LIV Golf is over: Saudi money dries up and the tour shuts down

The tour that was meant to shake up golf has run out of money. LIV Golf, founded in 2022 with billions from Saudi Arabia, is ending its playing operations after almost five years.

What happened?

LIV announced its final end this week. "LIV Golf was fun, challenging, inspiring and at times difficult – but always rewarding," said chief executive Scott O'Neil.

The decision came after a new main sponsor pulled out. BC Partners Credit had said it would invest up to 300 million US dollars in a relaunch, "LIV 2.0". The plan was to hold at least ten tournaments in 2027.

Then the big names walked away. Spaniards Jon Rahm and Sergio Garcia, South Africa's Louis Oosthuizen and England's Tyrrell Hatton all said they would not be part of a new version. The rival PGA Tour (the US circuit) and the DP World Tour (Europe's main tour) had reckoned that up to 30 players might stay. Without the stars, that picture changed.

How did it get here?

LIV launched in June 2022 near London, backed by the PIF, Saudi Arabia's state investment fund. It lured players such as Dustin Johnson, Brooks Koepka, Bryson DeChambeau and Phil Mickelson, all from the US, plus Rahm and Garcia, with offers worth up to three-figure millions.

The cracks showed in April, when the PIF changed its investment strategy and said it would stop funding LIV after the 2026 season. In September, LIV filed for insolvency. The PIF is believed to have put around five billion dollars into the series over the years.

Who is hit?

Germany's two-time major winner Martin Kaymer also played on the tour. In September he told Golf Magazin he would find it a real shame if LIV stopped. He said he had put a lot of energy into the league, the project and its vision, and that he believed it was a way to make the sport bigger.

What's next?

For now, the players are left without their league. The tour's own announcement does not say where individual stars will play next.