LIV Golf reportedly losing funding from Saudi Public Investment Fund

LIV Golf, which shook up the professional golf world when it was created five years ago and forced major changes on the PGA Tour, may be playing its final rounds.

The deep-pocketed Saudi Public Investment Fund that has bankrolled the upstart league reportedly is slashing funding Officials from the breakaway tour were summoned to an emergency meeting in New York this week, according to a report in The Telegraph.

According to the Financial Times, an announcement could come as soon as Thursday, April 16. The war in Iran and its effect on the Middle East was cited as a factor in the decision.

"Saudi Arabia's sovereign wealth fund is on the verge of cutting its support for LIV Golf," the Financial Times reported. "An announcement on the future of the kingdom's involvement in LIV, which has racked up huge losses since being set up five years ago, could come as soon as Thursday."

There were no LIV Golf officials in Mexico City for this week's tournament. A pre-tournament news conference was canceled on April 14, hours before it was scheduled to begin. However, the pairings for the tournament - scheduled for April 16-19 at Club de Golf Chapultepec - have been announced and the golfers are present.

Sergio Garcia, speaking at a pre-tournament press conference April 15, said he has not heard anything about the status of LIV. He noted that Yasir Al-Rumayyan, governor of LIV, told the league's golfers at the start of the 2026 season that “he is behind us with a long-term project.”

More LIV: Tom Watson doesn't believe Brooks Koepka should be playing on PGA Tour

While spending billions - reportedly $6 billion by the end of 2026 - to lure professional golfers and stage tournaments all around the world, LIV has struggled to win over golf traditionalists, gain fans and attract attention and sponsors. It also could not convince the various golf organizations to give LIV players Official World Golf Ranking points for their tournaments.

LIV Golf Ltd, the United Kingdom-based entity that manages the golf league’s activities outside of the United States, lost $590.1 million in 2024, according to a report by The Athletic. It also was reported that LIV Golf Ltd lost $1.4 billion over its first 3 1/2 years of operation, failing to pick up a major television contract during that period.

Greg Norman, LIV's original CEO and the face of the league, has been replaced by Scott O'Neil. Norman established LIV's U.S. headquarters in a high rise in downtown West Palm Beach in the summer of 2022. He championed LIV's vision of 54-hole, no-cut team tournaments.

In June 2023, the PIF and PGA Tour, along with the DP World Tour, struck a “framework agreement” to drop litigation and come to a joint resolution where the leagues could co-exist. Three years later - and including President Donald Trump's attempt to help the negotiations soon after taking office in 2025 - the sides remain far apart.

Meanwhile, defections have marked LIV 2026. Brooks Koepka returned to the PGA Tour in January and Patrick Reed will return in 2027.

LIV Golf formed in 2021, lured stars Brooks Koepka, Bryson DeChambeau

Bryson DeChambeau of Crushers GC holds the trophy next to South African President Cyril Ramaphosa during day four of LIV Golf South Africa at The Club at Steyn City on March 22, 2026 in Johannesburg.

LIV Golf was founded in 2021 as an alternative to the PGA Tour. Backed by the Saudis, the upstart league lured PGA Tour stars such as Koepka, Bryson DeChambeau, Jon Rahm, Dustin Johnson and Phil Mickelson with guaranteed million-dollar contracts.

LIV entered 2026 with 13 teams and 57 players. Five of the 14 scheduled tournaments have been held.

Aug 22, 2025; Detroit, Michigan, USA; Brooks Koepka of Smash GC plays his shot from the fifth tee during the quarterfinals of the LIV Golf Michigan Team Championship at The Cardinal at Saint John's Resort. Mandatory Credit: Aaron Doster-Imagn Images

While the PGA Tour brushed aside any concerns initially, it eventually acknowledged the LIV threat by creating the Player Impact Program, which now allocates millions more for its players through signature events.

The tour pumped millions into its purses and billions into the game with a$3 billion deal with Strategic Sports Group that included an initial investment of $1.5 billion into the launch of a commercial venture, PGA Tour Enterprises.

This article originally appeared on Palm Beach Post: LIV Golf's experiment may be ending after 5 seasons of little success