Those concerns grew after a report from the Financial Times claimed people “familiar with the matter” believed a PIF announcement of the withdrawal of Saudi funding could come as early as Thursday.
For the first time in the four-year history of LIV Golf, the media centre was closed on Tuesday as journalists began to assemble for the £22m ($30m) event in Mexico that is due to start on Thursday. It is understood that journalists were told as they waited to board shuttle buses to the press HQ, although claims later surfaced of a power board not working.
Telegraph Sport contacted several LIV players on Wednesday morning and they all insisted it was business as usual as they went about their preparations. Tee times were announced on Wednesday evening. One of these golfers, who chose to remain anonymous, said: “I’ll be honest. None of the players have heard anything. It’s hopefully a merger. Everyone gathers at Augusta don’t they?”
Sergio García, the former Masters champion who earlier this week apologised for his behaviour during last weekend’s final round at Augusta National, added in a press conference on Wednesday: “We have not heard a thing. This is not what Yasir [Al-Rumayyan, the LIV chairman and PIF governor] told us at the beginning of the year. He said that he is behind us and that they have a project of many years.”
Scott O’Neil, the LIV chief executive, is expected to address the players after the Wednesday pro-am event in Mexico. Indeed, O’Neil was seen at the Masters last week, as were other executives. In 2023, PIF and the PGA Tour famously signed “a framework agreement” that was seen as the first step of a merger. However, since then negotiations were believed to have all but broken down and there has seemed to be no prospect of a deal.
There has been mounting talk of LIV and the DP World Tour entering discussions, but sources from the latter were adamant on Wednesday that this latest upheaval had nothing to do with Wentworth.
Theories have emerged that the effects of the Iran war are causing the Kingdom to shore up its economy and that LIV could be the first high-profile victim of the Gulf pulling money from “soft power” ventures in sport. One player agent even suggested to Telegraph Sport that it could be an easy way out for a money-bleeding undertaking that, by even the most optimistic analysis, will take years if not decades to bear fruit.
The development came as PIF approved funds for its strategy for the next four years. A statement read: “The 2026-2030 Strategy represents a natural progression from a phase of growth and expansion to a new phase of achieving sustainable value, maximizing impact, increasing investment efficiency, and implementing the highest standards of governance, transparency, and institutional excellence.”
Last month, LIV enjoyed one of its most successful events when it staged its first tournament in South Africa. The Johannesburg 72-hole event attracted huge crowds and on the back of LIV finally gaining recognition with the Official World Golf Ranking boards, everything appeared to be on the right track.