LIV Golf CEO Scott O'Neil has reassured staff that the 2026 season will continue as planned, despite reports suggesting Saudi Arabia's Public Investment Fund may cut its financial backing. In a memo, O'Neil stated that the season will proceed 'at full throttle' and without interruption, emphasizing the organization's focus on its work and the upcoming schedule.
The memo comes after a day of reports indicating that LIV Golf executives had been summoned to an emergency meeting in New York, with speculation that the Saudi Arabian sovereign wealth fund may be reconsidering its investment in the league. The Daily Telegraph reported that the Public Investment Fund, which has already spent $5.3 billion on LIV Golf, may be on the verge of cutting its support, although no final decision has been made. The news has caused confusion among players, who are seeking reassurance about the league's future. O'Neil's memo aims to alleviate these concerns, highlighting the organization's growth and influence.
The LIV Golf season has already seen several events, including victories by Anthony Kim and Bryson DeChambeau. The league has also announced increased prize money for individuals and teams, with a total of $30 million available this year.
However, questions remain about the long-term funding of LIV Golf, particularly in light of the Public Investment Fund's new five-year investment strategy, which prioritizes maximizing impact, efficiency, and governance. The situation has sparked debate among golf pundits, with some suggesting that the league's financial model is unsustainable and that a period of adjustment may be necessary. Sky Sports Golf pundit Paul McGinley noted that the situation is 'fast-developing' and that 'something serious is going on.' The Premier Golf League, a proposed breakaway golf circuit, has also filed a lawsuit against the Public Investment Fund and LIV Golf entities, adding to the uncertainty surrounding the league's future.