Saudi Arabia's Public Investment Fund appeared poised to withdraw its backing from LIV Golf, the breakaway league it launched in 2022, according to multiple reports citing sources familiar with the matter.

The Financial Times reported Wednesday that the PIF, which has invested roughly $5 billion in LIV Golf, was on the verge of announcing the decision, potentially as soon as Thursday. No final determination had been made, and discussions could shift, but the move stemmed from LIV's persistent financial shortfalls, including a nearly $600 million loss in 2024, and failure to secure a significant U.S. television audience.

Contributing factors included low viewership ratings, the absence of new high-profile player signings since Jon Rahm's 2023 arrival, and stalled merger talks with the PGA Tour. The PIF recently approved a 2026-2030 strategy emphasizing domestic investments and efficiency, with no mention of golf or international sports ventures, amid regional tensions.

LIV Golf Chief Executive Scott O'Neil pushed back against the reports in a message to players and staff, calling them false rumors and affirming the league was "100% funded through the rest of the year." "Our season continues exactly as planned, uninterrupted and at full throttle," he wrote, as the tour prepared for its sixth event of 14 in Mexico City. O'Neil had previously indicated funding extended through 2032, though his latest communication omitted reference to 2027.

Players expressed unawareness of any shutdown. Team captain Sergio Garcia said during a press conference that the rumors had not reached the field. The league's model, featuring team formats, shorter events, and massive guaranteed purses, attracted stars like Phil Mickelson, Bryson DeChambeau, and Rahm with contracts worth hundreds of millions but strained relations with the PGA Tour.

The PGA Tour, which sued LIV in 2022 before a framework agreement halted litigation, viewed the rival as an existential threat backed by unlimited foreign cash. Commissioner Jay Monahan once described it as unable to compete with a "foreign monarchy spending billions." PGA Tour policy board member Brian Rollap expressed interest in reintegrating LIV players, noting fans wanted the best fields together.

As of Thursday evening, no official announcement had emerged from the PIF or LIV Golf. A Saudi source told CNN the fund would not exit this year, ensuring the 2026 season proceeds. The potential shift could reshape professional golf, forcing players back to established tours and ending a divisive chapter that split the sport and drew antitrust scrutiny.

LIV Golf defended its mission to grow the game globally, but critics highlighted limited returns on investment despite the PIF's sportswashing efforts to polish Saudi Arabia's image.