A major Saudi backer plans to end funding at season’s close. LIV is racing to secure new partners to keep the league’s schedule and growth plans intact.
LIV Golf plans a restructuring and a search for new investments after Saudi sponsors cease funding the league at the end of the season, a senior source familiar with the situation told CNN Sports.
On Thursday, LIV officially announced a new structure and its aim to attract new investors to support the transition from the initial launch phase to a multi-partner funding model.
“LIV Golf, a global golf league that combines world-class competition with entertainment and culture to promote the growth of the game worldwide, today announced new appointments to the board as the league focuses on securing long-term financial partners to support the transition from the initial launch phase to a diverse, multi-partner investment model,” LIV’s press release states.
The newly formed independent board, according to LIV, will be led by Gene Davis and Jon Zinman.
Funding and the League’s Future
The league is funded primarily by the PIF, Saudi Arabia’s sovereign wealth fund, led by Mohammed bin Salman – the Crown Prince of the country – whom an American intelligence report named as responsible for approving the operation that led to the 2018 murder of journalist Jamal Khashoggi. Bin Salman denied involvement in that killing.
CNN Sports has learned that over the past two weeks LIV has told players and staff that the PIF is withdrawing support at the end of the season.
The Wall Street Journal reported on Wednesday that funding could be withdrawn from the league as early as Thursday.
LIV could not confirm reports that Yasir Al-Rumayyan would step down from his post as part of the process.
Founded in 2022 with an initial investment of $400 million, LIV Golf aimed to compete with the PGA Tour by offering prize money of $250 million. The PGA Tour declined to comment on The Wall Street Journal’s report.
The government of Saudi Arabia is facing the economic consequences of the conflict between the United States and Iran and their impact on oil markets that significantly support the country’s budget. Saudi Arabia’s energy infrastructure has also come under attack from Iran, and the closing of the Strait of Hormuz has affected movement and the price of oil in the region.
Despite this, LIV remains busy growing its business: the organization reports revenue growth this year and last year, and sponsorship and merchandise sales have also risen. ESPN reports that several LIV players’ representatives have approached the PGA Tour to discuss returning to tournaments.
“We are entering the middle of our 2026 schedule with the full energy of an organization that is bigger, louder, and more influential than ever before.”
– Scott O’Neill
The next scheduled tournament is set for May 7 at Trump National Golf Club in Washington, D.C. CNN reporters Becky Anderson and Kevin Dotson also contributed to the story.
Further updates from LIV are expected soon as the organization weighs its options for the future and possible talks with potential partners. The league continues to adapt to the new financial reality and seek stability in the global golf market.