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Saudi PIF Ends $5B LIV Golf Funding After 2026

5/1/2026

Summary

PIF Halts Funding

Saudi Arabia's Public Investment Fund (PIF) announced on April 30, 2026 it will stop funding LIV Golf after the 2026 season.
Having invested over $5 billion since its 2022 launch, LIV Golf created an independent board chaired by Gene Davis and Jon Zinman to find long-term partners.
The league will shift to a diversified, multi-partner investment model, finish the 2026 season with seven events, and see Yasir Al-Rumayyan step down as LIV chair.

Summary

PIF Scales Back

The Public Investment Fund (PIF) withdrew from LIV Golf in mid-April as part of a Saudi plan to scale back sports investments.
Officials said falling oil exports—from 10.4 million to 7.25 million barrels per day after the Iranian blockade of the Strait of Hormuz—and a new $9 billion U.S. defense deal prompted the pull-back.
The shift also includes selling Al-Hilal, ending Tom Brady’s flag-football partnership, and abandoning $500 billion Neom funding.

History

Historical Context

The October 1973 OPEC oil embargo slashed Middle-East exports to the West by 60-70%, driving crude prices from $5 to $11.65 per barrel and delivering massive revenue to Saudi Arabia. King Faisal directed that windfall into state development, financing arms purchases and large-scale projects; today Saudi capital is being redirected toward stability and defense rather than high-profile overseas ventures.

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PIF Halts Funding

Saudi Arabia's Public Investment Fund (PIF) announced on April 30, 2026 it will stop funding LIV Golf after the 2026 season.
Having invested over $5 billion since its 2022 launch, LIV Golf created an independent board chaired by Gene Davis and Jon Zinman to find long-term partners.
The league will shift to a diversified, multi-partner investment model, finish the 2026 season with seven events, and see Yasir Al-Rumayyan step down as LIV chair.

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