LIV Golf to map out future without Saudi funding, strikes upbeat tone for what comes next

LIV Golf will outline its plans for the future on Thursday, with Saudi Arabia expected to officially announce an end to its financial backing and as questions swirl about what comes next. Multiple reports have said the kingdom’s Private Investment Fund, which has supported LIV from the start, would be stepping away at the close of the 2026 season. For Hong Kong, that has raised concerns about the deal signed last year to host tournaments in 2026 and 2027 at Hong Kong Golf Club, and with the potential to extend to 2029. A club spokesman said there would be no comment “ahead of any potential statement from LIV Golf”, adding HKGC remained committed to “promoting Hong Kong as a premier host city for mega international golf events”. Rumours have circulated for the past two weeks regarding PIF’s move, and sources close to LIV said players had been made aware of everything that was happening over the past fortnight, rather than being caught completely off guard. Officials are exploring a range of options, sources with knowledge of LIV’s business operations told the South China Morning Post, including attracting new financial partners. But far from being downcast about the loss of funding, there was an upbeat feeling within the organisation, the sources said. PIF was not expected to cut the league off completely, and the sources said the end of the substantial backing received so far – estimated to be US$5 billion since its inception in 2022 – could open doors previously closed because of the link to the Saudi regime. One source said Scott O’Neil, the LIV Golf CEO, may even find a “sense of freedom” in being able to “go out and sell” the league to those previously hesitant to get involved, while other financial partners already on board, such as HSBC and Rolex, were expected to continue their relationships. There were “constructive discussions with prospective global investors” already taking place, another source added, while at least two of the league’s 13 teams have been approached by “interested parties”. Any details of what follows next will include the naming of new board members and leadership at LIV, with Yasir Al-Rumayyan, the governor of PIF who was behind the creation of LIV Golf, reportedly resigning as chairman. Still, the upheaval has created uncertainty over the future of the league’s tournaments, especially on the back of the postponement of June’s event in New Orleans. LIV returns to Asia in less than a month for a tournament in Korea, and O’Neil was there this week to reinforce the league’s commitment to the team format, while also telling local outlet Maeil Business he was “working hard to create an environment where it [LIV] can grow on its own”. A source told the SCMP the event at Asiad Golf Club in Busan, which runs from May 28 to 31, was expected to be at capacity, with premium hospitality sold out. LIV is also planning to announce the signing of four new event sponsors over the course of the next month. But the change in circumstances may yet prompt a rethink on how LIV looks going forward, which the sources suggested could range from a reduction in the number of tournaments from 14 to a more “fiscally responsible” number, or the thawing of relations with the PGA Tour and DP World Tour. A drop in events is certainly possible, with a source floating the possibility of six of LIV’s strongest – Australia, South Africa and Hong Kong among them – surviving on a leaner looking tour. The Hong Kong tournament in March was the third year of LIV’s partnership with the city, and at the time, Barry O’Byrne, HSBC’s CEO of international wealth and premier banking, said joining as the league’s first named sponsor reflected “our commitment to advancing Hong Kong’s presence on the global stage”. When news of PIF’s decision first broke earlier in April, it was initially met with a robust denial from CEO Scott O’Neil, who said it was going ahead “full throttle”. In his message to employees, which was seen by the SCMP, O’Neil said LIV was heading into the rest of the 2026 schedule “with the full energy of an organisation that is bigger, louder, and more influential than ever before”. “The life of a start-up movement is often defined by these moments of pressure,” O’Neil wrote. “We signed up for this because we believe in disrupting the status quo. We have faced headwinds since the jump, and we’ve answered every time with resilience and grace. Now, we answer by doing what we do best: putting on the most compelling show in sports.” A source close to league operations told the SCMP at the time that the season was “continuing as planned”.

LIV Golf to map out future without Saudi funding, strikes upbeat tone for what comes next

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}League’s officials to reveal details of new board, leadership with Private Investment Fund expected to stop support at end of 2026 season

League’s officials to reveal details of new board, leadership with Private Investment Fund expected to stop support at end of 2026 season