LIV Golf searching for new backers after assertion that doesn’t even point out PIF
LIV Golf has confirmed it’s centered on “securing long-term monetary companions” after Saudi Arabia’s Public Funding Fund (PIF) withdrew its backing.
LIV confirmed the information this lunchtime in an announcement that did not even point out PIF however did announce the creation of a newly established impartial board led by Gene Davis and Jon Zinman that will probably be tasked with discovering new funding for the breakaway tour.
It learn: “LIV Golf, the worldwide golf league mixing world-class competitors with leisure and tradition to develop the sport worldwide, as we speak introduced new board appointments because the league focuses on securing long-term monetary companions to assist its transition from a foundational launch part to a diversified, multi-partner funding mannequin.
“This strategic evolution, accelerated by the league’s record-breaking efficiency in 2026, consists of the appointment of a newly established impartial board led by Gene Davis and Jon Zinman, seasoned specialists with confirmed observe data of navigating advanced conditions and unlocking worth for international organisations, to information the league by way of its subsequent part.”
PIF choice continues transfer away from sport
PIF’s choice to stroll away is in keeping with Saudi’s shift away from utilizing sport as a way of gaining international affect whereas the nation’s critics additionally declare it has been used to ‘sportswash’ their atrocious human rights report.
PIF are aspiring to redirect their monumental wealth in direction of sustainable home tasks having seen LIV fail to realize public enchantment and they’re going to stroll away having made losses amounting to billions of kilos.
Whereas LIV intends to hold on with new companions, widespread experiences counsel most of its big-name gamers are exploring methods to return to the PGA Tour.
Brooks Koepka has already made the transfer, having agreed to pay fines totalling round £63million, however the futures of Bryson DeChambeau, Cameron Smith and Jon Rahm stay unsure.
‘LIV Golf’s conviction within the workforce golf mannequin has by no means been stronger’
Davis mentioned: “LIV Golf has constructed one thing actually differentiated – a worldwide league with passionate followers, world-class expertise, and demonstrated industrial momentum. The manager management workforce, together with Jon and I, see a transparent alternative to assist the league formalize its construction, appeal to and safe long-term capital, and place the enterprise for development whereas persevering with to promote the recreation the world over. We stay up for positioning LIV Golf for future success.”
The LIV assertion concluded: “LIV Golf’s conviction within the workforce golf mannequin has by no means been stronger. The league has constructed a differentiated platform that’s international by design, commercially vibrant, and structured to unlock untapped worth throughout the game. The 2026 season has already confirmed the demand for our product, with record-breaking engagement and a 100% improve in income 12 months over 12 months.
“LIV Golf is now leveraging this momentum to interact in constructive, forward-looking discussions with potential international traders and companions who share its imaginative and prescient for an inclusive and modernized recreation. For the league’s followers, gamers, and companions, the dedication to world-class golf stays unchanged as this course of unfolds.”
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