LIV Golf has confirmed it is focused on “securing long-term financial partners” after Saudi Arabia’s Public Investment Fund (PIF) withdrew its backing.
LIV confirmed the news this lunchtime in a statement that failed to even mention PIF but did announce the creation of a newly established independent board led by Gene Davis and Jon Zinman that will be tasked with finding new investment for the breakaway tour.
It read: “LIV Golf, the global golf league blending world-class competition with entertainment and culture to grow the game worldwide, today announced new board appointments as the league focuses on securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model.
“This strategic evolution, accelerated by the league’s record-breaking performance in 2026, includes the appointment of a newly established independent board led by Gene Davis and Jon Zinman, seasoned experts with proven track records of navigating complex situations and unlocking value for global organisations, to guide the league through its next phase.”
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PIF decision continues move away from sport
PIF’s decision to walk away is in line with Saudi’s shift away from using sport as a means of gaining global influence while the country’s critics also claim it has been used to ‘sportswash’ their atrocious human rights record.
PIF are intending to redirect their enormous wealth towards sustainable domestic projects having seen LIV fail to achieve public appeal and they will walk away having made losses amounting to billions of pounds.
While LIV intends to carry on with new partners, widespread reports suggest most of its big-name players are exploring ways to return to the PGA Tour.
Brooks Koepka has already made the move, having agreed to pay fines totalling around £63million, but the futures of Bryson DeChambeau, Cameron Smith and Jon Rahm remain uncertain.
‘LIV Golf’s conviction in the team golf model has never been stronger’
Davis said: “LIV Golf has built something truly differentiated – a global league with passionate fans, world-class talent, and demonstrated commercial momentum. The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalize its structure, attract and secure long-term capital, and position the business for growth while continuing to promote the game across the world. We look forward to positioning LIV Golf for future success.”
The LIV statement concluded: “LIV Golf’s conviction in the team golf model has never been stronger. The league has built a differentiated platform that is global by design, commercially vibrant, and structured to unlock untapped value across the sport. The 2026 season has already proven the demand for our product, with record-breaking engagement and a 100% increase in revenue year over year.
“LIV Golf is now leveraging this momentum to engage in constructive, forward-looking discussions with prospective global investors and partners who share its vision for an inclusive and modernized game. For the league’s fans, players, and partners, the commitment to world-class golf remains unchanged as this process unfolds.”
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