LIV Golf: Saudi Arabia to withdraw funding at finish of season | EUROtoday

This week LIV postponed its June occasion in New Orleans, which means it is not going to have any tournaments within the US between 10 May till 6 August, when it goes to Trump Bedminster in New Jersey.

However, LIV tournaments are as a result of happen in South Korea, Spain and Britain throughout this era.

BBC Sport has been advised LIV stays hopeful of remaining a global tour with a workforce mannequin, and that it’s in “constructive” talks with potential traders. The collection is alleged to be “totally up for sale”.

Davis stated: “LIV Golf has built something truly differentiated – a global league with passionate fans, world-class talent, and demonstrated commercial momentum.

“The govt management workforce, together with Jon and I, see a transparent alternative to assist the league formalise its construction, entice and safe long-term capital, and place the enterprise for development whereas persevering with to advertise the sport the world over. We stay up for positioning LIV Golf for future success.”

LIV described Davis as a “main company governance and strategic advisory skilled”, while Zinman is said to have “experience in driving monetary and operational transformation for firms navigating complicated reorganisations”.

Its statement did not mention PIF or Al-Rumayyan.

Sources indicated that executives are exploring a number of opportunities to “reposition” the business. They said LIV Golf was on course to earn $100m (£86m) more in 2026 than last season, and are telling potential investors that ten of the LIV teams will be profitable this year.

However, officials accept it is almost certain that the series will have to be significantly scaled back, with far fewer than the current 14 events.

Team captains and staff have been told of LIV’s plan to find new funding.

This month LIV Golf chief executive Scott O’Neil told players the 2026 season would continue “as deliberate and uninterrupted” amid rumours the tour was on the verge of collapse, although he did not address what might lie ahead.

It came as PIF – which also owns Premier League club Newcastle United – announced a new strategy, with a focus on more sustainable investments.

Major winners Jon Rahm, Bryson DeChambeau, Phil Mickelson and Cameron Smith are among the players who compete on the LIV tour.

The project, which pivoted to a more traditional 72-hole format this year, has been bankrolled by an eye-watering amount of money from PIF.

The overall investment surpassed $5bn (£3.8bn) when fresh capital of $267m (£229m) was injected this year.

The tour’s net losses in markets outside the US increased to $462m (£340m) in 2024, meaning it had lost more than $1.1bn (£810m) since it was established in 2021.

But with vast amounts of money pumped into the US arm of the operation, overall losses look likely to run to several billion dollars.

In February, Rahm, Smith and DeChambeau turned down a one-time opportunity to apply for reinstatement to the PGA Tour under its ‘Returning Member Programme’, which was facilitated for those who had won a major – or The Players Championship – since 2022.

Five-time major winner Koepka was the only player to take up the offer and smoothed his return by paying fines said to be worth about £63m.

Amid reports that some LIV golfers have approached the PGA Tour and DP World Tour to explore possible returns, it remains unclear if the series’ potential demise would see such a path reopened, and what terms might be issued.

Speaking after the most recent event in Mexico City, DeChambeau said, “As of proper now, my job is to assist make the league work after this yr. I simply really feel like I’ve a duty. I’ve put a variety of effort into it. So that is what I’m going to do, we’ll make this work.

“As long as LIV is here, I would figure out a way for it to make sense.”

LIV Golf Virginia at Trump National Golf Club simply outdoors of Washington DC is scheduled to start on 7 May.

PIF has been approached for remark.

Saudi Arabia hosts and invests in quite a few sports activities, together with soccer, boxing, Formula 1 and tennis, and is because of host the 2034 World Cup. Earlier this month, PIF introduced it had offered a 70% stake in Saudi Pro League membership Al-Hilal.

The Saudi Arabia Snooker Masters, one of many richest occasions on the game’s calendar, was cancelled simply two years right into a 10-year deal.