PIF release statement after confirming LIV Golf funding exit past 2026 season

The Saudi Arabian sovereign wealth fund, the Public Investment Fund (PIF), has confirmed it will end its long-term financial backing of LIV Golf following the conclusion of the 2026 season.

The announcement brings clarity after weeks of speculation over the future of the breakaway tour, which has been funded exclusively by the PIF since its launch.

GolfMagic has been informed by sources with knowledge of LIV Golf’s operations that players and staff were told the fund was withdrawing its support “over the past two weeks,” signalling that internal communication had already taken place ahead of the public statement.

Since its inception in 2022, the PIF is understood to have invested approximately $5 billion into LIV Golf, covering player contracts, tournament operations and global expansion as the league sought to establish itself as an alternative structure within professional golf.

The decision also comes amid significant governance changes at LIV Golf. Earlier today, the league confirmed the appointment of an independent board led by investment bankers Gene Davis and Jon Zinman, as part of a wider shift towards a more traditional, diversified ownership model involving global institutional partners.

According to Sports Business Journal, PIF governor Yasir Al-Rumayyan has also stepped down as chairman of the LIV Golf board. 

Al-Rumayyan has played a central role in the creation and early development of the league alongside former CEO Greg Norman.

In its official statement, the PIF confirmed the timing and reasoning behind its decision. 

“PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season,” reads a statement from the Saudi Public Investment Fund.

“The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy.

“This decision has been made in light of PIF's investment priorities and current macro dynamics. The LIV Golf Board has created a committee of independent directors to evaluate strategic alternatives for its future beyond PIF's funding horizon.

“LIV Golf has substantially grown the game globally through its transformational and positive impact. It has forever changed the game of golf for the better.

“PIF remains committed to deploying capital internationally in line with its investment strategy, including its substantial current and future investments in various sports as a priority sector.”

The move marks a significant turning point for LIV Golf, which now enters a period of transition as it seeks to secure new investment partners and establish a more sustainable long-term financial structure beyond its original funding model.