Yasir Al-Rumayyan leaves LIV Golf chairman role amid funding uncertainty

Shockwaves are rippling through the golf world following news that Saudi Publc Investment Fund (PIF) Governor Yasir Al-Rumayyan has stepped down as chairman of the LIV Golf board.

The stunning update was provided by Sports Business Journal’s Josh Carpenter.

The latest development follows a report in the Wall Street Journal claiming league officials are in the process of telling players and staff that PIF funding will cease at the end of the 2026 LIV Golf League season. 

It means LIV Golf will now need to find a new investor in order to move forwards into the 2027 season and beyond. 

GolfMagic understands formal statements from both LIV and the PIF are expected on Thursday.

Al-Rumayyan’s exit as chairman of the LIV Golf board appears to be closely tied to a broader strategic shift. 

The PIF's decision to cease LIV funding at the end of this season 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.

While Al-Rumayyan has been one of LIV Golf’s most influential backers since its inception — helping launch the breakaway league alongside former CEO Greg Norman and championing its team-based, franchise model — his decision to step aside suggests a new phase for the organisation.

LIV is now expected to restructure its leadership and bring in additional board members as it actively seeks fresh investment to secure its long-term future.

An avid golfer himself, Al-Rumayyan has been deeply embedded in LIV’s journey from the beginning. 

He played a central role in key negotiations, including the much-discussed framework agreement with the PGA Tour in 2023. 

But that deal never came to fruition. 

Al-Rumayyan was also present at high-level talks in Washington in early 2025, when hopes were high that a deal between the rival tours could be finalised.

His tenure has not been short on bold statements either. 

At LIV’s launch in 2022, he famously pledged a $54 million bonus to any player who could shoot a score of 54 in competition — a reflection of the ambitious, headline-grabbing approach that defined the league’s early years.

Beyond golf, Al-Rumayyan remains a major figure in global sport and finance. 

He has chaired the PIF since 2015 and also oversees Premier League club Newcastle United, among other high-profile roles such as chairman of Saudi Aramco and Riyadh Air. 

Now, with PIF removing its financial backing of LIV Golf past this season, the league is at a critical crossroads. 

Since taking over as CEO in early 2025, Scott O’Neil has been vocal about efforts to attract outside investment. 

Speaking at The Masters earlier this month, he pointed to a reported $100 million increase in revenue for 2026, driven by new sponsorship deals with major brands such as HSBC and Salesforce.

Even so, the looming funding gap raises serious questions about the league’s sustainability beyond 2026, especially since the PIF has pumped an estimated $5 billion into LIV Golf from the outset in June 2022. 

The search for new LIV investors is already underway, but whether the league can secure the backing needed to continue its ambitious project into 2027 and beyond remains uncertain at this stage.

Formal statements from both LIV Golf and the PIF are expected shortly, which should provide further clarity on the situation. 

LIV Golf's next tournament takes place in a week's time in Virginia. 

No doubt further updates on the financial situation will be provided by O'Neil during the broadcast fo that tournament. 

The league suffered another blow earlier this week when having to postpone its inaugural Louisiana tournament from 25-28 June. 

It remains unknown if the event in New Orleans will ever take place, but both LIV and Louisiana State are looking at a possible rescheduled date in the fall. 

For now, however, Al-Rumayyan’s departure stands as a pivotal moment — one that is going to reshape or totally crush the league he helped build.