LIV Golf is seeking new long-term investors amid speculation Saudi Arabia is set to end its financial backing of the breakaway circuit.
In a statement outlining its direction, the league said it is focusing on “securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model”.
The move comes after widespread reports that the Saudi Public Investment Fund (PIF), which has invested more than five billion US dollars into LIV since its launch, is preparing to step away after the 2026 season.
LIV did not refer directly to the PIF in its announcement but confirmed a change in structure, including the appointment of a new independent board led by Gene Davis and Jon Zinman.
There was also no mention of Yasir Al-Rumayyan, governor of PIF and co-founder of the LIV project, in the statement detailing the next steps forward.
The implications are that LIV will no longer be supported by a single major backer and Saudi involvement, at the very least, will be reduced.
The statement read: “LIV Golf today announced new board appointments as the league focuses on securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model.
“This strategic evolution, accelerated by the league’s record-breaking performance in 2026, includes the appointment of a newly-established independent board led by Gene Davis and Jon Zinman, seasoned experts with proven track records of navigating complex situations and unlocking value for global organisations, to guide the league through its next phase.”
The developments follow weeks of uncertainty around the league’s future. LIV this week postponed its upcoming event in New Orleans, adding to speculation over its long-term stability, although its recent tournament in Mexico went ahead as scheduled.
Since its launch, LIV has positioned itself as an alternative to the established tours, introducing team formats, shotgun starts and huge prize funds to attract leading players including Jon Rahm, Bryson DeChambeau, Brooks Koepka and Cameron Smith.
It has operated at huge losses but while there has been progress this year, with new broadcast agreements, official world ranking recognition and success in international markets, there is little prospect of significant profits in the short term.
A shift to 72-hole events has also been welcomed but concerns over financial sustainability, quality of the competition and player retention persist. Kopeka and Patrick Reed left this year to seek a return to the PGA Tour.
PIF’s withdrawal signals a potential shift in strategy for Saudi Arabia as it seeks to diversify its economy.
The fund has invested heavily in elite sport in recent years. It currently owns Newcastle United, has spent large sums on the Saudi Pro League and backed big events in boxing and Formula One, among other sports.
