The launch of LIV Golf in June 2022 aims to disrupt and challenge the existing structure of professional golf, creating a rival league to the PGA Tour, poaching the game’s top stars and rebuilding golf in a new image. Four years later, the Saudi-funded league may be on the brink of closing its doors and questioning the future of some of the game’s best players…but not right away.
The Saudi-funded Public Investment Fund is reportedly considering unwinding its multibillion-dollar investment in LIV Golf amid a reassessment of funding in the sports sector and an ongoing conflict between the United States and Iran, according to The Athletic and The Wall Street Journal. League executives have been in New York in recent days participating in high-level meetings with members of the Saudi Public Investment Fund.
However, CEO Scott O’Neill told LIV Golf staff in an email Wednesday that the league has sufficient funds available through the end of the year, so the 2026 season will continue as scheduled without interruption. LIV Golf Mexico City, which begins this Thursday, is the sixth of the league’s 14 tournaments scheduled this season.
“Let me be clear: Our season will continue as planned, uninterrupted and at full throttle,” O’Neal said in an email obtained by multiple news outlets. “While the media world is often full of speculation, our reality is defined by the work we do on our turf. We head into the center of our 2026 schedule with the full energy of an organization that is bigger, louder and more influential than ever before.”
He continued, “The life of the startup movement is often determined by these high-pressure moments. We’re in this because we believe in challenging the status quo. Since the jump, we’ve faced headwinds, and each time we’ve responded with resilience and grace. Now, we’re responding by doing what we do best: putting on the most captivating show in sports.”
Many believe the future of LIV golf is in jeopardy after years of efforts to attract players and large audiences have failed. As the PGA Tour itself has added private investment and increased funding for its marquee tournaments, LIV Golf has struggled to attract top names after an initial wave of big-ticket contracts, paying big salaries and draining money by hosting events that no one watches.
The league reportedly receives more than $5 billion from PIF, and losses are estimated to be in the hundreds of millions of dollars each year. The long-term financials have been difficult for LIV Golf, which has not been able to obtain significant media rights or ticket revenue in its first four years.
Critics have accused LIV Golf of acting as Saudi Arabia’s sports washing arm, an operation that existed as a way to improve the country’s reputation amid accusations of human rights abuses and corruption. Proponents suggested that this would advance the game of golf and present an alternative product with a different format.
However, because of its 54-hole, shotgun start, and no-cut tournament, LIV Golf failed to gain recognition from the sport’s preeminent rating agency, the Official World Golf Rankings, and the team competition element failed to resonate with fans. As such, LIV Golf was forced to change its format and only recently received approval from the OWGR, but that move may have been too little, too late given the lack of increased interest in the league.
What happens to the best players at LIV Golf?
Two-time U.S. Open champion Bryson DeChambeau and two-time major champion Jon Rahm are the two biggest stars signed with LIV Golf, but other burgeoning talents like Joaquin Niemann and Tyrrell Hatton have also joined the circuit. (Five-time major champion Brooks Koepka and 2018 Masters champion Patrick Reed recently left the league for the PGA Tour and DP World Tour, respectively.)
The PGA Tour has already shown a desire to create a path for its top stars to return. However, it did so while considering the feelings and perspectives of its members, many of whom turned down contracts with LIV Golf, rejecting the prospect of getting rich faster in order to remain loyal and continue playing in the United States.
With DeChambeau and Rahm turning down the opportunity to line up with Koepka this offseason, LIV Golf will have to reevaluate its process if it shuts down. Koepka’s contractThe PGA Tour said it was billed as an “unprecedented” one-time offer, which included a $5 million charitable contribution, five years of disqualification from the Player Equity Program and no FedEx Cup payments for the first year.
These players, who may lose their homes, will have no leverage in negotiations with the PGA Tour, putting them in a difficult negotiating position.
One option would be for the PGA Tour to offer him the same contract Reed received. He will be suspended for one year and will have to regain his status through major championships and DP World Tour matches. DeChambeau and Rahm have both won major championships within the last five years, so they will maintain their full-time status upon their return. For others, the path may be even more difficult.
LIV Golf’s ambitious recruitment
When LIV Golf first started, some thought it posed an existential threat to the PGA Tour. With billions of dollars in support from Saudi Arabia, they aggressively pursued a number of top stars with nine-figure contracts. Greg Norman took charge of the business, and Phil Mickelson became the public face of the league, which quickly sparked controversy.
Although LIV Golf was successful in recruiting some older players, it was only able to persuade a few top stars with the promise of guaranteed money and a shortened worldwide schedule.
Dustin Johnson was the first to sign, followed by DeChambeau, Koepka, Reed and Niemann. Cameron Smith left the PGA Tour shortly after winning his first major at the British Open in 2022, helping to give the league more legitimacy away from the accomplishments of Mickelson, Sergio Garcia, Henrik Stenson and Louis Oosthuizen.
The biggest shock came after the second season of LIV Golf. Rahm publicly denied any desire to join LIV when asked multiple times, but announced his move in a bizarre interview after withdrawing from the PGA Tour in December 2023 and reportedly receiving offers of more than $300 million.
Rahm’s move comes months after the infamous “framework agreement” was signed between PIF and PGA Tour Enterprises, which appeared to be a truce and signaled a potential merger was on the horizon. Years later, despite continued conversations and at least one meeting at the White House, the parties never approached.
Cracks are starting to appear…
LIV Golf’s façade began to crumble when Koepka abruptly announced his retirement in late 2025, a year before his contract expired. He was quickly recalled to the PGA Tour, with CEO Brian Rolup at the helm showing the circuit was more willing to negotiate with high-profile golfers who wanted to return. Following Reid’s departure, other companies turned down similar offers, but LIV Golf continues to struggle to climb the rankings.
To satisfy top stars and better prepare players for the majors, LIV Golf expanded to a 72-hole event in 2026. But while Rahm appreciated the move, DeChambeau wasn’t thrilled about the change and stressed it wasn’t what he signed up for. Retaining Rahm and DeChambeau is paramount to the league.
LIV Golf has had some success with on-site events in places like South Africa and Australia where the PGA Tour doesn’t play regularly, but its global schedule and lack of star power means it struggles to connect with fans who simply don’t watch the product in droves.
