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LIV Golf in danger of shutting down after emergency meeting
TL;DR
LIV Golf faces potential closure as investors, including the Saudi Arabian Public Investment Fund, consider withdrawing funding. An emergency meeting of LIV Golf executives in New York has raised concerns about the league's future amid reports of significant financial losses.
LIV Golf is under threat of closure with investors considering withdrawing funding (Getty)
The future of LIV Golf is up in the air after reports that the Saudi Arabian Public Investment Fund (PIF) are considering withdrawing their funding for the breakaway tour.
Rumours and reports of the league being shut diwn have gained momentum after an emergency meeting of LIV Golf executives was held in New York on Tuesday though the official reason for the meeting remains unknown.
The Athletic reports that the meeting concerned the prospect of the PIF withdrawing their funding for the tour after substantial losses over the four years that the breakaway league has been in place.
In a rather contrasting report LIV Golf executives are also reportedly looking to abandon the league whilst also attempting to oversee the next steps for the tour, whatever they may be.
Elsewhere, the Financial Times also reported that the PIF was on verge of cutting its support but that no final decision had been made.
The PIF manages its near $1tn worth of funds spread across a variety of projects and recently announced a new strategy for 2026-30 that includes “a new phase of achieving sustainable value, maximising impact and increasing investment efficiency”.
Saudi Arabia has funded close to $5bn into LIV and its United Kingdom-based entity LIV Golf Ltd posted a £461.8m loss in 2024.
LIV is scheduled to play in Mexico City this week and is moving forward with that tournament as though the behind-the-scenes concerns were non-existent.
Sergio Garcia says LIV Golf is “a project of many years.” (Reuters)
However, news conferences were cancelled on Tuesday and the tournament’s media centre was closed with power outages being claimed as the reason for both.
Sergio Garcia, one of the leading names on the LIV Golf tour, said he had “not heard anything” about the league being shut down and that players were told at the beginning of the year that LIV is “a project of many years.”
"Honestly, we aren't going to listen to anything except for what Yasir [Al-Rumayyan, LIV Golf chairman] told us as the start of the year, that he is behind us, that they have a project for many years," said Garcia.
"As you know, there are always a lot of rumours. I can't tell you anything more than we already know."
Q&A
What led to the emergency meeting of LIV Golf executives?
The emergency meeting was prompted by concerns over the potential withdrawal of funding from the Saudi Arabian Public Investment Fund due to substantial financial losses.
Who is considering withdrawing funding from LIV Golf?
The Saudi Arabian Public Investment Fund is reportedly considering withdrawing its financial support for LIV Golf.
What are the financial issues facing LIV Golf?
LIV Golf has experienced significant financial losses over the past four years, which has raised concerns about the league's viability and future funding.
