Saudi PIF to Invest Over $6 Billion in LIV Golf by End of 2026
Saudi Arabia's Public Investment Fund (PIF) recently stated that its total investment in global golf league LIV Golf is expected to exceed $6 billion by the end of 2026.
LIV Golf, founded in 2021, is a global men's professional golf tour. PIF is its primary investor and continues to inject capital. On February 1 this year, PIF Governor Yasir Al-Rumayyan approved a new injection of $266 million. This brings PIF's cumulative investment in LIV Golf to at least $5.3 billion.
Details of PIF's annual injections into LIV are as follows:
2021: $1.2 billion
2022: $1.3 billion
2023: $200 million
2024: $1.2 billion
2025: $1.1 billion
2026: $266 million injected so far, with over $700 million more to come
In 2024 and 2025, LIV Golf's average monthly net expenditure remained at $100 million. According to publicly available financial data from LIV Golf Ltd. (the UK company responsible for LIV's non-US operations), the company posted a loss of $461.8 million in 2024 alone. Since its inception in 2021, cumulative losses have exceeded $1.1 billion. LIV Golf Inc., the private company handling US events and other operations, has not disclosed specific financial data.
Above: Promotional poster for the LIV Golf Hong Kong event in March 2026
LIV Golf's funds are primarily used in three areas:
1. Prize money and dividends
Since 2022, total prize money and dividends paid to players and teams by LIV Golf will accumulate to approximately $1.9 billion by the end of this year, with over $500 million planned for the 2026 season. This season's event prize money has been increased from $25 million in the past four seasons to $32.3 million.
2. Player signing fees
LIV Golf stars have received nine-figure signing fees, including Jon Rahm, Bryson DeChambeau, Phil Mickelson, Brooks Koepka, Dustin Johnson, Cam Smith, and others. Many players who joined early in the league's formation also received signing fees of at least $10 million.
3. Event operations and broadcasting
These expenses have not been disclosed publicly.
On the revenue side, LIV Golf generates income primarily through brand sponsorships, international media rights, ticket and merchandise sales, and partnerships with some host governments.
In terms of equity structure, PIF holds majority stakes in 13 of LIV Golf's teams, while team captains hold 25% of their respective teams.
According to a Bloomberg report in January this year, LIV Golf plans to sell minority stakes in two teams to external investors later this year, with a target valuation of $300 million for those two teams, and an overall valuation target of $1 billion for all 13 teams.
｜Sources: Money in Sport, Front Office Sports, Sports Pro
｜Image source: LIV Golf official Facebook