Rumors that PIF chairman Yasir Al-Rumayyan was set to pull the plug on the breakaway golf league have been swirling since LIV Golf’s most recent event in Mexico, with CEO Scott O’Neil all but confirming the news during an interview with TNT Sports which was swiftly deleted.
“The reality is that you’re funded through the season, and then you work like crazy as a business to create a business and a business plan to keep us going,” O’Neil said.
TG later learned that “99 percent” of the staff had been informed that week that the PIF would be withdrawing its funding following the conclusion of the 2026 season – which has already had one event cancelled as uncertainty looms. TG also reported that a number of LIV’s players had sounded out the DP World Tour over a possible return.
In a statement on Thursday, LIV Golf says its plan now is to “transition from a foundational launch phase to a diversified, multi-partner investment model, with a formal process underway to attract long-term financial partners”.
By the end of the year, the PIF will have pumped almost $6 billion into the project, with prize money across the 14 events coming in at almost half a billion a year.
Despite reports that Al-Rumayyan will be stepping down as LIV Golf’s chairman, he is not mentioned in the statement. Nor was the PIF’s intention to cut ties with the league.
Instead, it talks of a “newly established independent board” which will be headed by Gene Davis and Jon Zinman – the founders and chairmen of Pirinate Consulting Group LLC and JZ Advisors LLC respectively.
LIV describes the pair as “seasoned experts with proven track records of navigating complex situations and unlocking value for global organizations, to guide the league through its next phase”.
Mr Davis said: “The executive leadership team, along with Jon and I, see 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.”
LIV Golf, it seems, will now focus on its team and franchise model and are seeking “constructive, forward-looking discussions with prospective global investors and partners who share our vision for an inclusive and modernized game”.
The statement concludes: “For our fans, players, and partners, our commitment to world-class golf remains unchanged as this process unfolds.”