LIV Golf’s future in question as Saudi Arabian backers consider pulling funding: Sources - The Athletic

The future of LIV Golf is in doubt after industry sources told The Athletic that the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund that financed the breakaway league, is preparing to pull its multibillion-dollar investment. According to multiple people with knowledge of internal discussions, senior LIV executives were informed after the Masters that they would “soon lose their positions,” and leadership has been holding emergency meetings while some employees have begun searching for new roles. The reporting was carried by The Athletic and authored by Gabby Herzig, Brendan Quinn, Brody Miller and Adam Crafton.

"I have not heard anything," said Sergio Garcia when asked about the reports, adding that players had been told at the beginning of the year that LIV is "a project of many years."

Context and operational details

Sources speaking to The Athletic on the condition of anonymity said executives were summoned to New York and that some members of LIV’s leadership have been seeking a "life raft" — exploring options to continue operations either without PIF backing or on a dramatically reduced budget. LIV is scheduled to play in Mexico City this week and, as of Wednesday, was proceeding with the tournament: tee times were released and some players spoke to media. Still, the event saw disruptions, with several news conferences canceled and the tournament media center closed Tuesday, reportedly citing power outages.

• Leadership and staffing: Executives were reportedly told after the Masters that their roles could end, prompting job searches among senior staff.
• Financial strain: The league has posted steep losses. LIV's United Kingdom-based entity lost $590.1 million in 2024, and the league overall has been described as operating with “massive deficits” and little near-term path to profitability.
• CEO actions: Since taking over in January 2025, CEO Scott O’Neil has pushed changes intended to bolster legitimacy — securing official world ranking points, extending tournaments to the standard 72-hole format and creating clearer qualification paths for majors.
• Public Investment Fund: The PIF announced a new five-year strategy approved by Crown Prince Mohammed bin Salman that emphasizes building domestic ecosystems and maximizing long-term returns; the press release made no mention of LIV Golf.
• On-site signals: LIV's Manhattan offices at 50 Hudson Yards were observed open, with employees in LIV apparel and branded displays of players such as Bubba Watson, Jon Rahm and Dustin Johnson, though the C-suite was reported to be in Mexico and office staff declined to comment.

Outlook

With the PIF signaling a strategic shift and refusing to publicly address LIV in its new five-year plan, the league faces a precarious near-term outlook. CEO Scott O’Neil has acknowledged the long runway to profitability — telling the Financial Times in February that LIV was "5-10 years from turning a profit" — but the combination of multibillion-dollar capital exposure and consecutive large losses has left the league searching for alternatives. Sources told The Athletic that leadership is pursuing potential deals to sustain operations on a smaller budget and weighing options to continue without PIF funding, but the ultimate path forward remains uncertain as the Mexico City event proceeds under a cloud of instability.