Saudi Arabia’s Public Investment Fund reportedly spent nearly $6 billion on LIV Golf over the past four years, helping the league sign several of golf’s biggest stars to big contracts. But with the PIF now set to end its financial backing after the 2026 season, uncertainty has started to grow around LIV Golf’s future.

The Wall Street Journal reported Wednesday that LIV executives had already been informed about the decision, while players and staff were notified a day later.

PIF confirmed the decision through a spokesperson, stating that the investment required by LIV Golf "over a longer term is no longer consistent with the current phase of PIF's investment strategy."

LIV CEO Scott O'Neil had spent weeks pushing back against collapse rumors. Earlier this month, he emailed staff directly. "I want to be crystal clear, our season continues exactly as planned, uninterrupted and at full throttle," O'Neil wrote. "We have faced headwinds since the jump, and we've answered every time with resilience and grace."

Sports Business Journal reports that PIF chairman Yasir Al-Rumayyan is stepping away from LIV Golf nearly five years after launching the league with Greg Norman.

LIV reportedly lost nearly $600 million outside the U.S. in 2024, while its proposed PGA Tour deal failed to move forward. TV ratings also remained underwhelming, and the league struggled to bring in many new top players.

The league has also canceled its June event in New Orleans, leaving the 2026 season with only seven events remaining.

PGA Tour Door Cracked Open, But the Price of Re-Entry Is High

The big question now is what will happen to the players affected by LIV’s collapse. PGA Tour CEO Brian Rolapp maintained his hardline stance.

"There were rules, and they were broken," Rolapp told the Wall Street Journal. "With rules comes accountability."

He added, "I don't necessarily have scar tissue, but there are plenty of people around our tour who do. It has to be accounted for in some shape or form. We're interested in having the best players who can help our tour. Not every player can do that."

Golf Digest reports that Bryson DeChambeau, Jon Rahm, and Cameron Smith are unlikely to receive the same Returning Member Program path Brooks Koepka used earlier this year. "The situation is different now," a PGA source told Golf Digest.

The 11 players involved in the suit against the Tour, including DeChambeau and Phil Mickelson, face an even tougher path back. According to Golf Digest, lingering resentment toward Rahm within the PGA Tour could push him toward a full-time move to the DP World Tour instead.

DeChambeau believes LIV "underdelivered on its initial vision," according to Golf Digest.

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Written by

Sneha Abraham

Edited by

Pulkit Prabhav