LIV Golf Loses Saudi Arabia Funding—Effectively Ending PGA Rival, Report Says

LIV Golf, the PGA Tour competitor backed by Saudi Arabia's Public Investment Fund (PIF), is reportedly losing its funding from the Gulf state after this season, according to the Wall Street Journal. This follows weeks of speculation about a potential shutdown. LIV plans to inform staff and players on Thursday. The league is discussing options with outside investors, but maintaining its current form is "nearly impossible" due to mounting losses. Unnamed sources suggest LIV no longer aligns with the PIF's strategy. LIV Golf reportedly lost $1.4 billion in its first three and a half years, including $590.1 million from its UK branch in 2024 alone. Rumors of a shutdown accelerated this month after a Financial Times report and an emergency meeting in New York. Established in 2022 with billions from Saudi Arabia, LIV lured top players like Jon Rahm and Phil Mickelson with guaranteed contracts. Players returning to the PGA Tour could face significant financial penalties, as Brooks Koepka did last year.