LIV Golf joke about imminent demise with reports Saudi Arabia funding has been cut originally appeared on The Sporting News. Add The Sporting News as a Preferred Source by clicking here.
The reported imminent demise of LIV Golf hasn’t stopped their social media team from joking about the situation.
Advertisement
There has been rumours, including a report per the Financial Times, suggesting Saudi Arabia is considering withdrawing their funding from the tour – in a move that would likely spell the end of event.
But in a swipe toward the speculation, LIV Golf’s X account suggested it was a ‘slow news day’ before promoting the latest event in Mexico City.
MORE:Masters gnome goes for jaw-dropping amount in record sale of Augusta memorabilia
In reality, the future of LIV Golf does look shaky, with chief executive Scott O’Neill insisting the tour will be played as scheduled throughout 2026 and will be fully funded until at least the end of the year.
Advertisement
There is suggestion that Saudi Arabia’s Public Investment Fund (PIF) is looking to invest their money in different areas such as technology and artificial intelligence, particularly with the recent strain of the war in the Middle East.
While the PIF is worth almost $1 trillion, they have ploughed nearly $5 billion into LIV Golf since it started in 2022.
According to The Telegraph, LIV Golf is losing close to $100 million a month, with O’Neill allegedly telling the tour’s players that it wouldn’t be profitable for five-to-10 years.
The latest LIV Golf event in Mexico will begin tomorrow at the Club de Golf Chapultepec just outside the nation’s capital.
Read the full article here