LIV Golf is no longer ‘fit’ with the investment strategy
The Saudi Arabia Public Investment Fund said on Thursday morning that it would no longer fund LIV Golf after the 2026 season, providing official confirmation following LIV Golf’s announcement hours earlier that it was focusing on finding long-term financial partners for its future.
LIV Golf’s announcement on Thursday did not mention whether the PIF would withdraw the funding, although it confirmed what has been rumored for weeks about a change in the Saudi PIF’s investment strategy. I The Wall Street Journal reported on Wednesday that LIV informed players and staff of the upcoming PIF departure this week; GOLF.com later confirmed the news.
On Wednesday, i Journal of Sports Business reports PIF governor Yasir Al-Rumayyan has stepped down from his position as chairman of the LIV board. In a press release Thursday, LIV Golf announced the new board members as it transitions from a “foundation phase to a diversified, multi-partner investment model.” Al-Rumayyan was not mentioned.
PIF’s statement was more blunt than the one issued by LIV.
“PIF has made the decision to finance LIV Golf only for the remainder of the 2026 season. The large investment required by LIV Golf in the long term is no longer compatible with the current phase of PIF’s investment strategy,” it read. “This decision has been made considering the priorities of PIF’s investment and current strengths.
“LIV Golf has greatly expanded the game around the world due to its innovations and positive impact,” it continued. “It has forever changed the game of golf for the better. The PIF remains committed to the global distribution of funds in line with its investment strategy, including its current and future major investments in multisport as a priority sector.”
The latest development at LIV Golf comes two weeks after reports surfaced of the league’s uncertain future. It was then that the PIF released the next phase of its strategy until 2030, in which there was no mention of LIV Golf, in which the Saudi PIF had invested more than 5 billion dollars since the announcement of the league in 2021.
