LOS ANGELES.- The sovereign fund Saudi Arabia will stop financing the LIV Golf at the end of the 2026 season, which casts serious doubts on the future of this dissident circuit, US media reported on Wednesday.
LIV Golf, founded in 2022 as the main rival of the PGA Tourwas scheduled to inform staff and players on Thursday that the Saudi Public Investment Fund will no longer finance the circuit beyond this summer, the Wall Street Journal noted.
The circuit, which spent billions of Saudi dollars to attract many of the world’s leading figures, such as Bryson DeChambeau and Phil Mickelson“will evaluate strategic alternatives” to continue operating, CNBC reported.
Both the Wall Street Journal and CNBC cited multiple anonymous sources.
LIV Golf did not comment despite repeated requests from the AFP.
The first reports emerged earlier this month that the dissident circuit was on the verge of collapse due to the possible withdrawal of Saudi funding.
It was rumored that LIV Golf’s wealthy sponsors in Riyadh They had cooled off on the extremely expensive project, which was reported to have already cost them more than $5 billion.
The CEO of LIV Golf, Scott O’NeiHe denied this information, promising to continue the season “at full speed”, although he acknowledged that the circuit would “probably” have to obtain financing in the future.
A LIV Golf collapse could put the careers and incomes of its star players at risk. Figures like DeChambeau defected from the PGA Tour under very tense circumstances and could face severe sanctions if they try to return.
“There were rules and they were broken,” said the executive director of the PGA Tour, Brian Rolappto the Journal this week. “With rules comes responsibility.”
Upcoming scheduled events
LIV Golf postponed its tournament scheduled for June this week in New Orleansdecision announced Tuesday; Managers indicated that they hope to reschedule an event for the end of this year.
The next LIV Golf tournament is scheduled for May 7-10 at Trump Nationalon the outskirts of Washington.
The last scheduled tournament of this season of the dissident circuit is scheduled in Indianapolis from August 20 to 23.
