Is LIV Golf Facing an Existential Crisis?

British Media Raise Possibility of Saudi Public Investment Fund Halting Support

PIF Shifts Stance, Says Indefinite Support Is Difficult

Reuters Reports LIV Golf Operations Will Continue as Planned

Reports have emerged that LIV Golf is facing a crisis of survival.

On April 15 (local time), major British media outlets including the Financial Times and the Telegraph highlighted urgent moves by LIV Golf's management and raised the possibility of the Public Investment Fund (PIF) of Saudi Arabia suspending its support.

The Financial Times, citing a source who requested anonymity, reported, "LIV Golf is expected to make an announcement regarding PIF’s financial support as early as April 16," adding, "If the support is suspended, LIV Golf could be discontinued." It is estimated that PIF has invested approximately 5 billion dollars (about 7.38 trillion won) in LIV Golf since its launch in 2022 over the past four years.

British media reported that LIV Golf is facing a crisis of survival. Photo by AFP Yonhap News

The outlet explained, "PIF initially pursued aggressive investments in sports to expand its political, social, and cultural influence, but recent changes in the international landscape, such as tensions between the United States and Iran, have led to a shift in strategy." It added, "Although PIF has already injected massive funds and aimed to keep LIV Golf running, it is taking the stance that it cannot provide indefinite support if losses continue."

LIV Golf, a latecomer to the scene, garnered attention by introducing bold rules such as 3-round 54-hole tournaments, no cuts, and shotgun starts. However, it struggled to achieve profitability due to lower-than-expected attendance and disappointing viewership ratings. This season, the tour attempted changes such as expanding all tournaments to 4 rounds and 72 holes, but its financial issues reportedly remain unresolved.

Additionally, ahead of this season, LIV Golf's competitiveness weakened as several star players, including Brooks Koepka and Patrick Reed (both from the United States), left LIV Golf and returned to the PGA Tour. The Financial Times reported, "LIV Golf and the PGA Tour at one point discussed a merger, but negotiations are currently suspended," adding, "It is known that the PGA Tour demanded the discontinuation of LIV Golf as a condition for negotiations."

Meanwhile, Reuters reported contrasting information on the same day. Citing sources, Reuters stated, "PIF’s funding will continue as planned, and the remaining nine tournaments of this season will be held as scheduled." LIV Golf is set to hold its sixth tournament of the season in Mexico City, Mexico, starting from April 16.

This content was produced with the assistance of AI translation services.