Since its launch in 2022, Saudi Arabia’s Public Investment Fund, which has invested over $5 billion in LIV Golf, declared in April that such investments no longer align with its strategy.
The PIF’s decision to cease funding LIV Golf by the end of the 2026 season has left the organization searching for new financial backers and raised concerns about the future of prominent players on high-value contracts.
A report from Bloomberg News on Tuesday (May 19) noted that LIV Golf is considering various options, including attracting new investors, while preparing for the league’s potential downfall after the season concludes in August.
When asked for comments on the report, a LIV Golf representative refrained from confirmation, stating the league is focused on fostering a sustainable future and is exploring diverse avenues.
“Our leadership is dedicated to finding the right long-term strategic partners who support our goal of expanding the game of golf globally,” the spokesperson mentioned to Reuters. “These discussions are just beginning, and as they advance, we anticipate gaining more clarity regarding the structure and timing of a potential deal.”
LIV Golf CEO Scott O’Neil, in his first press conference since the PIF’s funding withdrawal announcement two weeks prior, noted that he has been approached by numerous potential investors.
“There’s a mix between private equity, family offices, and traditional high-net-worth individuals — you likely know the types who invest in sports and teams. That’s been very encouraging,” O’Neil stated.
“It’s still early days. We haven’t gone to market yet, nor finalized our business plan. We’re still in the exploratory phase. We have a solid understanding moving forward… we know our direction, and we’re just going to refine our approach.”
LIV has previously reported a 100% year-on-year revenue increase for the current season and believes the team-based golf model will attract significant investor interest.
By offering substantial contracts and lucrative prize money, LIV has secured several top players from the PGA Tour, including Bryson DeChambeau, Jon Rahm, Phil Mickelson, Dustin Johnson, Brooks Koepka, and Patrick Reed.
LIV Golf was founded in 2022 with the support of the PIF, and its critics have labeled it as an attempt by the nation to enhance its image following criticism of its human rights record.
The Saudi government refutes allegations of human rights violations.
