LIV Golf future in doubt after Saudis pull funding

Chilean golfer tees off at LIV Golf tournament in 2025 Saudi Arabia — Chilean golfer tees off at LIV Golf tournament in Saudi Arabia in 2025

(Image credit: Fayez Nureldine / AFP via Getty Images)

What happened

LIV Golf, the PGA Tour rival launched in 2021 with financial backing from Saudi Arabia’s Public Investment Fund, will lose that funding at the end of this season, The Wall Street Journal and other news organizations reported Wednesday. Yasir Al-Rumayyan, the governor of the Saudi PIF, is stepping down as LIV chair, according to the Sports Business Journal.

LIV Golf “will announce details of its strategic path forward” on Thursday, including new leadership and “a push to secure new, long-term financial partners,” CNBC said. LIV chief executive Scott O’Neil told TNT two weeks ago that if PIF funding ended, he would “work like crazy to create a business plan to keep us going.” But most likely, the Saudi withdrawal “sounds the death knell for the upstart that sowed chaos in professional golf,” the Journal said. It will be “nearly impossible” for LIV to carry on in “any resemblance to its current form after the Saudis lost billions on the endeavor.”

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.