The Public Investment Fund (PIF) have announced that they will only fund LIV Golf for the remainder of the 2026 season before removing their investment in the controversial golf tour.
The PIF is Saudi Arabia’s sovereign wealth fund and has financed LIV Golf since it’s creation four years ago but, on Thursday, it confirmed weeks of rumours that it would be withdrawing its funding of the tour at the end of the current season.
LIV Golf earlier released a statement of their own confirming the appointment of an independent board led by investment bankers Gene Davis and Jon Zinman who will seek to find new investors for the future of the tour.
PIF governor Yasir Al-Rumayyan has also stepped down as LIV Golf’s chairman.
The PIF statement reads: “PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season. 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.”
LIV Golf told players and staff on Thursday that PIF would be withdrawing its funding and that the futures of star players, such as major winners Bryson DeChambeau and Jon Rahm, would be dependent on securing new investment.
Around $5bn have been spent by the PIF to make LIV Golf a success with big prize money pots and nine-figure bonus fees of offer to lure the best players away from the PGA Tour.
The league was run by Al-Rumayyan, and two-time major winner Greg Norman, who operated as CEO until his departure in 2025, with Scott O’Neil replacing him.
