The Saudi Arabian Public Investment Fund said Thursday morning it will no longer fund LIV Golf after the 2026 season, hours before LIV Golf announced it would provide official confirmation that it is focusing on Securing long-term financial partners For its future.
LIV Golf’s announcement on Thursday did not mention the PIF withdrawing its funding, although it confirms weeks of rumors about a change in the Saudi PIF’s future investment strategy. wall street journal informed On Wednesday LIV informed players and staff about PIF’s future departure this week; GOLF.com later confirmed the news.
Advertisement
on wednesday Sports Business Journal informed PIF Governor Yasser Al-Rumayyan resigned as chairman of the board of LIV. In a press release Thursday, LIV Golf announced new board members as it “transforms from a basic launch stage to a diversified, multi-partner investment model.” Al-Rumayyan was not mentioned.
PIF’s statement was more clear than the one issued by LIV.
It reads, “PIF has decided to fund LIV Golf only for the remainder of the 2026 season. The substantial investment required by LIV Golf in the long term is no longer in line with the current stage of PIF’s investment strategy.” “This decision has been made in light of PIF’s investment priorities and current macro dynamics. The LIV Golf Board has formed a committee of independent directors to evaluate strategic options for its future beyond PIF’s funding horizon.
“LIV Golf has significantly enhanced the game globally through its transformational and positive impact,” it continued. “This has changed the game of golf forever for the better. PIF is committed to deploying capital internationally in line with its investment strategy, which includes its substantial current and future investments across different sports as a priority area.”
Advertisement
The latest development into LIV Golf comes just two weeks after reports first emerged Uncertain future of the league. This was during the time when the PIF released the next phase of its strategy until 2030, which made no mention of LIV Golf, in which the Saudi PIF has invested more than $5 billion since the league was announced in 2021.
Post PIF statement: LIV is ‘no longer consistent’ with golf investment strategy first appeared on golf.
