The LIV Golf League has fashioned a brand new unbiased board of administrators to outlive as a “diversified multi-partner funding mannequin” as Saudi Arabia’s Public Funding Fund ends funding after the 2026 season, the league introduced Thursday.
The brand new board can be led by funding bankers Gene Davis and John Zinman, who the league mentioned have “a confirmed monitor file of navigating complicated conditions and unlocking worth for world-class organizations and can lead the league into its subsequent section.”
PIF has invested greater than $5 billion in LIV Golf for the reason that first event in June 2022, and is reportedly spending $100 million each month this 12 months.
PIF President Yasir Al-Rumayan will step down as chairman of LIV Golf on Thursday, sources confirmed to ESPN.
PIF introduced Thursday that it’s going to now not fund the LIV Golf League after this season.
“PIF has determined to fund LIV Golf just for the rest of the 2026 season,” a PIF spokesperson mentioned on Thursday. “The numerous investments required by LIV Golf over the long run are now not according to the present stage of PIF’s funding technique. This choice was taken taking into consideration PIF’s funding priorities and present macro dynamics.”
“The LIV Golf Board has established a committee of unbiased administrators to judge strategic alternate options for the longer term past PIF’s funding interval. LIV Golf has considerably grown golf globally by its progressive and optimistic influence, eternally altering the sport of golf for the higher. PIF stays dedicated to deploying capital internationally consistent with its funding technique, together with important present and future investments in quite a lot of sports activities as precedence areas.”
Throughout a event broadcast in Mexico Metropolis earlier this month, LIV Golf CEO Scott O’Neill mentioned PIF is dedicated to persevering with the remaining seven tournaments of this season.
The league and Louisiana Governor Jeff Landry introduced Tuesday that the event scheduled for New Orleans has been postponed and a fall date is being thought-about.
LIV Golf League officers advised ESPN on Thursday that subsequent week’s event at Trump Nationwide Golf Membership exterior Washington, D.C., will go forward as scheduled.
“The truth is we’ll be funded by the season after which we’ll work like loopy as an organization to create a enterprise and a marketing strategy to maintain us going,” O’Neal mentioned throughout broadcast of the season opener in Mexico Metropolis. “But it surely’s no totally different than another non-public equity-funded enterprise in human historical past.”
Based on a LIV Golf information launch, the league is concentrated on “securing a long-term monetary associate to assist the transition from the foundational start-up section to a diversified multi-partner funding mannequin.”
Officers say the league is open to a number of new fashions, together with decreasing the variety of tournaments, holding solely worldwide occasions or probably merging with the DP World Tour.
“LIV Golf has constructed one thing really totally different: a worldwide league with passionate followers, world-class expertise and confirmed business momentum,” mentioned Davis, who chairs the unbiased board committee. “Together with John and I, the manager staff believes there’s a clear alternative to formalize the league’s construction, entice and safe long-term funding, and assist place the enterprise for development whereas persevering with to popularize the sport world wide. We sit up for positioning LIV Golf for future success.”
The league mentioned income has elevated greater than 100% since 2025, and 4 occasions and 10 of the 13 groups can be worthwhile this season.
“Our perception within the staff golf mannequin has by no means been stronger,” the league mentioned in a press release. “We’ve got constructed a differentiated platform that’s world in design, commercially vibrant and structured to unlock untapped worth throughout sports activities.”
However the league is looking for assured contracts value a whole lot of thousands and thousands of {dollars} for star golfers like Jon Rahm and Bryson DeChambeau. The league reportedly spends $40 million to host every occasion and doesn’t have a conventional tv deal within the U.S.
DeChambeau’s contract with Livgolf expires on the finish of this season.
The league is attracting consideration in golf-hungry international locations like Australia and South Africa, however TV rankings in america are stagnant.
Based on LIV Golf, Mr. Davis is chairman and CEO of Pirinate Consulting Group LLC. Pirinate Consulting Group LLC is a privately held consulting agency specializing in turnaround administration, merger and acquisition consulting, restructuring and strategic advisory providers for private and non-private entities.
Mr. Zinman is the founder and managing member of JZ Advisors LLC, an unbiased strategic advisory agency serving firms throughout industries and lifecycles.
