7 Questions About LIV After Saudis Pull Funding

The Public Investment Fund of Saudi Arabia officially announced it will stop funding LIV Golf after the 2026 season, which has prompted even more questions about the league’s long-term viability.

Amid the uncertainty, Front Office Sports dives into seven of the biggest unknowns about LIV’s future, and what’s next for the league’s players.

Will LIV finish its 2026 season?

After canceling its New Orleans stop in June, LIV has seven events remaining on its 2026 schedule, beginning next week with LIV Golf Virginia at Trump National Golf Club Washington, D.C. The schedule runs through August, which includes three more U.S. tournaments.

The PIF confirmed it will fund LIV for the remainder of this season. So the league should be able to host the rest of its events as planned. Its biggest threat would be players deciding to not compete in order to get a jump start on the next step of their professional careers.

The PIF also owns English Premier League club Newcastle United and several Saudi Pro League soccer teams, although it is selling 70% of the Al-Hilal club to another Saudi royal holding company. The PIF has also had investments in Formula One, the ATP, and WTA tennis tours, and the Ladies European Tour golf circuit.

Will LIV exist in 2027?

LIV, which launched in 2022, had already announced four tournament dates for its 2027 season, including events in Saudi Arabia, Australia, South Africa, and Hong Kong, as well as announcing plans to return to Mexico. But hosting those tournaments without sufficient funding would not be possible.

LIV on Thursday created a new independent board of directors tasked with securing long-term financial partners for the league. Financial commitments would seemingly need to be secured within the next several months in order to proceed with a standard 2027 schedule.

Who could potential new investors be?

LIV could seek out private equity firms, other sovereign wealth funds, family offices, and wealthy individuals as targets for league investors.

The for-profit PGA Tour Enterprises entity was created in 2024 after an initial $1.5 billion investment from Strategic Sports Group, a consortium of U.S.-based professional sports team owners, including Fenway Sports Group, Arthur Blank, Steve Cohen, and others. 

Others that showed interest in investing in the PGA Tour included Arctos Partners, Endeavor, and a group led by billionaire Henry Kravis, the founder of private-equity firm KKR. 

Endeavor also considered an investment in LIV in the league’s early years; Endeavor’s operations have since been folded into other areas of the TKO Group, whose president Mark Shapiro previously told FOS is not interested in investing in LIV.

What would LIV be worth?

When the PGA Tour and the PIF were in discussions about a deal and potential merger with LIV in 2024 and 2025, the PGA Tour estimated LIV’s valuation to be around $500 million. PIF leaders disagreed, which stalled further progress.

While the PIF’s total spend on LIV’s operations is projected to surpass $6 billion by the end of this season, its returns have been minimal. Total figures have never been reported, although LIV has said that through its first five events of this season, year-long revenue was tracking $100 million ahead of 2025.

LIV previously had talks with potential franchise investors about investing in teams at a $300 million valuation. LIV’s 13 franchises are currently owned 25% by team captains and 75% by the league; up until this point, there have been no investment transactions.

What will the path back to the PGA Tour be for LIV players?

Most returns would be on a case-by-case basis, depending on each player’s situation.

Recent major championship winners Bryson DeChambeau, Jon Rahm, and Cam Smith were previously eligible for the PGA Tour’s Returning Member Program that was created when Brooks Koepka had his membership reinstated. They could have immediately re-joined the PGA Tour in January, but declined.

Patrick Reed is serving a de facto one-year suspension, as he will have his PGA Tour membership reinstated in late August, after it has been one year since his most recent LIV start. 

While Koepka and Reed have set some precedent for former LIV players returning, some PGA Tour sources have cautioned to FOS that nothing concrete has been decided about more LIV players coming back and that things may not be the same since the situation has changed.

Who would be the PGA Tour’s top targets?

Beyond DeChambeau, Rahm, and Smith, other players who might attract interest would be 24-time PGA Tour winner Dustin Johnson and international stars who have multiple PGA Tour wins like Tyrrell Hatton and Joaquin Niemann.

Phil Mickelson’s relationship with the PGA Tour has likely soured to the point that neither party would seek reconciliation. 

Will the DP World Tour be an option for LIV players?

The DP World Tour (formerly known as the European Tour) on Feb. 21 granted conditional releases for eight golfers to keep their membership while continuing to compete on LIV this year.

Some young players like Spain’s David Puig and Northern Ireland’s Tom McKibbin who never had status on the PGA Tour would likely prioritize the DP World Tour should LIV fold.

Currently, the top 10 finishers in the DP World Tour’s season-long points race who are not already exempt on the PGA Tour receive PGA Tour cards for the following season.