Saudi PIF to Cease LIV Golf Funding After Season

Saudi Arabia's Public Investment Fund will end its funding of LIV Golf after the current season, according to a Wall Street Journal report. The league, founded by Greg Norman, plans to inform players by Thursday. LIV Golf CEO Scott O'Neil has addressed the development amid weeks of speculation.

LIV Golf launched in 2022 as a rival circuit backed by the PIF. O'Neil stated earlier this month that the league remains funded through the season and is developing a business plan for sustainability, similar to other private equity ventures. He sent an email to staff affirming the season would proceed uninterrupted, though LIV later postponed its June event in New Orleans to a date to be determined.

The circuit has claimed two major victories: Brooks Koepka at the 2023 PGA Championship before his return to the PGA Tour, and Bryson DeChambeau at the 2024 U.S. Open. LIV shifted this season from its original 54-hole format to the standard 72 holes. Patrick Reed plans to rejoin the PGA Tour.

O'Neil expressed optimism about a new business plan and potential revenue growth. Speculation surrounds expiring contracts for DeChambeau and Jon Rahm after this season. LIV Golf did not immediately respond to requests for comment.