LIV Golf CEO confirms Saudi funding will end but says he has a plan that 'might surprise some people'

LIV Golf CEO Scott O'Neil confirmed reports that the Saudi Arabian Public Investment Fund (PIF) will stop providing financial support to the controversial golf league after the 2026 season, but told TNT Sports he has a contingency that "might surprise some people." O'Neil said the league is funded through this season and pledged that events will proceed "exactly as planned, uninterrupted, and full throttle," according to an internal memo obtained by Fox News Digital.

Direct quote

"The reality is you're funded through the season, and then you work like crazy as a business to create a business and a business plan to keep us going. But that's not different from any other private equity-funded business in the history of man," O'Neil told TNT Sports. He added during interviews around the tour's Mexico City stop: "We have one, it might surprise some people..."

Context and details

The Financial Times was first to report that the PIF—the sovereign wealth fund behind LIV Golf—will cease funding after the 2026 season, a development sources confirmed to Fox News. O'Neil addressed staff directly in the memo, pushing back on speculation and emphasizing operational continuity: "While the media landscape is often filled with speculation, our reality is defined by the work we do on the grass. We are heading into the heart of our 2026 schedule with the full energy of an organization that is bigger, louder, and more influential than ever before."

O'Neil framed LIV's challenge as typical of private-equity style ventures. He acknowledged the likelihood of future capital raises, saying "Do you have to raise money? Probably. This is business. But if we keep the trajectory going the way we are and the revenue growth going, this is going to be a really good business for a really long time."

The memo to employees leaned on start-up rhetoric: "The life of a startup movement is often defined by these moments of pressure. We signed up for this because we believe in disrupting the status quo. We have faced headwinds since the jump, and we’ve answered every time with resilience and grace. Now, we answer by doing what we do best: putting on the most compelling show in sports."

Background and recent developments

• LIV Golf launched in 2022 and has drawn high-profile defections from the PGA Tour. Its events have included major champions such as Brooks Koepka (2023 PGA Championship) and Bryson DeChambeau (2024 U.S. Open).
• The tour shifted from a 54-hole format to 72 holes beginning in the current season, a change aimed at aligning more closely with traditional professional golf.
• Notable figures associated with LIV's early years include Yasir Al-Rumayyan of the PIF, Greg Norman, and Majed Al Sorour of the Saudi Golf Federation.

Outlook

O'Neil said structural changes are coming and that he has detailed plans he has already discussed with contacts at Augusta and elsewhere. He urged staff and supporters to "embrace" the scrutiny and to focus on delivering events, closing his memo with a rallying cry: "Let’s go out and show the world why LIV Golf is the future of the game. It matters. You mattered. Now, let’s go win. Long LIV Golf."

As the 2026 season plays out, LIV Golf will face the dual tests of replacing a major backer and convincing sponsors, players and fans that it can sustain revenue growth. For now, O'Neil is betting that a combination of new structural moves and continued on-course product will keep the league viable beyond PIF's support.