The Saudi Arabian Public Investment Fund (PIF) claims it "forever changed the game of golf" with its £3.8 billion investment over nearly five years in LIV Golf. While the tour undoubtedly turned professional golf upside down and enriched many players, its future now hangs in the balance after Saudi Arabia walked away from further funding.
A new board is scrambling to find investors to sustain the league beyond the 2026 season. This uncertainty raises questions about the futures of LIV's biggest names, including Jon Rahm and Bryson DeChambeau.
Rahm signed with LIV in December 2023 for a reported $300 million (£222 million), earning nearly $92.5 million in prize money over two completed seasons. However, he is banned from the PGA Tour for at least a year and in dispute with Europe's DP World Tour, making him ineligible for the Ryder Cup. With two years left on his LIV contract, his next move is unclear.
DeChambeau's contract expires at the end of this season. As a two-time US Open winner and major influencer, he is a crucial figure for LIV. New directors Gene Davis and Jon Zinman face the challenge of raising investment without Saudi billions, and keeping DeChambeau will not come cheap. Whether he rejoins the PGA Tour, stays with LIV, or goes solo as a content creator remains to be seen.
Other LIV players are also watching closely. Eight players—including Tyrrell Hatton and Laurie Canter—have joint membership with the DP World Tour after accepting a six-tournament deal rejected by Rahm. They may now play more events on that circuit to secure future privileges.
Some of LIV's highest earners, like Joaquin Niemann ($72 million from 52 appearances) and Talor Gooch ($64.5 million), have few alternatives outside the Asian Tour's International Series. For others, like veteran Englishman Richard Bland, LIV offered a financial windfall: nearly $20 million from 55 tournaments despite no signing fee.
In all, 105 players have competed on LIV, with earnings ranging from $136,000 to Phil Mickelson's reported $200 million signing fee. The PGA Tour, initially rattled by LIV's talent drain, has since strengthened its position by becoming a for-profit company and securing $1.5 billion from the Strategic Sports Group, though it is cutting 4% of its workforce.
LIV's innovations, including 54-hole shotgun starts, have failed to capture strong TV ratings. The tour now hopes to sell its team concept like cricket's IPL, but that requires retaining its biggest names. Whether they stay depends on what the rest of the golf world offers.