Saudi Arabia’s PIF Set to Pull Plug on LIV Golf Funding After This Season
Saudi Arabia’s Public Investment Fund (PIF) is preparing to halt its financial backing of LIV Golf after the current season, according to a Wall Street Journal report published Wednesday. LIV Golf is expected to inform players and staff of the decision by Thursday, the paper said, citing people familiar with the matter.
A $6 Billion Experiment Winds Down
The PIF has spent an estimated $6 billion on LIV Golf since the breakaway circuit launched in 2022, making it one of the most expensive sports ventures in recent history. Reuters was unable to independently verify the WSJ‘s reporting.
The announcement, if confirmed, marks a dramatic reversal. Just two weeks ago, sources close to the matter told Reuters that LIV’s 2026 season would proceed as planned with the PIF’s full backing, directly contradicting earlier reports of a funding crisis.
LIV Golf CEO Scott O’Neil had reinforced that message in an email to players, seen by Reuters, stating the season would continue “exactly as planned, uninterrupted and at full throttle.”
A Disruptive Force in Professional Golf
Backed by the PIF from its inception, LIV upended professional golf by luring several high-profile players away from the established tour circuit with lucrative contracts. Signatories included Bryson DeChambeau, Jon Rahm, Brooks Koepka, and Phil Mickelson.
The circuit positioned itself as a vehicle for growing golf globally, though it attracted sustained criticism from human rights organisations who argued Saudi Arabia was using sport to rehabilitate its international image. The Saudi government has consistently denied accusations of human rights abuses.
PGA Tour Merger Remains Unresolved
The withdrawal of PIF funding raises fresh questions about the future of a landmark commercial agreement announced in June 2023, under which the PGA Tour, the PIF, and the Europe-based DP World Tour agreed a framework to combine their commercial operations. No definitive deal has yet been concluded.
According to the WSJ, the PGA Tour is not prepared to automatically readmit LIV players, with any returns expected to be evaluated on a case-by-case basis. Brooks Koepka and former Masters champion Patrick Reed have already departed LIV in recent months, suggesting the circuit’s grip on top talent was loosening even before this latest development.