LIV Golf CEO shares that Saudi funding will stop in August in a big update on the shutdown
LIV Golf CEO Scott O’Neil has shared that the Saudi-backed league’s funding is only guaranteed through the end of this season, raising questions about its future.
Less than five years after LIV Golf was first announced, the league, seen as a rival to the PGA Tour, now seems like it might face serious challenges. Recent reports say the league’s leaders could soon make a big announcement, as Saudi Arabia’s Public Investment Fund (PIF) might stop supporting it.
O’Neil responded by saying the current season will go on as planned but didn’t say much about what happens after. Now, speaking at an event in Mexico City, he seemed to confirm that funding from Saudi Arabia will likely only last through the 2026 season. He told TNT Sports, “You’re funded through the season, and then you work hard to build a business plan to keep going. That’s how private-funded businesses usually operate.”
This came as a surprise because just last month, PIF’s governor Yasir Al-Rumayyan had promised support through at least 2032. However, after the first news about LIV Golf’s future came out, he said some investments were being re-evaluated because of the war in the Middle East and economic reasons. He also acknowledged that the conflict is forcing the fund to rethink its priorities.
Despite all this, many of the players don’t seem too worried. Jon Rahm, after his first round in Mexico City, said he isn’t letting the rumors bother him. “I didn’t want to waste time thinking about it until the people in charge said something,” he explained. “It all happened so fast, and usually, we’d hear things before rumors start. Since that didn’t happen, I wasn’t too concerned.”
If LIV Golf does close down, it’s not clear what will happen to the 57 players currently on the tour. But some of the top players might still find a spot in the PGA Tour.