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LIV Golf Uncertainty: Saudi Backing Under Scrutiny Amid Financial Losses

BBC Sport •
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LIV Golf players were assured the Saudi-backed venture would operate for "many years," despite mounting speculation about its financial viability. Sergio Garcia, captain of the Fireballs team, reiterated that the Public Investment Fund (PIF) initially promised long-term support but declined to comment on recent rumors of collapse. The Financial Times reported Saudi Arabia’s PIF is reevaluating its $5 billion investment in LIV Golf, with potential withdrawal threatening the tour’s future. Garcia emphasized players remain unaware of any official decisions, stating, "[PIF officials] told us they’re behind us," while acknowledging persistent speculation.

Financial strains deepen concerns. LIV Golf reported $461.8 million in losses outside the U.S. in 2024, accumulating over $1.1 billion since 2021. Broadcast rights generated a mere $2.7 million, far below player salaries. CEO Scott O’Neil admitted profitability could take a decade, while a Saudi source cited shifting priorities toward tech and AI investments. The PIF’s focus on sustainability and the 2034 World Cup has intensified scrutiny of LIV’s viability, with critics questioning its return on investment.

LIV’s high-profile player exodus, including Brooks Koepka’s return to the PGA Tour, underscores its struggles. Despite attracting stars like Phil Mickelson and Dustin Johnson, the tour failed to replicate the IPL’s commercial success, drawing minimal TV viewership beyond sold-out events in Adelaide and Johannesburg. PGA Tour and DP World Tour’s 2023 merger with PIF remains stalled, though limited player participation in established circuits continues.

If Saudi Arabia scales back support, it could reshape global golf. Analysts warn a collapse would ripple through the kingdom’s sports ventures, given LIV’s $5 billion stake and its role in destabilizing professional golf since 2022. For now, uncertainty persists as LIV Golf and Saudi officials avoid public clarification, leaving players and fans awaiting definitive answers.