LIV Golf’s Future: 3 Big Questions

Afternoon Edition

April 16, 2026

LIV Golf plans to play out its season as scheduled, even as questions linger about whether the Public Investment Fund of Saudi Arabia will continue funding the league long-term. If that backing were to change, it would raise a host of new questions about what comes next—we look at the biggest ones.

—David Rumsey

First Up

Saudi Arabia’s PIF moved to sell a major soccer stake as it shifts priorities and weighs pulling back from global sports investments. Read the story.
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First at FOS: The NBA held talks with Kalshi and Polymarket as discussions intensified and team presidents got an update this week. Read the story.
NFL Draft week brings rising tension, trade chatter, and uncertainty across teams as Pittsburgh prepares for massive crowds. Read the story.

LIV Golf’s Future: Three Big Questions If Saudi Funding Dries Up

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As LIV Golf moves forward with the rest of its season following multiple reports signaling a lack of long-term funding for the league, uncertainty remains about LIV’s existence beyond this year.

Should the Public Investment Fund of Saudi Arabia decide to no longer financially back LIV, which it has done since the tour launched in 2022, there are three major questions surrounding what would happen next.

Could LIV Golf Members Return to the PGA Tour?

The timeline for LIV players to return to the PGA Tour would almost certainly vary between individuals.

PGA Tour CEO Brian Rolapp said Wednesday he is “interested in doing whatever makes the PGA Tour better. Fans want the best players playing together.” Speaking to Trey Wingo on the Straight Facts Homie! podcast, Rolapp said, “I don’t know what the circumstances are. Once there’s clarity, we’ll cross that bridge when we get to it. But we’re clearly not there yet.”

Brooks Koepka was able to immediately rejoin the PGA Tour as the first participant in the newly created “Returning Member Program,” which was also made available to LIV’s Bryson DeChambeau, Jon Rahm, and Cam Smith. However, no one else accepted the offer, and the program is not currently open. Rolapp could decide to make the same or a similar offer to the trio of stars if LIV folds.

Patrick Reed is set to rejoin the PGA Tour as early as August, after it has been one year since his most recent LIV start. That one-year ban would likely be what most LIV players would face if they want to get back on the PGA Tour, or seek membership for the first time.

Could LIV Continue With New Investors?

LIV, now in its fifth season, has been an expensive operation, hosting events around the globe and now paying out $33 million weekly purses. The PIF’s total spending on the league is projected to surpass $6 billion by the end of this year.

A LIV official recently told Front Office Sports that the league, through five events this season, was tracking $100 million ahead in revenue year over year, with significant increases in sponsorship (+40%), ticket sales (+129%), VIP hospitality sales (+67%), merchandise retail (+26%), and YouTube revenue (+309%). At least four LIV events and 10 teams are projected to be profitable this year, according to the league.

Should the PIF end its funding, though, it could look to sell off its LIV assets, and league officials could also seek out new investors to keep the tour running.

LIV this year was already in the early stages of reviewing strategic options for minority stake sales in at least two of the league’s thirteen teams, each of which is owned 25% by team captains and 75% by the PIF. The sports group at Citigroup has been LIV’s exclusive adviser in that process, which has included conversations with private-equity funds, family offices, and other individuals.

Finding new investors now, though, could prove difficult. “Can’t imagine anyone would touch it,” one anonymous PE executive told FOS.

In 2023, former Endeavor CEO Ari Emanuel said he had previously considered a $1 billion investment in LIV that would have replaced the PIF’s early involvement.

However, Emanuel is now CEO of TKO Group Holdings and the principal investor in live experiences company Mari. And Endeavor is now majority-owned by Silver Lake, whose co-CEOs Egon Durban and Greg Mondre last year reportedly invested in TMRW Sports, the Tiger Woods–cofounded parent company of TGL, which is also backed by the PGA Tour.

Will the PIF Continue Other Golf Investments?

The PIF is also currently invested in several other golf events and tours beyond LIV.

On the Ladies European Tour, the five-event PIF Global Series is paying out $15 million in prize money this year. February’s $4 million Aramco Championship in Las Vegas was co-sanctioned with the LPGA.

The Asian Tour has the International Series, which is backed by the PIF, serving as a pathway for players to earn spots on LIV. This year, seven events are paying out $17 million in prize money, culminating with the $5 million PIF Saudi International in November.

Golf Saudi, the nation’s initiative promoting the sport domestically, has sponsored dozens of players across LIV, the LPGA, and LET.

Given the PIF’s new strategy prioritizing Saudi Arabia’s local economy more so than international investments, events played in Saudi Arabia are likely to remain even if LIV and other tours see their funding cut.

Built for Fans. Applied to Business

As the world’s attention turns to the global game this summer, one thing is clear: The organizations that win aren’t just building audiences—they’re building belonging.

In sports, fandom is a blueprint for loyalty. Teams have long mastered what many industries are still chasing: how to create emotional connection at scale, design seamless experiences across every touchpoint, and turn moments into lasting relationships.

Now, those same expectations are shaping every industry.

Join us June 11 in Los Angeles for Future of Sports: The Business of Fandom presented by EY Consulting.

We’ll explore how purpose-driven fandom, AI-powered personalization, and real-time infrastructure are redefining engagement—and what every business can learn from sports’s ability to turn customers into communities.

Space is limited—request to attend.

ONE BIG FIG

Pricey Train Ride

The Record

$100

That’s the amount World Cup fans could pay for a round-trip train ride between New York City and MetLife Stadium, as New Jersey officials weigh how to cover a $48 million transportation shortfall tied to the tournament. Gov. Mikie Sherrill has argued FIFA—not local commuters—should foot the bill.

With limited parking and tens of thousands of fans expected per match, rail will be the primary access point—turning pricing into a flash point over who pays for hosting one of the world’s biggest sporting events. Read the story.

LOUD AND CLEAR

Wearables Win

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“Data is not steroids.”

—Whoop, in a statement to Front Office Sports, said restricting access to wearable data “does not undermine competition” and supports player performance. The company has pushed back on Grand Slam bans, arguing athletes should be able to track their own health.

After backlash from players at the Australian Open, the French Open will allow wearables on a trial basis. The trial will extend to Wimbledon and the US Open, marking a significant shift after earlier Grand Slam restrictions. Read the story.

STATUS REPORT

One Up, Two Down, One Push

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LIV Golf ⬇ The YouTube stream of the league’s Mexico City event went dark after players teed off Thursday afternoon. “Please stand by … Technical Issues,” read an on-screen graphic. At the top of the broadcast, which began at 3 p.m. ET, lead announcer Arlo White said Wednesday’s reports of LIV’s imminent demise “were greatly exaggerated.”

USOPC ⬆⬇ U.S. Olympic and Paralympic Committee chair Gene Sykes said the organization’s board shared concerns about Los Angeles Olympics chairman Casey Wasserman with the LA28 board. A February release of the Jeffrey Epstein files revealed Wasserman exchanged flirtatious emails with convicted child sex offender and Epstein confidant Ghislaine Maxwell. LA28, which decides Wasserman’s role, said in February that Wasserman “should continue to lead LA28 and deliver a safe and successful Games.”

Big Ten volleyball ⬆ The first Big Ten women’s volleyball tournament will take place in fall 2026 at the Fishers Event Center in Fishers, Indiana. The conference’s top 15 teams will compete for an automatic qualifying spot in the NCAA tournament. In 2025, the SEC revived its conference volleyball tournament after a 20-year hiatus. Neither the Big 12 nor the ACC has a conference tournament.

Lionel Messi ⬇ The Argentine soccer star and the Argentine Football Association were sued by Vid Music Group, a Miami-based event organizer, because he missed an exhibition match with Argentina against Venezuela last October. The lawsuit claims Vid signed a deal with AFA that required Messi to compete for at least 30 minutes in Argentina’s October exhibitions against Venezuela and Puerto Rico.