LIV Golf Loses Saudi Funding After $5 Billion Investment, Seeks New Investors

LIV Golf said it was seeking to move to a "diversified, multi-partner investment model" after its Saudi Arabia backers opted to pull funding at the end of the 2026 season. The rumours of the past two weeks were confirmed on Thursday, with the league announcing a new board and strategic approach after the kingdom's Private Investment Fund stopped the support that has seen it pour US$5 billion into the tour since its inception in 2022. A new board that has Eugene Davis, of Pirinate Consulting Group as chairman, and includes Jon Zinman of the strategic advisory firm JZ Advisors, has been brought in to attract new investors and replace Yasir Al-Rumayyan, the PIF governor who was behind the creation of LIV and is no longer listed as its head. In a statement, LIV said it was moving from a "foundational launch phase" but the commitment to "world-class golf remains unchanged as this process unfolds". PIF said it had "made the decision to fund LIV Golf only for the remainder of the 2026 season" and that investing in LIV in the long term was "no longer consistent with the current phase" of its investment strategy. "LIV Golf has substantially grown the game globally through its transformational and positive impact. It has forever changed the game of golf for the better," the fund added.