LIV Golf chairman Yasir Al-Rumayyan is reportedly set to step down from his position as it was confirmed the Saudi PIF will withdraw funding from the team golf league at the end of the season.
Al-Rumayyan was the architect of LIV Golf alongside Greg Norman, but after ploughing more than $5bn into the project, the PIF will officially cut off funding at the end of the 2026 season.
Sources say LIV Golf is “currently engaging in constructive discussions with prospective global investors” but it’s clear the current model will have to change if it is to survive.
The reported departure of Al-Rumayyan is the key move though, as it’s well known his love for golf was the catalyst for the Saudi PIF getting involved in the sport.
With Norman as the face of business, Al-Rumayyan bankrolled huge outlays of cash to sign the likes of Phil Mickelson, Dustin Johnson, Brooks Koepka, Bryson DeChambeau and Jon Rahm.
The spending was always going to wind down at some point, but it will now come to a complete end later this year.
Norman himself recently said his replacement Scott O’Neil would have to get out and find new funding – and that appears to be the plan moving forward.
O’Neil had said the LIV Golf season would continue “at full throttle” during a pssionate defence of the league at LIV Golf Mexico.
(Image credit: Getty Images)
The response was after reports emerged just before Mexico of the PIF withdrawing funding, leading O’Neil to appear on the TV broadcast and presenters Arlo White and David Feherty to hit out at the media for the “absolute nonsense” being written.
O’Neil did later admit to UK broadcaster TNT Sports…
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