The Financial Times and The Telegraph reported on April 16 (Korea time) that LIV Golf held an emergency meeting in New York a day before its Mexico event and was likely to make an announcement related to PIF funding. The outlets said LIV could be forced to shut down if the backing stops.
The Financial Times said PIF initially invested aggressively in sports to expand political, social and cultural influence, but that its approach is shifting amid changes in the international environment, including tensions between the United States and Iran. The paper said PIF has sought to keep LIV going after committing large sums, but believes it cannot provide open-ended support if losses continue.
PIF is estimated to have put about $5 billion (7.38 trillion won) into LIV Golf since the league launched in 2022.
LIV drew attention with rules that set it apart from the PGA Tour, including 54-hole events over three rounds, no cut, and shotgun starts. But it has struggled to secure profitability as attendance and TV ratings fell short of expectations.
This season, LIV expanded all tournaments to 72 holes over four rounds. Still, some star players, including Brooks Koepka and Patrick Reed of the United States, left LIV ahead of the season, prompting assessments that its competitiveness has weakened.
Reuters reported that PIF funding will continue as planned and that the remaining nine events on this season’s schedule will proceed as scheduled.
LIV Golf is also set to be held in South Korea. The season’s eighth tournament is scheduled for May 28-31 at Busan Asiad Country Club.
* This article has been translated by AI.
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