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LIV Golf Facing Imminent Closure as Saudi Backers Weigh Pulling Funding
Scott O'Neil said the 2026 season will continue as planned as reports said Saudi backers may be considering cutting support after spending more than $5 billion.
- On Wednesday, multiple financial outlets reported that Saudi Arabia's Public Investment Fund is on the verge of withdrawing financial support from LIV Golf, with an announcement potentially coming as soon as Thursday.
- Saudi officials unveiled a new five-year investment strategy Wednesday prioritizing 'increasing investment efficiency' and 'sustainable value,' signaling a shift away from high-spending projects like LIV Golf amid mounting costs for the World Expo and World Cup.
- LIV Golf CEO Scott O'Neil issued an internal memo Wednesday assuring staff the 2026 season continues 'exactly as planned, uninterrupted and at full throttle,' describing such moments as typical for a 'startup movement.'
- Players appear largely in the dark; LIV star Sergio Garcia told reporters in Mexico City on Wednesday that the team has 'not heard anything' regarding the league's future since the beginning of the year.
- The PIF has invested over $5 billion into LIV Golf since its 2022 launch, yet the circuit has struggled with media rights deals and profitability, compounded by departures of five-time major winner Brooks Koepka and former Masters champion Patrick Reed.
119 Articles
119 Articles
LIV Golf: on course for collapse?
“Our season continues exactly as planned, uninterrupted and at full throttle,” wrote LIV Golf’s chief executive, Scott O’Neil, in an email to staff on Wednesday night, hours after an emergency meeting in New York over a “seismic” funding announcement. “But what about beyond this season?” said The Telegraph. O’Neil’s email was an “attempt to calm ferocious speculation” that the Kingdom of Saudi Arabia’s Public Investment Fund (PIF) is “pulling th…
LIV Golf chief: Tour will continue despite Saudi funding doubts
LIV Golf CEO Scott O'Neil sought to quell speculation about the league's financial future Wednesday evening with a memo to his staff that said the 2026 season will continue as planned without interruption and "at full throttle". The memo, a copy of which was sent to The Associated Press, followed a long day of reports suggesting Saudi Arabia's sovereign wealth fund was on the verge of cutting its financial backing of the upstart league. The news…
After four years, £4bn and a pointless civil war, LIV Golf achieved only one thing
Saudi Arabia is set to pull the plug on its eye-wateringly expensive venture at the end of the current season, writes Lawrence Ostlere, bringing to an end one of golf’s most turbulent sagas
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