Saudi Arabia's Public Investment Fund set to cut funding for LIV Golf

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is reported to be on the verge of cutting its financial support for LIV Golf, putting the breakaway tour’s future in doubt. The Financial Times, in a report by Samuel Agini, Arash Massoudi and Sujeet Indap, said a decision on the kingdom’s backing could come as early as Thursday. The PIF has already spent a reported $5 billion (U.S.) on the league since its debut in June 2022.

“Of course the war would add more pressure to reposition some priorities,” Yasir al‑Rumayyan, a senior PIF official who was instrumental in launching LIV, told the Financial Times as the fund outlined a tighter five‑year investment strategy.

Those comments came as the PIF moves to reallocate capital and narrow where it spends, a shift that follows large past allocations to global sporting assets including Formula 1 races, tennis and European soccer. The FT report framed the potential withdrawal as part of a broader repositioning of PIF commitments amid geopolitical pressures and a new strategic review.

Immediate implications and unanswered questions

An abrupt end to PIF support would have multiple knock‑on effects. LIV operates under an awkward U.S. television arrangement with Fox and has struggled to fully penetrate the U.S. market despite gaining traction internationally. The league currently lists 57 players on its roster, including Canadian Richard T. Lee, who joined this year.

• Player contracts and payments: It is unclear how a shutdown would affect high‑value contracts for stars such as Jon Rahm and Bryson DeChambeau, and whether they would be paid in full.
• Return to established tours: Questions remain over whether and on what terms LIV players could rejoin the PGA Tour or the DP World Tour. Earlier returns by former LIV players Brooks Koepka and Patrick Reed involved fines and restrictions before they were allowed back to PGA competition.
• Competition access and rankings: Major championships—organised independently of the PGA Tour—have begun to make limited provisions for LIV players, and the league has only recently started to receive Official World Golf Ranking points after extending events from three rounds to four.

Context and current state

The report emerged as LIV prepared for an event in Mexico City, with players reportedly unaware of the potential funding decision and preparing to play the first round. LIV launched in June 2022 with major financial backing from the PIF and significant publicity; the fund’s reported $5 billion investment has been central to LIV’s ability to recruit top players and stage international events.

Outlook

If the PIF terminates or reduces funding, the league faces an uncertain future. Beyond immediate contractual and competition questions, the move would mark a reputational setback for Yasir al‑Rumayyan and reshape the landscape created since LIV’s founding. For now, players, organisers and rival tours await confirmation of the PIF’s decision and its implications for events, contracts and the wider professional golf calendar.