LIV Golf CEO Scott O’Neil sent a memo to staff insisting the 2026 season will go ahead ‘exactly as planned, uninterrupted and at full throttle,’ aiming to quell reports about the breakaway circuit’s financial backing.
The memo, provided to The Associated Press, followed media accounts that Saudi Arabia’s Public Investment Fund (PIF) was re-evaluating its support. The Daily Telegraph said LIV executives were summoned to an ’emergency meeting’ in New York, and the Financial Times reported the PIF was considering withdrawing funding, though it noted no final decision had been made.
Independent reporting has highlighted the scale of PIF’s investment: Money in Sport said LIV had spent about $5.3 billion by February, with projections above $6 billion by year-end. Sky Sports reported players were unsettled and seeking clarity; team captains said they had not been briefed on any imminent change.
In his message, O’Neil pushed back on speculation and pointed to the league’s on-course activity as proof of its momentum. He wrote that LIV was heading into the heart of its 2026 schedule with ‘the full energy of an organisation that is bigger, louder, and more influential than ever before.’ Staff were urged to focus on staging events.
LIV was launched in June 2022 with PIF backing and initially paid roughly $1 billion in signing bonuses to high-profile players including Bryson DeChambeau, Brooks Koepka, Phil Mickelson, Dustin Johnson and Jon Rahm. The circuit increased prize money this year — listing a $30 million total prize pool for 2026, with team awards doubled to $10 million and a $20 million individual purse. The field has changed since launch: Koepka returned to the PGA Tour under set terms, and Patrick Reed is competing on the DP World Tour while pursuing a route back to PGA Tour eligibility.
Pressure on PIF to refine its priorities came after the sovereign fund unveiled a new five-year strategy to ‘maximise impact, raise the efficiency of investments and apply the highest standards of governance, transparency and institutional excellence.’ PIF governor Yasir Al-Rumayyan told the Financial Times that the US-Israel war with Iran had created additional pressure to reprioritise commitments.
At LIV Golf Mexico in Chapultepec, players said they had few definitive answers. Sergio Garcia, captain of Fireballs GC, said in Spanish that players would rely on Al-Rumayyan’s earlier assurances that PIF had a long-term plan for LIV. One anonymous player said Al-Rumayyan met with players in March in Hong Kong and indicated funding extended through 2032. O’Neil arrived in Mexico City and was scheduled to meet players; LIV promoted the week on social media with the line: ‘Slow news day? We are ON.’
This season LIV has already held events in Saudi Arabia, Australia, Hong Kong, Singapore and South Africa. The circuit marked an emotional victory in Australia when Anthony Kim, returning after a 12-year hiatus, won following a highly publicised comeback. Bryson DeChambeau captured the last two events in playoffs and was attempting to become the first LIV player to win three straight tournaments. LIV’s first U.S. stop is scheduled for May 7-10 at Trump National in Virginia.
O’Neil characterised LIV’s challenges as part of building a disruptive start-up: that the league signed up to ‘disrupt the status quo,’ had met headwinds, and would respond by continuing to present what he called a compelling sporting product.
Observers and media analysts said the reports of a PIF rethink were credible and reflected broader scrutiny of large sports investments. Sky Sports pundit Paul McGinley described the coverage as fast-moving and suggested the influx of enormous prize funds had created leverage for players and a ‘false economy’ that might require recalibration.
Sky Sports chief correspondent Kaveh Solhekol noted PIF’s revised strategy does not explicitly list sport among its seven focus areas, although sport could be grouped under tourism and entertainment. He said PIF expects returns on its investments and that continuing to fund a loss-making venture could be hard to justify: ‘They have invested $5bn so far and it’s expected that were they to continue funding LIV it would still lose money for the next five to 10 years,’ he observed.
LIV has also adjusted its format and structure since launch, moving from a 54-hole model to 74 holes for 2026 in a bid to win Official World Golf Ranking points. The circuit expanded from 12 teams and 48 players to 13 teams but has also seen notable departures in recent months.
As speculation about PIF’s future commitment continues, LIV’s public position remains one of readiness: leadership has told staff the season will proceed and asked employees to concentrate on delivering the scheduled events.