LIV Golf in process of telling players and staff that Saudi PIF has withdrawn funding

LIV Golf bosses are reportedly in the process of informing players and staff that its primary source of funding — the Saudi Public Investment Fund (PIF) — will be withdrawn at the end of the current season, according to a report by the Wall Street Journal on Wednesday night.

After weeks of rumours, the latest development represents a seismic moment for the breakaway league, which launched in the summer of 2022 with ambitions of challenging the PGA Tour as golf’s dominant global platform. 

Backed by vast financial resources from Saudi Arabia’s sovereign wealth fund, LIV Golf has attracted many of the sport’s biggest names, none bigger than Jon Rahm and Bryson DeChambeau with record-breaking contracts and huge tournament prize purses. 

It's estimated the PIF has invested in the region of $5 billion into the league over the last five years. 

But sources cited by the Wall Street Journal indicate that league officials are now in the process of communicating the impending funding withdrawal internally. 

GolfMagic understands from an unnamed source with knowledge of the situation that formal statements are expected on Thursday. 

The PIF, chaired by Saudi Crown Prince Mohammed bin Salman, has been the cornerstone of LIV Golf’s financial model since its inception, initially committing around $400 million to establish the league. 

But the PIF's exit now raises serious questions about LIV’s long-term viability.

LIV Golf is now in the process of trying to find a new investor in order to take the league forwards into 2027 and beyond. 

The reported decision to pull LIV funding comes amid wider economic pressures facing Saudi Arabia. 

Ongoing geopolitical tensions, including conflict involving the United States and Iran, have impacted global oil markets — central to the kingdom’s revenues. 

Disruptions to key infrastructure and shipping routes, such as the Strait of Hormuz, have further compounded financial uncertainty.

In response, the PIF is understood to be reassessing its global investment portfolio.

Speculation around LIV Golf’s future has intensified in recent weeks. 

Earlier this week, a scheduled June event in Louisiana was postponed until later in the fall, with organisers citing extreme summer heat and scheduling conflicts with the World Cup. 

However, the timing of the decision added to growing uncertainty.

Despite the concerns, LIV executives have maintained a confident public stance. 

The league claims it is experiencing significant commercial growth in 2026, reporting revenues up by $100 million compared to projections. 

Sponsorship and merchandise income have increased year-on-year, while ticket sales are said to have surged by 129%.

In a recent memo to players and staff, LIV Golf CEO Scott O’Neil insisted the organisation remains strong, stating: “We are heading into the heart of our 2026 schedule with the full energy of an organisation that is bigger, louder, and more influential than ever before.”

The official withdrawal of Saudi money is set to mark a critical turning point for LIV Golf, casting serious doubt over the future of one of the most disruptive ventures in modern professional sport.

The league’s next event is scheduled to begin on Thursday 7 May at Trump National Golf Club in Washington, DC.