The Future of LIV Golf and Saudi Arabia’s Sports Investments

Saudi Arabia’s Public Investment Fund (PIF) is preparing to withdraw financial support from LIV Golf, according to multiple reports, raising serious questions about the future of the breakaway golf circuit launched in 2022.

The potential end of Saudi backing comes after years of significant investment by the PIF in LIV Golf, which was created to challenge the PGA Tour and DP World Tour. Despite billions of dollars spent, the league has operated as a major financial loss leader, with reports indicating net spending averaged $100 million per month in 2024 and 2025.

The PIF recently unveiled a new five-year investment strategy that reprioritizes spending, with hundreds of millions more dollars allocated elsewhere and no clear commitment to continued LIV Golf funding. An announcement regarding the fund’s involvement — or lack thereof — with LIV Golf could come as early as Thursday, April 17, 2026, according to industry sources cited by Fox News and The Athletic.

If the PIF withdraws support, LIV Golf’s immediate future would be uncertain, with no clear path forward for how or if the league will continue to operate. The breakaway circuit currently relies entirely on Saudi funding, and no alternative financial model has been publicly disclosed or verified.

The consequences for professional golf could be significant, particularly for players who joined LIV Golf under lucrative contracts. While some high-profile athletes like Brooks Koepka and Bryson DeChambeau have previously rejoined the PGA Tour through a “Returning Member Program,” that initiative is not currently open to others. PGA Tour CEO Brian Rolapp has stated he would consider similar offers for LIV players if the league folds, but emphasized that decisions would depend on clarity around each player’s situation.

Patrick Reed is set to rejoin the PGA Tour as early as August 2026, following a one-year ban from his most recent LIV start — a timeline that may apply to other LIV players seeking to return to the PGA Tour if the league dissolves. However, Rolapp noted that circumstances vary by individual and that no blanket policy has been established.

Beyond golf, the PIF’s potential retreat from LIV Golf raises broader questions about Saudi Arabia’s sports investment strategy. The fund has backed various global sports ventures, including ownership stakes in football clubs like Al Hilal and investments in the Saudi Pro League, but its recent strategy release did not mention “sports” directly — an omission noted by industry observers as potentially significant.

Despite the uncertainty, a source familiar with the PIF’s thinking told The Athletic that the fund remains “fully committed to sports” suggesting that while LIV Golf may be reevaluated, other sporting interests could continue. Nevertheless, the high visibility and financial scale of LIV Golf have made it a focal point for assessing the kingdom’s long-term approach to sports investing.

As of April 16, 2026, LIV Golf continues to operate and maintain its public stance of “business as usual,” even as reports indicate behind-the-scenes preparations for a possible funding withdrawal. No official statement has been issued by the PIF or LIV Golf leadership confirming an end to support, but multiple reputable outlets have reported that an announcement is imminent.