The Saudi Arabia Public Investment Fund has officially announced the reason behind withdrawing funding from LIV Golf.
The PIF said continuing to invest in LIV Golf was "no longer consistent with the current phase of PIF’s investment strategy" as it confirmed that 2026 would be the final season funding the team-based tour.
LIV Golf had earlier announced the formation of a new board to focus on structural changes and attracting new investors to continue operations beyond this year.
LIV Golf players and staff were all told of the news in the past two weeks, before this week being briefed on the new strategy for attracting investment.
After five seasons and over $5bn, though, there'll be no more financial backing coming from the Saudi PIF.
"PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season," read the statement.
"The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy.
"This decision has been made in light of PIF's investment priorities and current macro dynamics. The LIV Golf Board has created a committee of independent directors to evaluate strategic alternatives for its future beyond PIF's funding horizon.
"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."
LIV chairman Yasir Al-Rumayyan is set to leave his post with the PIF's involvement coming to an end - which would be a landmark move as he co-founded the tour alongside Greg Norman.
Al-Rumayyan is a huge golf fan and that passion for the game was behind him getting involved, but after the PIF ploughed so much money into it the time has come for them to scale back.
The PIF statement does confirm though that the rest of the 2026 LIV Golf season should go ahead as planned, after June's new event in New Orleans was postponed.
It looks highly unlikely now that it will go ahead later in the year as suggested, with LIV's big focus now on securing funding and the tour's future.
Events in Mexico, South Africa and Australia in 2027 have already been announced, but without some serious funding and a serious cutting of costs they're likely to be lost.
