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,” said 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.
That has left 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.
An open question now is the fate of LIV’s current players, most notably Bryson DeChambeau and Jon Rahm. Both declined the opportunity to rejoin the PGA Tour on an accelerated pathway used by Brooks Koepka earlier this year. Patrick Reed left LIV last season and will be eligible to play in PGA Tour events only after waiting a year after his final LIV appearance last August.
DeChambeau is likely the pivot point; he’s arguably the most popular player in the world, given his millions of YouTube followers. The question now is if LIV will be able to re-sign him at his market value, although he has reaffirmed his commitment to LIV this month.
“There’s a lot of moving parts like in any business. It’s a startup, right? And so there’s going to be times where we’re squeezed and punched,” he told the independent golf site Flushing It after LIV’s Mexico City event. “This is one of those moments. But I’m going to do everything in my power to make it work and I really see the value in franchise golf.”
LIV’s next event is scheduled for next week in Virginia. A later event originally scheduled for Louisiana has been postponed, with LIV officials hoping to reschedule for the fall.