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LIV Golf appears to be close to losing its financial backing from the Public Investment Fund of Saudi Arabia, as the league’s future has come under serious doubt Wednesday.
The PIF is “on the verge of cutting its support for LIV,” according to the Financial Times, and an announcement on the future of the kingdom’s involvement in LIV “could come as soon as Thursday,” sources told the U.K.-based outlet.
LIV Golf CEO Scott O’Neil is set to meet with staffers Wednesday evening in Mexico City ahead of the league’s sixth event of the season, which tees off Thursday.
This comes despite at least some positive business momentum for LIV early in 2026. League officials recently told Front Office Sports that revenue at the first five events of the season was up year-over-year in several key areas: sponsorship (+40%), ticket sales (+129%), VIP hospitality sales (+67%), merchandise retail (+26%), and YouTube revenue (+309%).
At least four LIV Golf events and 10 teams were projected to be profitable this year, according to league officials. However, the PIF’s total spend on LIV’s operations had been projected to surpass $6 billion by the end of this year. In 2024, a U.K.-based firm that runs LIV’s non-U.S. operations publicly reported losses totaling $461.8 million.
On Wednesday, the PIF board of directors approved the fund’s 2026–2030 strategy, unveiling three investment portfolios: the Vision Portfolio, Strategic Investments Portfolio, and Financial Investments Portfolio. LIV Golf was not specifically mentioned as a part of any of those three.
The Vision Portfolio has six economic ecosystems—tourism, travel, and entertainment; urban development; advanced industries and innovation; industry and logistics; clean and renewable energy and water infrastructure; and NEOM—compared to 13 strategic sectors under the previous strategy. The new Vision Portfolio is prioritizing Saudi Arabia’s local economy.
No final decision has yet been made on the future of LIV, FT sources said, with one adding that PIF is “actively considering the extent and duration of its support.”
The PIF’s new plan was drawn up before the U.S.-Israel war against Iran, but PIF governor Yasir al-Rumayyan said Wednesday that “of course the war would add more pressure to reposition some priorities,” per the FT.
LIV and the PIF have not officially commented on the golf league’s future.
The pre-tournament pro-am involving top players was held as scheduled, with Mexican boxer Canelo Álvarez among the celebrities competing.
Players and team executives have been operating as if business is happening as usual, despite the chaos and lingering questions.
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