LIV Golf’s future in question as Saudi Arabian backers consider pulling funding: Sources
The future of LIV Golf is in question as leadership tries to find a path forward amid the prospect of the Saudi-backed Public Investment Fund pulling funding for the four-year-old rebel league.
This development, according to multiple golf industry sources, has created an environment in which high-level LIV Golf executives are in meetings about the league’s next steps while also beginning their own job searches.
Those sources, speaking to The Athletic on the condition of anonymity because they were not authorized to speak publicly, said that members of the leadership team were first told on Sunday, following the Masters Tournament, that they would soon lose their positions.
LIV is scheduled to play in Mexico City this week and, as of Wednesday, is moving forward with that tournament in a somewhat business-as-usual fashion. It canceled some news conferences and closed the tournament’s media center Tuesday, citing power outages, one of the sources said. Yet some LIV players spoke to media members Wednesday, and tournament officials released tee times as they would normally for any other event. Sergio Garcia said he had “not heard anything” and that players were told at the beginning of the year that LIV is “a project of many years.”
Industry sources have told The Athletic that the Public Investment Fund, the Saudi Arabian sovereign wealth fund that financed the upstart league, is preparing to pull its multibillion-dollar investment in LIV Golf. The Telegraph reported on Wednesday that executives were called to New York for a meeting.
LIV executives have since been seeking a “life raft” out of their positions, one of the industry sources said, as LIV desperately looks for a way to continue operations — whether that is without PIF investment or by negotiating a deal to move forward with a smaller budget.
CEO Scott O’Neil, a former Philadelphia 76ers and New Jersey Devils executive, has been at the forefront of those efforts to salvage some version of LIV. Having taken over in January 2025, O’Neill secured certain tent poles of legitimacy that LIV has long sought, including being awarded official world ranking points, extending tournaments to standard 72-hole formats, and creating more natural pathways for players to qualify for majors.
Billions in losses have created massive deficits, and with little evidence of impending profitability, the tour is in poor financial health. O’Neil told the Financial Times in February that the league was 5-10 years from turning a profit. LIV lost $590.1 million in its United Kingdom-based entity alone in 2024.
On Wednesday, the PIF announced its strategy for the next five years, signaling a shift in priorities. Mohammed bin Salman, the crown prince of Saudi Arabia and chairman of the PIF, approved a plan that will “focus on delivering competitive domestic ecosystems to connect sectors, unlock the full potential of strategic assets, maximize long-term returns, and continue to drive the economic transformation of Saudi Arabia and further enhance the quality of life of its citizens.” There was no mention of LIV in the news release. PIF representatives have not replied to multiple inquiries.
Members of LIV Golf’s communications team and executive leadership team have not responded to requests for comment since early Tuesday evening.
In New York on Wednesday, the LIV Golf offices at 50 Hudson Yards in Manhattan were open for business as usual as of 3:05 p.m. Employees walked in and out of the 65th-floor space sporting LIV Golf shirts and hats. One wall bordering the waiting area featured a bookshelf-like display with photographs of Bubba Watson, Jon Rahm and Dustin Johnson, in addition to a Front Office Sports plaque for the “Most Innovative Leagues” and a very large LIV Golf-branded tee statue. On the other wall, a large flatscreen TV showed LIV Golf highlights, including advertisements for the upcoming Mexico City event.
When asked if O’Neil or any executives were available to speak in person, a front-desk receptionist told The Athletic that the members of the C-Suite were not present in the building and were in Mexico. When asked if anyone in the offices was available to speak on behalf of the league, the same representative said, “We’re not giving any information to reporters right now.”
The Athletic was then asked to leave the offices.
