LIV Golf has enlisted a heavyweight cadre of financial advisers in a desperate bid to secure a multi‑billion‑dollar funding lifeline after its Saudi sovereign backers signaled a withdrawal of support. According to Sky News reporter Mark Kleinman, the league has turned to restructuring specialists at AlixPartners to craft a fresh business plan aimed at attracting new external investors.
Sources close to the organization indicate that LIV Golf is also on the verge of retaining a leading investment bank to spearhead its capital‑raising campaign. The move comes as the league initiates discussions with potential backers, hoping to replace the financial cushion that the Public Investment Fund (PIF) of Saudi Arabia is set to withdraw at the end of the current season.
The confirmation that PIF will cease funding LIV Golf after the 2026 season has ignited a frantic scramble to preserve a competition that features some of the world’s most prominent golfers, including Jon Rahm, Bryson DeChambeau, and a host of other high‑profile names. Insiders suggest that AlixPartners’ involvement may also serve as a contingency measure, preparing the league for a possible wind‑down or insolvency process should new capital fail to materialise in the coming months.
One source, however, emphasized that the advisory firm’s role is primarily to develop "a well‑developed, credible financial plan" for prospective investors, while the board will "evaluate all options for LIV." In a statement to Sky News, a LIV Golf spokesperson affirmed, "LIV Golf has engaged experienced advisers across disciplines to identify and secure long‑term strategic investment partners and guide us through our next phase." LIV Golf’s Saudi backers have poured billions of dollars into the venture, seeking to establish a breakaway tour that could rival the PGA Tour and become the premier global golf league. Despite lavish contracts that have lured top talent—Jon Rahm reportedly received a $300 million (approximately £222 million) payout to join the league—profitability has remained elusive.
The league is now in its fourth full season, featuring 13 teams and 57 players from 21 nations competing across ten countries on five continents. This week, the league announced the appointment of two restructuring specialists, Jon Zinman and Gene Davis, to its board of directors.
Both bring extensive experience in corporate turnarounds and are expected to help LIV Golf formalise its structure, attract long‑term capital, and position the business for sustainable growth while continuing to promote the sport worldwide. Davis remarked, "LIV Golf has built something truly differentiated—a global league with passionate fans, world‑class talent, and demonstrated commercial momentum. The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalise its structure, attract and secure long‑term capital, and position the business for growth while continuing to promote the game across the world. We look forward to positioning LIV Golf for future success." The Saudi funding pull‑back had been anticipated for several weeks.
CEO Scott O'Neil had previously insisted that the series remained viable, but recent developments have forced a more sobering outlook. A scheduled tournament in Louisiana, slated for late June, was cancelled amid concerns that the concurrent FIFA World Cup—being hosted across the United States, Canada, and Mexico—would detract from spectator attendance and television viewership for the golf event.
Finding new investors will be a formidable challenge. LIV Golf’s business model relies heavily on substantial spending commitments and sponsorships linked to the Saudi state. To diversify its financing, the league has already begun exploring the sale of stakes in individual teams, with Citi’s investment bankers advising on the process. LIV Golf is the most visible example of a series of sporting ventures financed by Saudi Arabia’s vast sovereign wealth, part of a broader strategy to expand the kingdom’s global influence through sport.
The PIF also holds a majority stake in Newcastle United Football Club and has been active in boxing financing, among other initiatives. Earlier this week, PIF announced its decision to fund LIV Golf only through the remainder of the 2026 season, stating that the "substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy." The fund cited its own investment priorities and macro‑economic dynamics as the rationale for the shift. PIF added that the LIV Golf board has formed a committee of independent directors to evaluate strategic alternatives beyond the fund’s support horizon.
Despite the funding uncertainty, PIF maintained that its commitment to investing internationally remains strong, especially in sports, which it continues to view as a priority sector. The statement concluded, "LIV Golf has substantially grown the game globally through its transformational and positive impact.
It has forever changed the game of golf for the better. PIF remains committed to deploying capital internationally in line with its investment strategy, including its substantial current and future investments in various sports as a priority sector." The league now faces a critical juncture: secure fresh capital, restructure its operations, or potentially face a wind‑down.
The involvement of AlixPartners and the pending investment bank partnership signal that LIV Golf is taking decisive steps to chart its future, whether that entails a revitalised, investor‑backed expansion or an orderly exit from the market. The outcome will shape not only the destiny of the league itself but also the broader landscape of professional golf, as players, sponsors, and fans watch closely to see whether the ambitious Saudi‑backed venture can survive its funding crisis and continue to challenge the established order of the sport.