Sergio Garcia, captain of the Fireballs, said before the opening round of LIV Mexico that players were told this year the tour was expected to run “for many years.” An internal message from CEO Greg O’Neil, however, did not explicitly confirm continuation beyond the current season, even though players at the previous event were told funding was secured until at least 2032.
Industry figures say LIV’s long-term viability depends heavily on continued backing from the Saudi Public Investment Fund (PIF). A senior European golf source suggested LIV leadership may be exploring other revenue lines amid speculation about PIF’s commitment. Garcia rejected suggestions PIF would pull out as inconsistent with what PIF governor Yasir Al‑Rumayyan had told players earlier in the year, adding that “there are always rumours.” BBC Sport has asked LIV for comment; people familiar with LIV’s investments say the tour and its funding are expected to proceed as planned. PIF has not responded to requests for comment.
Financially, LIV has been loss‑making. Reports show net losses of $462m in its international markets outside the US in 2024, with cumulative losses exceeding $1.1bn since 2021. PIF’s overall investment in LIV is reported at about $5bn, while broadcast rights revenues have been tiny by comparison. O’Neil warned in February the business could remain unprofitable for another five to ten years.
Inside PIF, sources told BBC Sport there has been a shift in priorities. A senior Saudi source said late‑year reviews prompted more investment into AI, tech and assets that deliver clearer, sustainable returns. That reappraisal left LIV under closer scrutiny, even as the fund pursues other global sporting ambitions. PIF’s new four‑year strategy, which stresses “sustained value creation” and greater investment efficiency, made no mention of LIV or sport in its media release, fuelling further uncertainty.
LIV’s launch in 2022 upended professional golf by signing established stars away from the PGA Tour with large financial packages. A 2023 agreement between the PGA Tour and the DP World Tour that involved PIF has not yet produced a full merger or settlement. Some LIV‑affiliated players have been allowed to compete again on the DP World Tour and, in limited cases, the PGA Tour under set conditions.
Player departures have also affected momentum. Brooks Koepka’s return to the PGA Tour and Patrick Reed’s exit were notable blows for LIV. O’Neil has said profitability could still be a decade away. If Saudi support were significantly reduced or withdrawn, it would represent a seismic shift: LIV’s model and the scale of its ambitions have been built on deep-pocketed backing, and any pullback would force hard questions about the tour’s future and the kingdom’s broader sporting investments.
LIV’s defenders point to rising revenues, stronger attendances and growing commercial partnerships in the past year. Yet doubts persist about whether the series could survive, or in what form, without PIF. Management is believed to be seeking alternative partners or merger options, but many industry observers say the absence of Saudi funding would leave the tour’s viability in serious doubt.
On the sporting side, LIV has been a mixed success. It attracted high-profile names such as Phil Mickelson, Bryson DeChambeau, Koepka, Cameron Smith and Dustin Johnson, but it has struggled to secure large TV audiences. Some events, including tournaments in Adelaide and Johannesburg, sold out, yet the broader ambition of creating IPL‑style franchise teams has not materialised and the tour has not approached delivering a financial return on the reported Saudi investment.
Competitively, most LIV players have found it hard to match the depth of established tours. While Koepka and DeChambeau won majors while associated with LIV, many others have had limited impact on golf’s biggest stages; Tyrrell Hatton was one of the few LIV players to contend at the recent Masters. The temporary returning‑player programme that brought Koepka back to PGA events underscored ongoing tensions and uncertainty about access routes for players.
Looking ahead, some LIV golfers facing PGA Tour disciplinary measures might choose to play a season on the DP World Tour to try to regain US Tour status. If PIF were to scale back or wind down LIV, one option for Saudi influence in men’s golf might be a strategic investment in the DP World Tour rather than continuing the LIV model. For now, LIV’s future remains contested between continued investment pledges and growing questions over return, strategy and long‑term sustainability.
