LIV Golf hires restructuring experts as Saudi Arabia PIF ends funding
LIV Golf have hired restructuring specialists to a newly established board of directors as the Saudi Arabian Public Investment Fund plans to halt its investment in the rebel league.
Eugene Davis and Jon Zinman, described by the breakaway leagues as “seasoned experts in complex transactions, turnarounds, and restructurings” will come into LIV Golf as it seeks fresh investment following the fallout of PIFs shift in position towards sports investments.
The league will now week a “diversified, multi-partner investment model, with a formal process underway to attract long-term financial partners”.
PIF has ploughed more than $5bn into LIV Golf since launching it as a challenger to the PGA Tour in 2022 and poaching top players including Bryson DeChambeau and Jon Rahm.
But the sovereign wealth fund’s recent change of strategy looks set to mean it stops bankrolling further losses on the lucrative circuit after the current season.
LIV Golf future uncertain
PIF chair Yasir Al-Rumayyan – who holds the same position at Premier League club Newcastle United – is reported to have stepped down.
“LIV Golf has built something truly differentiated – a global league with passionate fans, world-class talent, and demonstrated commercial momentum,” Davis said.
“The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalise its structure, attract and secure long-term capital, and position the business for growth while continuing to promote the game across the world. We look forward to positioning LIV Golf for future success.”
A statement added: “Our conviction in the Team Golf model has never been stronger. We have built a differentiated platform that is global by design, commercially vibrant, and structured to unlock untapped value across the sport.
“We are now leveraging this momentum to engage in constructive, forward-looking discussions with prospective global investors and partners who share our vision for an inclusive and modernised game. For our fans, players, and partners, our commitment to world-class golf remains unchanged as this process unfolds.”