Saudi Arabia wealth fund to stop funding LIV Golf after 2026 season

Crowds lining the Watering Hole during the LIV Golf Adelaide at The Grange Golf Club in Adelaide. Photo / AAP Image

Saudi Arabia’s sovereign wealth fund will stop financing LIV Golf at the end of the 2026 season, throwing the future of the breakaway tour into serious doubt, US media has reported.

LIV Golf, founded in 2022 as a main rival to the PGA Tour, plans to inform staff and players this week that the Saudi Public Investment Fund will no longer bankroll the circuit beyond this summer, the Wall Street Journal said.

The league, which spent billions of Saudi dollars to lure many of the world’s top players, including Bryson DeChambeau and Phil Mickelson, will “evaluate strategic alternatives” to continue operating, CNBC reported.

Both the WSJ and CNBC cited multiple anonymous sources. LIV Golf did not comment when repeatedly contacted by AFP.

Reports first emerged earlier this month that the breakaway tour was on the verge of collapse because of the possible withdrawal of Saudi financing.

LIV’s deep-pocketed backers in Riyadh were rumoured to have cooled on the extravagantly expensive project, which has reportedly cost them more than US$5 billion so far.

LIV Golf CEO Scott O’Neil refuted the reports, vowing to continue the season “full throttle”, though he conceded the league would “probably” have to raise money going forward.

A collapse of LIV Golf could jeopardise the careers and earnings of its star players.

The likes of DeChambeau defected from the PGA Tour in acrimonious circumstances, and may face severe penalties if they try to return.

“There were rules, and they were broken,” PGA Tour chief executive Brian Rolapp told the WSJ this week. “With rules comes accountability.”

Kiwis Ben Campbell and Danny Lee both feature on the tour.

LIV Golf this week postponed its planned June tournament in New Orleans, with officials saying they hope to reschedule an event for later this year.

LIV’s next tournament is set for May 7-10 at Trump National in suburban Washington.

Its final scheduled tournament this season is set to take place in Indianapolis from August 20-23.