Saudi Arabia's PIF to end funding of LIV Golf league after this season

Saudi Arabia's Public Investment Fund will end funding of the LIV Golf league after the 2026 season, two people familiar with the matter told CNBC's Sara Eisen, leaving the controversial golf venture in limbo.

The league, founded in 2021, was positioned as a rival to the PGA Tour and drew high-profile athletes. In 2023, it agreed to merge with the PGA Tour, but that deal has yet to come to fruition.

A committee of independent directors will evaluate strategic alternatives for the league after PIF pulls its funding, according to the people, who spoke on the condition of anonymity to discuss internal matters.

LIV declined to comment.

LIV Chief Executive Officer Scott O'Neil alluded to the idea that PIF could pull its funding in a broadcast interview earlier this month from a LIV tournament in Mexico City.

"The reality is 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. "But that's not different from any other private equity-funded business in the history of mankind."

LIV's non-U.S. operations reported losing nearly $600 million in 2024. In 2025, LIV announced new broadcast partnerships with FOX, IVT, DAZN and KC Global Media LIV, but TV ratings have lagged behind the more established PGA Tour.

LIV Golf is on pace to earn $100 million more in year-over-year revenue during the 2026 season than the previous season, according to a league spokesperson, as it has inked partnership deals with brands including Rolex, HSBC and Salesforce.

Still, the league will need to find investors who believe there's a future beyond this season when two of LIV's biggest stars — Bryson DeChambeau and Jon Rahm — have contracts that are close to expiring. DeChambeau's deal with LIV runs out at the end of this season. Rahm is signed through 2027.

Earlier this week, LIV postponed a scheduled tournament in New Orleans in late June as it seeks new funding.