Where does LIV Golf go from here?

So Saudi Arabia’s Public Investment Fund has confirmed that it will be pulling the plug on LIV Golf at the end of 2026.

LIV insists that this is not the end and that it now has the opportunity to pursue other funding opportunities. They are surely having a laugh!

When it was launched in 2022 LIV made it clear that it wanted to shake up the world of professional golf. It certainly did that.

Depending upon who you believe, it has lost anything between $1bn and $5bn after pumping around £7bn into the sport. And the Saudis have decided that enough is enough. 

Despite attracting huge crowds in Adelaide and South Africa, they failed to get the lucrative TV and sponsorship deals that might have made the difference.

The PIF has now confirmed that it will withdraw its support after this current season: "PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season. The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF’s investment strategy."

Not mentioning PIF, LIV Golf itself released a statement that revealed the creation of "a newly established independent board led by Gene Davis and Jon Zinman" that has been tasked with "securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model."

So what happens now? The likes of Jon Rahm still has more than two years to run on his contract. Presumably, that deal was signed on the basis of $4m first-place prize money. You can be certain of one thing - if LIV chief executive Scott O’Neil is able to attract new sponsors they will definitely not be paying the sort of eyewatering sums these guys have been used to playing for. 

And that will surely open the door for each and every one of them to walk away.

Rumours that PIF would pull its financial backing had been circulating for weeks and O'Neil confirmed as much when he said that the league was fully funded until the end of the year, adding: "We will work like crazy to keep it going. 

"LIV Golf is in the best shape it’s ever been in its history, period, end of sentence. The reality is you’re funded through the season and then you work like crazy to create a business plan to keep us going," O’Neil said. "But that’s not different from any other private equity-funded business in the history of mankind."

Earlier this year, five-time major champion Brooks Koepka opted to return to the PGA Tour, and past Masters champion Patrick Reed also chose to leave LIV and focus on the DP World Tour with hopes of earning a promotion back to the PGA Tour next season. It has also been widely reported that LIV’s star attraction, Bryson DeChambeau was seeking a $500m deal to extend his LIV contract - you can be absolutely certain that will definitely not be happening.

It also looks like PIF governor Yasir Al-Rumayyan is stepping down from LIV's board. He has been the driving force.

LIV has already had to postpone its June tournament in New Orleans. Its next event is scheduled to be played at Trump National Golf Club in Washington, D.C, next week, from May 7-10.

There are LIV tournaments due to take place in South Korea, Spain and England this summer.

It will now be fascinating to see what happens during the weeks and months ahead.