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Saudi Arabia to stop funding LIV Golf at end of season
Saudi Arabia to stop funding LIV Golf next season
Saudi Arabia will withdraw its multi-billion dollar backing of LIV Golf at the end of the season, plunging the future of the series into further doubt.
According to sources, the breakaway tour is set to announce on Thursday a "new strategic plan" in a bid to find replacement financial investors.
The breakaway tour will also confirm new independent board members as it tries to move forward with fresh leadership.
It comes amid reports that the Saudi Public Investment Fund (PIF) could confirm that its governor Yasir Al-Rumayyan is stepping down from LIV's board.
Al-Rumayyan co-founded LIV in 2021 and has been the tour's most powerful figure.
This week LIV postponed its June event in New Orleans, meaning it will not have any tournaments in the US between 10 May until 6 August, when it goes to Trump Bedminster in New Jersey.
However, LIV tournaments are due to take place in South Korea, Spain and Britain during this period.
BBC Sport has been told LIV remains hopeful of remaining an international tour with a team model, and that it is in "constructive" talks with potential investors. The series is said to be "totally up for sale".
Sources indicated that executives are exploring a number of opportunities to "reposition" the business. They said LIV Golf was on course to earn $100m (£86m) more in 2026 than last season.
But officials accept it is likely the series will have to be significantly scaled back, with far fewer than the current 14 events.
Team captains and staff have been told of LIV's plan to find new funding.
LIV declined to comment.
This month LIV Golf chief executive Scott O'Neil told players the 2026 season would continue "as planned and uninterrupted" amid rumours the tour was on the verge of collapse, although he did not address what might lie ahead.
It came as PIF - which also owns Premier League club Newcastle United - announced a new strategy, with a focus on more sustainable investments.
Major winners Jon Rahm, Bryson DeChambeau, Phil Mickelson and Cameron Smith are among the players who compete on the LIV tour.
The project, which pivoted to a more traditional 72-hole format this year, has been bankrolled by an eye-watering amount of money from PIF.
The overall investment surpassed $5bn (£3.8bn) when fresh capital of $267m (£229m) was injected this year.
The tour's net losses in markets outside the US increased to $462m (£340m) in 2024, meaning it had lost more than $1.1bn (£810m) since it was established in 2021.
But with vast amounts of money pumped into the US arm of the operation, overall losses look likely to run to several billion dollars.
In February, Rahm, Smith and DeChambeau turned down a one-time opportunity to apply for reinstatement to the PGA Tour under its 'Returning Member Programme', which was facilitated for those who had won a major - or The Players Championship - since 2022.
Five-time major winner Koepka was the only player to take up the offer and smoothed his return by paying fines said to be worth about £63m.
Amid reports that some LIV golfers have approached the PGA Tour and DP World Tour to explore possible returns, it remains unclear if the series' potential demise would see such a path reopened, and what terms might be issued.
LIV Golf Virginia at Trump National Golf Club just outside of Washington DC is scheduled to begin on 7 May.
PIF has been approached for comment.
Saudi Arabia hosts and invests in a number of sports, including football, boxing, Formula 1 and tennis.
Source: BBC
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