LIV Golf shares update about future plans after revealing big financial losses
LIV Golf has shared some news about its future after it was confirmed that Saudi Arabia will stop funding the league at the end of the season.
On Thursday, reports came out that Saudi Arabia will pull its multi-million-pound support after just five years since LIV Golf started. Yasir Al-Rumayyan, a co-founder of LIV and chairman of Newcastle United, is also expected to step down from his role in LIV.
Sky Sports says LIV has been talking with all 13 team captains, including Bryson DeChambeau and Jon Rahm, about what’s next. Earlier this week, the league postponed its New Orleans event, which was supposed to happen in June, and the next event is likely at Trump Bedminster in early August.
In a statement, LIV said it’s working to find new long-term financial partners to keep the league going after the Saudi funding ends. There are also rumors that some players have reached out to the PGA Tour about possibly returning, and Golf Digest reports that the PGA Tour would welcome them back.
The statement also mentioned plans to bring in new board members as LIV moves from its initial phase to a model with multiple partners. Gene Davis and Jon Zinman, experts with experience in handling big challenges, have been appointed to help lead this next chapter for the league.
Davis shared that LIV Golf has created something special—a global league with passionate fans, top talent, and strong business growth. He said the leadership team is excited to help the league build a solid structure, attract long-term investment, and grow the game worldwide.
The statement didn’t comment on the news about Al-Rumayyan stepping down. However, he will be attending a two-day meeting in Tyneside about Newcastle United. Newcastle is still part of the Public Investment Fund’s portfolio, despite rumors they might sell the club.
Saudi Arabia’s Public Investment Fund (PIF) owns about 85% of Newcastle, having bought the club for around £305 million in 2021.