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Saudi Arabia’s Public Investment Fund pulls the plug on its LIV Golf financing.
The Wall Street Journal reported Wednesday that after weeks of speculation, LIV Golf will tell its players by Thursday that the Saudis will no longer fund the league, founded by Greg Norman, after this season.
LIV Golf CEO Scott O’Neil all but confirmed the earlier reports this month.
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LIV Golf faces potential funding problems after being denied official World Golf Ranking points, a development that could frustrate players.
“The reality is you’re funded through the season and then you’re working like crazy as a business to create a business and a business plan to keep us going. But it’s no different than any other private equity-funded business in human history,” O’Neil said ahead of the golf tour’s event in Mexico City.
O’Neil reportedly emailed his staff amid initial reports that the season would go “exactly as planned, uninterrupted and full throttle,” but plans apparently changed and LIV announced its June tournament in New Orleans was postponed with a date to be determined.
O’Neil said the prospect of a new business plan “excited” him.
Scott O’Neil attends a press conference in Johannesburg to announce the return of LIV Golf in 2027 on 22 March 2026. (Johan Rynners/Getty Images)
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I talked about some structural changes – they are coming. You can just ask the 50 people I met at Augusta, I rolled out the plan. We have one, it might surprise some people…” he said.
“This notion of, ‘are you going to raise money?’ Probably. This is business. But if we keep the course running as we are and the revenue growth continues, this will be a very good business for a very long time.”
LIV started in 2022 and has produced two major winners in Brooks Koepka, who has since joined the PGA Tour, at the 2023 PGA Championship, and Bryson DeChambeau at the 2024 US Open.
LIV Golf switched from its 54-hole format, a draw for golfers who defected from the PGA Tour, to 72 at the beginning of this season. Patrick Reed is too set to join the PGA Tour again.
Scott O’Neil during day four of LIV Golf South Africa at The Club at Steyn City in Johannesburg on 22 March 2026. (Johan Rynners/Getty Images)
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DeChambeau and Jon Rahm’s contracts are both speculated to expire after this season, leaving their golf futures up in the air.
LIV Golf did not immediately respond to a request for comment from Pakinomist Digital.
