LIV Golf announces a new chairman and seeks new funding without Saudi backing
LIV Golf has appointed a new chairman and is seeking alternative funding after Saudi Arabia's Public Investment Fund announced it will cease financial support after the 2026 season. The league is restructuring its board and pursuing long-term investment partners to ensure sustainability without continued Saudi backing. Meanwhile, questions remain about the future of top players as contracts expire and the PGA Tour considers potential returns under specific conditions.
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Open this photo in gallery:LIV Golf CEO Greg Norman, left, applauds Yasir Al-Rumayyan, governor of public investment fund of Saudi Arabia, at the 2022 LIV Golf Invitational-Chicago tournament in Sugar Hill, Ill.Charles Rex Arbogast/The Associated PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountSaudi Arabia’s sovereign wealth fund officially pulled the plug on future funding for LIV Golf on Thursday, leaving the rival league to find a new path without the largesse that helped it launch four years ago as a threat to the golf establishment.Staff and players have been aware for the last two weeks the Public Investment Fund was only going to support LIV Golf through the end of this year.
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