Liv Golf: the matchup, the stakes, the verdict

LIV Golf board chairman Yasir Al-Rumayyan has stepped down, as Saudi Arabia’s Public Investment Fund plans to cease funding the league after the 2026 season, according to multiple reports and sources. Liv Golf has emerged this Friday as one of the stories drawing attention in Thailand.

Key facts

• LIV Golf board chairman Yasir Al-Rumayyan has stepped down, as Saudi Arabia’s Public Investment Fund plans to cease funding the league after the 2026 season, according to multiple reports and sources.
• Yasir Al-Rumayyan, the chairman of Saudi Arabia’s Public Investment Fund who founded LIV Golf alongside Greg Norman nearly five years ago, has stepped down from his position as chairman of the LIV board, according to three people briefed on the matter.
• Sources: Yasir Al-Rumayyan steps down as LIV Golf chairman as PIF pulls circuit’s funding.
• Al-Rumayyan, an active golfer himself, has championed LIV from the very beginning, including the league’s franchise-based model and team golf competition.
• The Wall Street Journal reported on Wednesday that LIV was planning to tell its staff members and players on Thursday that the PIF would pull its funding of the league at the end of the 2026 season.

What we know

Going deeper, Yasir Al-Rumayyan, the chairman of Saudi Arabia’s Public Investment Fund who founded LIV Golf alongside Greg Norman nearly five years ago, has stepped down from his position as chairman of the LIV board, according to three people briefed on the matter.

On the substance, Sources: Yasir Al-Rumayyan steps down as LIV Golf chairman as PIF pulls circuit’s funding.

Beyond the headlines, Al-Rumayyan, an active golfer himself, has championed LIV from the very beginning, including the league’s franchise-based model and team golf competition.

More precisely, the Wall Street Journal reported on Wednesday that LIV was planning to tell its staff members and players on Thursday that the PIF would pull its funding of the league at the end of the 2026 season.

It is worth noting that when LIV launched in 2022, Al-Rumayyan famously said he would pay a $54M bonus to any player who shot a 54 in competition.

By the numbers

At this stage, Al-Rumayyan’s decision to step down comes as O’Neil, LIV’s CEO since early 2025, has been actively talking up the league’s plan to raise outside funding in an effort to stay afloat in 2027 and beyond.

On a related note, In Augusta earlier this month, O’Neil was touting LIV’s growth in revenue by $100M in 2026 via sponsorships with companies like HSBC, Salesforce and more.

Going deeper, He was part of the small circle that negotiated the “framework agreement” with the PGA Tour in 2023 and was at the White House meeting in early 2025 with President Trump, the PGA Tour’s Jay Monahan, Tiger Woods and Adam Scott, when it appeared the sides were close to hammering out a deal.

On the substance, Al-Rumayyan has been chairman of the PIF since 2015, and he also is chairman of the Premier League’s Newcastle United.

The wider context

On a related note, Source: Some LIV players exploring potential of PGA Tour return.

Going deeper, Further, the London Telegraph reported late Wednesday that LIV CEO Scott O’Neil already had informed some players and staff of the move by PIF, and that Thursday would be a formal announcement by PIF.

On the substance, Al-Rumayyan’s move to step down is another layer in the PIF’s decision to pull back from LIV, as the league is expected to add new board members while it seeks additional investment.

Beyond the headlines, In 2023, he was named among Sports Business Journal’s “Most Influential” in sports.

More precisely, Al-Rumayyan has other sports ties and has been a close ally of President Trump.

The bottom line

• The Wall Street Journal reported on Wednesday that LIV was planning to tell its staff members and players on Thursday that the PIF would pull its funding of the league at the end of the 2026 season.
• When LIV launched in 2022, Al-Rumayyan famously said he would pay a $54M bonus to any player who shot a 54 in competition.
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