Can LIV Golf work without the Saudi billions? Sports investors predict a ‘free fall’

Key Points:

• The Saudi Public Investment Fund (PIF) announced it will pull its investment from LIV Golf after the 2026 season, with PIF chairman Yasir Al-Rumayyan stepping down from the league’s board, signaling a major shift for the league’s future.
• LIV Golf is actively seeking private investors and attempting to sell its 13 teams, but interest is scarce due to the league’s massive financial losses, large guaranteed player contracts, and uncertain path to profitability.
• Despite claims of revenue growth and sponsorship deals, experts doubt LIV’s financial sustainability without Saudi backing, noting the league is far from cash flow break-even and faces skepticism over its high team valuations.
• LIV’s global schedule and recent broadcasting deal with Fox Sports have not generated sufficient media revenue, contrasting sharply with the PGA Tour’s lucrative long-term media contracts, further challenging LIV’s viability.
• Industry insiders suggest LIV may need to drastically downsize or transform into a smaller-scale series or domestic Saudi product to survive, with its future hinging on retaining star players like Bryson DeChambeau and securing a viable business model.