In the wake of the Saudi Public Investment Fund backing out of LIV Golf at the end of the 2026 season, the league announced Thursday that it was establishing an independent board as it attempts to secure other long-term investors and continue to play beyond this year.
The Wall Street Journal on Wednesday, confirming what LIV CEO Scott O’Neil said in a now-deleted clip on social media, reported that LIV had notified all employees and players that the league would be without the PIF’s considerable financial assistance at the conclusion of this season, which is scheduled through the end of August.
Sports Business Journal reported Wednesday that Yasir Al-Rumayyan, the chairman of the PIF who helped launch LIV along with Greg Norman, will step down from his role with the league. On Thursday, LIV announced that it had appointed Gene Davis and Jon Zinman to the board to “help guide the league through its next phase” and find more investment.
According to a LIV press release, Davis is the chairman and CEO of PIRINATE Consulting Group that specializes in “turnaround management, merger and acquisition consulting, restructuring and strategic advisory services,” while Zinman is the founder and managing member of JZ Advisors, boasting “expertise in driving financial and operational transformation for companies navigating complex reorganizations.”
The PIF has not yet commented on its decision to stop funding the league that it has backed since its inception in 2022.
While seeking new financial partners, LIV has touted its year-over-year increases in revenue, sponsorship and ticket sales. The league is committed to the team model and is reviewing options for team equity sales.
LIV is scheduled to play next week at Trump National D.C.