Rumors of LIV Golf shutting down intensify as it faces risks of funding cuts

Saudi Arabia's Public Investment Fund (PIF) may soon cut funding to LIV Golf, reports say. This could possibly end the four-year-old breakaway golf tour. A formal announcement might come as early as Thursday, according to the Financial Times, as cited in Yahoo Sports.

Speculation erupted after a social media post hinted at a "bombshell announcement." LIV Golf officials held an emergency meeting in New York, per USA Today. No executives appeared at the Mexico City event site.

PIF's massive stake at risk

PIF has poured about $5.3 billion into LIV Golf so far, USA Today confirmed. This includes a recent $267 million injection approved by Gov. Yasir Al-Rumayyan in February. According to USA Today’s report, net spending hit $100 million monthly in recent years.

Projections show total investment topping $6 billion by year-end. Prize money rose to $32.3 million per tournament this season. Yet TV ratings remain low, Yahoo Sports reports, and no big-name signings have followed Jon Rahm's 2023 move.

Players like Brooks Koepka and Patrick Reed recently returned to the PGA Tour. PIF's latest priorities omit golf or sports mentions, Yahoo Sports says. Some link timing to global tensions, like the war in Iran.

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Players push back on talk

Sergio Garcia addressed rumors at a Mexico City presser. "No, sincerely, we haven't heard anything," Garcia said, according to Yahoo Sports. He added that Al-Rumayyan told the players at the beginning of the year that he's “behind us with a long-term project.”

Golf insider Ryan French fueled buzz on X. "I think everybody should probably stay near their phones… It's happening. It's definitely happening," French said on a live stream, as reported by USA Today.

LIV's lasting golf impact

LIV Golf launched in 2022 with team formats and a global focus. Stars like Rahm, Bryson DeChambeau, Dustin Johnson, and Phil Mickelson signed huge deals, some over nine figures, Yahoo Sports confirms.

It forced PGA Tour changes: bigger purses, outside investors like Steve Cohen, and new events. A 2023 merger framework stalled. LIV won small victories, Yahoo Sports says, like Koepka's 2023 PGA Championship.

Events in Australia and South Africa drew crowds. Anthony Kim returned after a long absence. Still, no Official World Golf Ranking points hurt major access, Yahoo Sports notes.

The tour transformed pro golf pay and structure forever. Its fate hangs on PIF decisions amid ongoing whispers.