Golf: Saudi sovereign fund PIF to withdraw from LIV Golf circuit launched in 2022 after the 2026 season

"The Public Investment Fund has made the decision to fund LIV Golf only for the remainder of the 2026 season. The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF’s investment strategy. This decision has been made in light of PIF’s investment priorities and current macro dynamics," the sovereign fund said in a statement sent to several media outlets (AFP, Associated Press, Washington Post, Wall Street Journal, etc.) on 01/05/2026.

LIV Golf Investments, a company established in 2021 with the PIF as its majority shareholder, launched a global golf tour (comprising eight events) to rival the PGA Tour in 2022, with initial funding of between $200m and $300m (between €176m and €264m) for its debut season. Thirteen tournaments in the LIV Golf League — bringing together 13 franchises and 57 male and female players — are on the 2026 season calendar (14 in 2025). According to media reports, the Saudi fund is said to have invested $5bn (€4.2bn) in the tour over five years.

"The LIV Golf Board has created a committee of…