The Saudi Arabian Public Investment Fund has delivered just one-third of the funding that LIV Golf requires to complete its remaining 2026 season schedule, according to a Thursday report from the Financial Times.
The golf circuit needs $600 million to finish out the 2026 calendar, the report states. The fund provided $66 million in early May followed by $130 million in early June, according to the reporting.
When asked to respond to the Financial Times’ findings, the fund chose not to elaborate beyond referencing its April statement that “the substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF’s investment strategy.”
The financial powerhouse behind LIV’s lucrative player deals and tournament prize pools, the fund revealed in April it would only continue supporting LIV through the 2026 season. The organization has invested approximately $6 billion in the league to date.
During a Tuesday CNBC interview, LIV Golf CEO Scott O’Neil expressed confidence that the fund would honor its commitment to finance the league through the current year.
“I can say they’ve been terrific partners so far, and you have to take an incredible organization like PIF at their word,” O’Neil stated. “They’ve been very public about funding us through the season, so we are full steam ahead.”
O’Neil faced questions about recent speculation that LIV’s remaining four tournaments this season might face cancellation as the fund considers withdrawing support earlier than expected. LIV Golf Louisiana, originally slated for late June, was delayed shortly after news emerged about the fund’s planned exit.
As the fund distances itself and its governor Yasir Al-Rumayyan resigns from his role as LIV Golf’s chairman, the league has started courting potential new backers, reportedly pursuing $250-350 million in investment funding to launch a “LIV 2.0” strategy.
When directly questioned about whether he could promise the four remaining events in England, New Jersey, Indianapolis and Michigan would proceed as scheduled this summer, O’Neil, a veteran sports industry leader in his second year leading LIV, offered an indirect response.
“What I can guarantee is a heck of a return if you come invest in this business,” O’Neil answered.
LIV is currently in a 47-day hiatus to allow for the U.S. Open and The Open Championship, and the league might emerge transformed or not at all following this break, Front Office Sports reported earlier this week. The tour is scheduled to resume with LIV Golf UK from July 23-26.
“Every remaining tournament is on the fence,” a representative from one of LIV’s partner organizations told the publication.
“I truly don’t think anyone knows,” the representative added. “LIV Golf doesn’t know if or when the PIF will shut off the spigot.”
LIV is attempting to survive until 2026 and restart operations next year without Saudi financial backing. The organization is presenting proposals to prospective investors while working with an investment banking consultant. It’s also cutting costs wherever feasible and developing strategies to reduce tournament prize money.
