The Saudi sovereign wealth fund, the Public Investment Fund (PIF), will end its financial backing of LIV Golf after the 2024 season, according to multiple reports. The decision casts serious doubt on the tour’s future, just four years after its launch as a well-funded competitor to the PGA Tour.
Key Details and Timeline
LIV Golf plans to notify players and staff by Thursday that the PIF will no longer fund the tour after this season, The Wall Street Journal first reported on Wednesday. CNBC also confirmed that the PIF is withdrawing its financial support. Representatives for both the PIF and LIV Golf did not immediately respond to requests for comment.
Why This Matters
The PIF’s decision follows weeks of speculation about its new 2030 investment strategy, which emphasizes sustained value creation and improving investment efficiency. The move raises immediate concerns about the future of LIV Golf’s top players, including major champion Bryson DeChambeau, one of the sport’s most recognizable athletes.
State of Play: LIV Golf’s Challenges
LIV Golf attracted top PGA Tour players with guaranteed salaries and substantial prize money, yet it has struggled to build a significant television audience or a dedicated fan base. Addressing recent rumors about the PIF’s withdrawal and the tour’s potential collapse, LIV Golf CEO Scott O’Neil stated earlier this month that the tour would “work like crazy to create a business plan to keep us going.”
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