Jon Rahm, one of the most prominent figures on the LIV Golf circuit, told reporters that he isn’t "too worried" about the breakaway league’s future, even as speculation about its financial footing swirls. Rumors have been circulating that the Saudi Arabian Public Investment Fund (PIF), the primary backer of LIV Golf, might be pulling back its financial support. The latest PIF five‑year investment plan makes no explicit reference to continued funding for the league, prompting questions about the sustainability of the venture.
Despite the growing uncertainty, the most recent LIV event – LIV Mexico – kicked off on Thursday at the historic Club de Golf Chapultepec in Mexico City. The tournament proceeded as scheduled, although viewers experienced a few technical glitches during the broadcast. LIV Golf officials blamed the interruptions on local power outages that temporarily disrupted the feed.
Rahm entered the tournament with a solid performance, carding a 65 in the first round that placed him in solo second, three strokes behind leader Victor Perez. After his round, Rahm was asked about the swirling gossip surrounding the league’s finances.
He replied that he wasn’t overly concerned, explaining that until the league’s leadership confirms or denies the rumors, there is little point in dwelling on them. "Until the people in charge tell me whether the rumors are valid, it didn’t make sense for me to waste time worrying about it," he said.
He added that the players were focused solely on preparing for the tournament. "We weren’t here before the tournament week; we knew we were going to play, so the idea was to prepare for a tournament and that’s it," Rahm explained. When the rumors erupted, they did so so quickly that he didn’t have a chance to let them affect his mindset.
"Everything came out so fast that I wasn’t too worried about it, because normally, before rumors surface, we already know something," he noted. The speculation intensified after The Daily Telegraph reported that LIV Golf executives were summoned to an "emergency meeting" in New York. The Financial Times later suggested that the PIF was on the brink of reducing its backing, though no final decision had been announced.
Money in Sport, a sports‑finance newsletter, disclosed that LIV Golf had already spent $5.3 billion (about £3.9 billion) and was projected to exceed $6 billion (£4.42 billion) by year‑end. Sky Sports observed that many players were left in the dark, seeking reassurance about the league’s stability, while team captains remained uninformed about any imminent announcements. Since its launch in 2022, LIV Golf has attracted a wave of high‑profile talent by offering massive signing bonuses – roughly $1 billion in total – to PGA Tour stars such as Bryson DeChambeau, Brooks Koepka, Phil Mickelson, Dustin Johnson and, of course, Rahm himself. This year, prize money for both individuals and the 13 participating teams was boosted to $30 million, a clear signal that the league is still investing heavily in its product.
Scott O’Neil, the CEO of LIV Golf, tried to calm nerves during Thursday's televised broadcast, emphasizing that the business model remains sound. "If we keep the trajectory going and the revenue growth continues, this will be a very successful business for a long time," O’Neil asserted. He highlighted that the league generated almost half a billion dollars in sponsorship revenue last season, with marquee partners such as Rolex, HSBC, and Aramco backing the venture. "From a business standpoint, we are in a wonderful position," O’Neil said, adding that the league has proven it can stage compelling events and grow the sport.
Looking ahead, O’Neil hinted at a strategic shift. He said LIV plans to blend its format with traditional national opens, which he believes are under‑utilised assets in the golfing world. "National opens are the most under‑appreciated, under‑marketed, under‑developed assets in golf," he explained. By integrating these historic tournaments, LIV hopes to deepen its grassroots impact and broaden its global footprint.
He also made a broader appeal to various stakeholders. "If I were a PGA Tour player, I would want LIV to survive – the prize purses are attractive and competition is good for business.
If I were a TV network, I would love LIV to thrive because it makes great television. If I were a journalist, it adds spice to the news.
And if I were a fan, I want more golf around the world," O’Neil concluded. "There is far more to gain from LIV existing than from its disappearance." LIV Golf was founded in 2021 with funding from the Saudi PIF, positioning itself as a direct competitor to the PGA Tour and the DP World Tour. Its emergence created a clear split in professional golf, prompting several top players – including Mickelson, Rahm and Johnson – to defect to the new circuit.
Initially, LIV events were 54‑hole tournaments, but the schedule will expand to 74 holes beginning in 2026, a move designed to secure Official World Golf Ranking points. The league also announced a further increase in prize money for 2026, raising the total purse to $30 million, with the team prize doubling to $10 million alongside a $20 million individual purse. The growth in financial incentives reflects LIV's ambition to attract and retain elite talent. However, the roster has seen some turnover.
Five‑time major champion Brooks Koepka and former Masters winner Zach Johnson have recently departed, underscoring the volatility that can accompany such a high‑stakes venture. Sky Sports News chief correspondent Kaveh Solhekol offered additional context about the PIF's shifting priorities. He explained that the sovereign wealth fund, which invests Saudi Arabia's oil revenues to diversify the economy, has released a new five‑year strategy that does not list sport as a primary focus.
While sport may still fall under broader categories like tourism and entertainment, the omission suggests a more cautious approach. "They are re‑thinking how much money they invest in sport and want a clear business return," Solhekol said.
He noted that the PIF has already poured about $5 billion into LIV, and the league is expected to operate at a loss for the next five to ten years. Nevertheless, Solhekol believes Saudi Arabia will continue to support major sporting properties such as football, Formula 1, boxing, tennis and, of course, golf, but with tighter financial discipline.
"They don’t want to be seen as simply throwing money at everything; they need deals that make sense and deliver a return," he added, also mentioning the broader economic impact of the ongoing Middle‑East conflict on Gulf economies. In summary, while rumors about funding cuts have created unease, key figures like Rahm and O’Neil remain confident that LIV Golf can weather the storm. The league continues to invest in prize money, expand its schedule, and explore partnerships with historic national opens.
For players, broadcasters, journalists and fans, the prospect of a vibrant, globally‑focused golf circuit remains appealing, even as the financial underpinnings are being reassessed. The coming months will reveal whether the PIF decides to maintain its backing or recalibrate its sports portfolio, but for now, the competition on the course goes on, and the conversation about LIV Golf's future is far from settled.