The multi-billion dollar disruption of professional golf appears to be over as Saudi Arabia's Public Investment Fund prepares to cut off all funding for the breakaway LIV Golf league.
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LIV Golf Collapse Looms as Saudi PIF Halts $6 Billion Funding
The multi-billion dollar disruption of professional golf appears to be over as Saudi Arabia's Public Investment Fund prepares to cut off all funding for the breakaway LIV Golf league.
Saudi Arabia's Public Investment Fund (PIF) is preparing to end its financing for LIV Golf, signaling the collapse of the controversial league that has spent more than $6 billion in a failed attempt to reshape professional golf since 2021.
"I have not heard anything," golfer Sergio Garcia said ahead of a tournament in Mexico City, according to The Athletic. Garcia added that players were told at the beginning of the year that LIV was "a project of many years."
The potential shutdown follows a period of extreme financial strain, with LIV's UK-based entity alone losing a reported $590.1 million in 2024. The league failed to secure significant media rights revenue and saw key players like five-time major champion Brooks Koepka exit the circuit in January 2026 to return to the PGA Tour.
At stake are contracts worth hundreds of millions for players like Jon Rahm and Bryson DeChambeau, and the very structure of professional golf. The league's dissolution would end the sport's civil war, solidifying the PGA Tour's dominance and forcing a difficult reintegration process for former LIV players.
A Merger That Never Was
The beginning of the end may have been the league's own stunning announcement in June 2023 of a proposed merger with its rival, the PGA Tour. That framework agreement, which shocked the sports world, aimed to combine the PIF's golf-related businesses with the PGA Tour and DP World Tour into a new for-profit entity. However, few details emerged in the following months, and the deal failed to materialize, leaving the golf world in a state of limbo. This week, reports from The Telegraph noted that LIV executives were called to an emergency meeting in New York, further fueling speculation of an imminent collapse.
Financials Drive Strategic Pivot
From its inception in June 2022, LIV Golf operated on a seemingly limitless budget, poaching established stars from the PGA Tour with massive guaranteed contracts. However, the league failed to generate significant interest, particularly in the U.S. market. Its team-based format, with names like "Crushers" and "RangeGoats," was often ridiculed and failed to build a loyal following or secure the lucrative media rights deals necessary for a sustainable business model.
The financial model proved unsustainable. According to a report from OutKick, LIV's net spending averaged $100 million per month through 2024 and 2025. The PIF’s new five-year strategy, announced Wednesday, signaled a shift in priorities with no mention of continued support for the golf league, focusing instead on domestic ecosystems and maximizing long-term returns for Saudi Arabia.
This article is for informational purposes only and does not constitute investment advice.
[1] LIV Golf's end may be imminent as report signals Saudi Arabia is preparing to cut off funding - Fox News[2] LIV Golf’s future in question as Saudi Arabian backers consider pulling funding: Sources - The New York Times[3] Report: Saudi Arabia PIF ‘on the verge’ of cutting financial support for LIV Golf - Golf Channel
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