The Saudi sovereign wealth fund is ending funding for LIV Golf after this season, according to multiple reports. The Public Investment Fund's decision places the lucrative golf tour in serious jeopardy of dissolving four years after it launched as a well-capitalized competitor to the PGA Tour.
LIV "plans to tell players and staff by Thursday" that the fund "will no longer bankroll the circuit after this season," the Wall Street Journal first reported Wednesday. CNBC also reported PIF is pulling LIV funding. Representatives of PIF and LIV did not immediately respond to requests for comment.
The move has been rumored for weeks after PIF revealed a new investment strategy through 2030 focused on "sustained value creation" and "raising the efficiency of investments." It raises immediate questions about the status of its leading players, including major winner Bryson DeChambeau, one of the game's most popular figures.
LIV lured a slew of PGA players with guaranteed salaries and massive prize pools, but the league hasn't generated a significant TV audience or fan following. The tour's business model — entirely dependent on Saudi backing — now faces an existential threat without that financial lifeline.