Saudi Arabia’s Public Investment Fund said on Thursday morning that it will no longer finance LIV Golf beyond the 2026 season, giving official confirmation after LIV Golf announced hours earlier that it was focusing on securing long-term financial partners for her future.
LIV Golf’s announcement on Thursday did not mention the withdrawal of funds from the PIF, although it confirms what has been rumored for weeks about the change in the future investment strategy of the Saudi PIF. of Wall Street Journal reported On Wednesday LIV informed players and staff of the upcoming PIF departure this week; The news was later confirmed by GOLF.com.
on wednesday, Sports Business Journal reported PIF Governor Yasir Al-Rumayyan resigned from his post as LIV board chairman. In a press release Thursday, LIV Golf announced the new board members as it transitions from “the grassroots start-up phase to a diversified, multi-partner investment model.” Al-Rumayani was not mentioned.
PIF’s statement was more emphatic than the one issued by LIV.
“PIF has taken the decision to fund LIV Golf only for the remainder of the 2026 season. The significant investment required by LIV Golf for a longer term is no longer consistent with the current phase of PIF’s investment strategy,” it read. “This decision has been taken in light of the PIF’s investment priorities and current macro dynamics. The LIV Golf Board has established a committee of independent directors to evaluate strategic alternatives for its future beyond the PIF’s funding horizon.
“LIV Golf has significantly enhanced the game globally through its transformative and positive impact,” he continued. “It has forever changed the game of golf for the better. PIF remains committed to deploying capital internationally in line with its investment strategy, including its significant current and future investments in various sports as a priority sector.”
The latest development at LIV Golf comes two weeks after reports first surfaced the uncertain future of the league. It was also during that time that the PIF released the next phase of its strategy until 2030, which did not mention LIV Golf, in which the Saudi PIF had invested over $5 billion since the league was announced in 2021.
