Sergio Garcia has revealed that LIV Golf players were assured earlier this year that the Saudi-backed circuit would continue operating for "many years," even as mounting evidence suggests the venture may be on the brink of collapse.
Speaking ahead of the LIV Mexico tournament, Garcia—captain of the Fireballs team—addressed swirling rumors that Saudi Arabia's Public Investment Fund (PIF) is preparing to withdraw its financial backing. "That is not what Yasir [Al-Rumayyan] told us at the beginning of the year," Garcia stated. "He said he is behind us, that they have a project of many years."
Despite these assurances, reports from the Financial Times and other outlets indicate PIF is reconsidering its support. The fund's recently unveiled four-year strategy emphasizes "maximizing impact" and "raising the efficiency of investments"—with no mention of LIV Golf.
"There are always rumours and I cannot comment anything more to you than what we know," Garcia added.
Financial disclosures paint a grim picture for the breakaway tour. LIV's net losses outside the United States reached $461.8 million in 2024 alone, bringing total losses since its 2021 launch to over $1.1 billion. While PIF has invested approximately $5 billion, broadcast rights have generated a mere $2.7 million.
LIV CEO Scott O'Neil acknowledged in February that profitability remains five to ten years away. This timeline aligns with a broader strategic shift within Saudi Arabia, where investments are undergoing "serious review" amid increased focus on sustainable returns.
"More money has been put into AI and the tech sector," a senior Saudi source told BBC Sport. "I don't see how LIV Golf is going to bring a return."
The tour's future appears increasingly precarious despite recent sponsorship deals with Rolex and HSBC. LIV's inability to attract television audiences—even with major champions like Phil Mickelson, Bryson DeChambeau, and Cameron Smith—has undermined its financial viability.
Brooks Koepka's return to the PGA Tour earlier this year dealt another significant blow, followed by Patrick Reed's departure. While some LIV players have been permitted to compete in select PGA and DP World Tour events, the tour's original ambition of creating franchise teams akin to cricket's Indian Premier League remains unrealized.
If Saudi Arabia withdraws support, the fallout would reverberate through professional golf. LIV's emergence in 2022 triggered what many describe as a "civil war" in the sport, luring star players with unprecedented contracts and forcing the PGA Tour to reconsider its structure.
Although a proposed merger between the PGA Tour and PIF was announced in 2023, it has yet to materialize. Should LIV collapse, Saudi Arabia might redirect its investment toward the DP World Tour to maintain influence in professional golf.
For now, players continue to compete under the shadow of uncertainty, clinging to assurances that may no longer reflect Saudi Arabia's evolving investment priorities.