BY SANDHYA DISSANAYAKE, ATTORNEY-AT-LAW
The long-term viability of LIV Golf has been cast into serious doubt following revelations that the Public Investment Fund (PIF) intends to withdraw its multi-billion dollar financial support at the conclusion of the season.
Sources indicate that the breakaway tour is preparing to announce a comprehensive “new strategic plan,” aimed at attracting alternative investors and reshaping its operational model. The forthcoming announcement is also expected to introduce a revamped governance structure, including the appointment of new board members, as LIV seeks to stabilise its leadership and direction.
A pivotal development in this transition could be the departure of Yasir Al-Rumayyan from the board. As PIF governor and co-founder of LIV Golf in 2021, Al-Rumayyan has been the central architect of the tour’s ambitious expansion and financial backing.
Recent scheduling disruptions have further underscored the uncertainty surrounding the league. LIV Golf has postponed its June event in New Orleans, leaving a significant gap in its United States calendar from May 10 until August 6, when play is scheduled to resume at Trump Bedminster in New Jersey.
Despite these challenges, insiders maintain that LIV Golf remains committed to its vision as a global tour with a distinctive team-based format. Discussions with potential investors are described as “constructive,” while executives continue to explore multiple strategies to reposition the business within an evolving sports marketplace.
Financial projections suggest that LIV Golf could generate approximately $100 million more in revenue in 2026 compared to the previous season. However, officials concede that a considerable downsizing is inevitable, with expectations of a reduced tournament schedule and a more streamlined operational footprint.
Team captains have reportedly been briefed on the impending changes, with confirmation expected alongside the strategic announcement. The organisation has, however, declined to comment publicly on the developments.
Earlier this month, chief executive Scott O’Neil sought to reassure players, stating that the 2026 season would proceed “as planned and uninterrupted,” even as speculation intensified regarding the tour’s financial sustainability. His comments coincided with PIF’s broader shift toward prioritising more sustainable and diversified investments.
Since its inception, LIV Golf has been fuelled by unprecedented financial resources, attracting elite talent such as Jon Rahm, Bryson DeChambeau, Phil Mickelson, and Cameron Smith. Total investment has now exceeded $5 billion, including a fresh injection of $267 million earlier this year.
However, the financial toll has been substantial. Losses outside the United States climbed to $462 million in 2024, pushing cumulative deficits beyond $1.1 billion since the tour’s launch. With continued heavy expenditure in the US market, overall losses are projected to escalate into several billions.
As LIV Golf approaches a defining moment, its ability to secure new investment and recalibrate its business model will be critical in determining whether it can sustain its disruptive presence in professional golf or face a significant contraction in scale and influence.