With Saudi Arabia’s Public Investment Fund pulling its funding after the 2026 season, the LIV Golf League has established a new independent board as it tries to survive as a “diversified, multi-partner investment model,” the league announced Thursday.
The new board will be led by investment bankers Gene Davis and Jon Zinman, who said they have “proven track records of navigating complex situations and opening a number of global organizations, guiding the league into its next phase.”
PIF has invested more than $5 billion in LIV Golf since its first tournament in June 2022 and is reported to have spent $100 million per month this year.
PIF governor Yasir Al-Rumayyan is expected to step down as chairman of LIV Golf on Thursday, sources confirmed to ESPN.
The PIF is expected to announce on Thursday that it will not sponsor the LIV Golf League this season. During the broadcast of the tournament in Mexico City earlier this month, LIV Golf CEO Scott O’Neill said the PIF is committed to the league continuing its seven remaining tournaments this season.
The league and Louisiana Governor Jeff Landry announced Tuesday that the tournament planned for New Orleans has been postponed and a possible date is being considered.
An LIV Golf League official told ESPN on Thursday that next week’s tournament at Trump National Golf Club outside Washington, DC, will go ahead as planned.
“The reality is you’re funded during the season and you work like crazy as a business to create a business and a business plan to keep us going,” O’Neil said during the opening round broadcast in Mexico City. “But that’s no different than any other equity-funded private enterprise in human history.”
A news release from LIV Golf said the league is focused on “finding long-term financial partners to support its transition from a grassroots launch phase to a multi-partner investment model.”
Sources said the league is open to a number of new formats, including several tournaments, holding international-only events or a possible merger with the DP World Tour.
“LIV Golf has built something truly unique — a global league with passionate fans, world-class talent, and demonstrated commercial momentum,” said Davis, who will serve as chairman of the Independent Directors Committee. “The senior leadership team, along with Jon and I, see a clear opportunity to help the league formalize its structure, attract and secure long-term capital, and position the business for growth while continuing to promote the sport globally. We look forward to positioning LIV Golf for future success.”
The league said revenue has increased more than 100% since 2025 and that four of its events and 10 of its 13 teams will turn a profit this season.
“Our conviction for the club golf model has never been stronger,” the league said in a statement. “We’ve built a decentralized platform that’s global in design, commercially viable, and designed to unlock untapped value in every game.”
However, the league is on the verge of receiving guaranteed contracts worth hundreds of millions of dollars for golfers such as Jon Rahm and Bryson DeChambeau. The league reportedly spends $40 million on each of its events and does not have a traditional TV contract in the US.
DeChambeau’s contract with LIV Golf expires after this season.
Although the league has gained traction in golf-hungry countries like Australia and South Africa, its TV ratings in the US have been low.
Davis is chairman and CEO of Pirinate Consulting Group, LLC, a privately held firm specializing in change management, mergers and acquisitions, restructuring, and strategic advisory services for public and private companies, according to LIV Golf.
Zinman is the founder and managing member of JZ Advisors LLC, an independent strategic advisory firm serving companies across every industry and life cycle.
