LIV Golf announces new strategic plans, intents and hopes for funding to continue operations

The fate of Jon Rahm and other LIV players is up in the air. (Hector Vivas/Getty Images)

(Hector Vivas via Getty Images)

LIV Golf is pivoting its operations in a bid for survival. The breakaway golf tour announced a series of strategic plans on Thursday morning designed to offset the impending loss of Saudi funding which had backed the tour since its inception.

A LIV Golf source with knowledge of the tour’s operations told Yahoo Sports that LIV is seeking long-term financial partners for the next stage of the tour’s development. The tour has sought to emphasize its continuing commitment to its players, tournaments and fans through what it’s deeming a “strategic transition.”

“LIV Golf has built something truly differentiated — a global league with passionate fans, world-class talent, and demonstrated commercial momentum,” Gene Davis, chairman of LIV’s newly-created Independent Directors Committee, said in a statement. He contended that there is “a clear opportunity to help the league formalize its structure, attract and secure long-term capital, and position the business for growth while continuing to promote the game across the world. We look forward to positioning LIV Golf for future success.”

Saudi Arabia’s Public Investment Fund has poured resources estimated at $5 billion into LIV over the past four-plus years, funding massive signing bonuses and purses, as well as lavish tournament operations. But as the PIF reassesses its own strategic priorities, funding for sports initiatives like LIV is drying up, leaving LIV scrambling to find funding alternatives.

The loss of Saudi funding signals the end of LIV in its current form, since it’s highly unlikely to envision a scenario where a collection of sponsors, investors, broadcast revenue and ticket sales make up for the loss of access to billions.

LIV officials have pointed to a number of positive metrics in an attempt to woo investors, contending that revenue is tracking $100 million over last season, with a lineup of sponsors including Rolex and HSBC. Both the South Africa and Adelaide (Australia) events drew over 100,000 fans this year, and LIV says that 10 of its 13 teams will be profitable in 2026.