, had joined.

LIV Golf described the duo as “seasoned experts with proven track records of navigating complex situations and unlocking value for global organisations, to guide the league through its next phase.”

According to the Wall Street Journal, LIV planed to inform staff and players today that PIF will no longer bankroll the circuit beyond this summer.

The league spent billions of Saudi dollars to lure many of the world’s top players, including Bryson DeChambeau and Spaniard Jon Rahm.

Reports first emerged earlier this month that the breakaway tour was on the verge of collapse due to the possible withdrawal of Saudi financing.

LIV’s deep-pocketed backers in Riyadh were rumoured to have cooled on the extravagantly expensive project, which has reportedly cost them over $5 billion (€4.3bn) so far.

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LIV Golf CEO Scott O’Neil refuted the reports, vowing to continue the season “full throttle,” though he conceded the league would “probably” have to raise money going forward.

A collapse of LIV Golf could jeopardise the careers and earnings of its star players.

The likes of DeChambeau defected from the PGA Tour in acrimonious circumstances and may face severe penalties if they try to return.

“There were rules, and they were broken,” PGA Tour chief executive Brian Rolapp told the Journal this week. “With rules comes accountability.”

Brooks Koepka became the first LIV player to return to the PGA fold when the five-time major winner jumped ship last December.

The 35-year-old American’s return was made possible as the PGA created a Returning Member Program, described as offering “a route back to elite performers who no longer have contractual limitations preventing them from complying with PGA Tour rules and regulations”.

LIV Golf, this week, postponed its planned June tournament in New Orleans on Tuesday, with officials saying they hope to reschedule an event for later this year.

LIV’s next tournament is set for 7-10 May at Trump National in suburban Washington.

Its final scheduled tournament this season is set to take place in Indianapolis from 20-23 August. 

– © AFP 2026

Written by AFP and originally published on The 42 whose award-winning team produces original content that you won’t find anywhere else: on GAA, League of Ireland, women’s sport and boxing, as well as our game-changing rugby coverage, all with an Irish eye. Subscribe here.