Saudi Arabia’s PIF is reported to be on the verge of pulling its backing from the breakaway tour, with executives summoned to an emergency New York summit
Doubt has been cast on the future of LIV Golf after reports emerged that Saudi Arabia’s Public Investment Fund (PIF) is planning to withdraw its financial support for the breakaway tour, triggering an emergency gathering of senior LIV executives in New York.
Saudi Arabia’s PIF – which has invested approximately $5bn in LIV since the tour’s inception five years ago – is set to be reconsidering its backing – with an announcement of the Kingdom’s decision expected imminently (as of 16 April 2026).
Suggestions PIF could be about to withdraw LIV support come as Saudi Arabia announced a new five-year investment strategy on 15 April, which has seen its gaze shift inward to domestic priorities and sustainable returns.
Yasir al-Rumayyan, Governor of PIF, acknowledged the broader pressures informing the rethink. The ongoing US-Israel war against Iran, he said, “would add more pressure to reposition some priorities”.
No final decision on LIV’s future has been made, according to people familiar with the matter, with one source adding that PIF was actively considering the extent and duration of its continued involvement.
Executives summoned, players kept in the dark
The Telegraph first revealed LIV Golf executives had been called to what sources described as “an emergency summit” in Manhattan – on the same day the tour was preparing to host its sixth event of the season at Club de Golf Chapultepec in Mexico City. Not a single executive was present at the venue yesterday.
The media centre at the Mexico City site was also closed – the first time in the tour’s four-year history that had occurred ahead of an event, though LIV attributed the closure to an electrical fault.
Players said they had been told nothing so far, with suggestions made to The Telegraph LIV could soon be merged with another golfing body.
The reported mood among the playing roster pointed to Augusta National as a possible catalyst. LIV CEO Scott O’Neil attended the Masters last week alongside other executives and power brokers across professional golf, fuelling conjecture over talks with the PGA Tour or DP World Tour. Sources from the DP World Tour were, however, “adamant” the New York meeting had nothing to do with Wentworth.
LIV Golf CEO O’Neil insists the season goes on
In an email sent to staff on Wednesday afternoon, O’Neil moved to steady nerves. He said: “I want to be crystal clear: our season continues exactly as planned, uninterrupted and at full throttle,” he wrote, describing the external commentary as speculation and urging the organisation to “lean into this moment.”
He did not address the PIF’s reported position directly.
The CEO’s message landed as LIV Golf continued to promote its Mexico City event on social media, posting a breaking-news graphic with the line: “Slow news day? We are ON.”
The financial outlook of LIV has long seemed unsustainable. LIV’s UK entity lost almost $500m in 2024, and O’Neil told the Financial Times in February that the tour would not reach profitability for another five to ten years. The Saudi PIF’s cumulative spend was on course to exceed $6bn by the end of 2026.
Against that backdrop, the tour has struggled to convert event success into commercial sustainability. While crowds in South Africa and Australia have been strong, LIV has yet to secure the US television rights deal that underpins the economics of major professional sport.
PGA Tour events continue to dominate ratings by a wide margin – the 2026 Masters, won by Rory McIlroy, peaked at more than 20 million US viewers.
