For four years, Saudi Arabia was the answer to LIV Golf’s every financial question. The answer is no longer there. Whether the league survives 2027 depends on what replaces it and if private investors see a real business where PIF saw a geopolitical project.

According to Axios, LIV is seeking up to $250 million from outside investors, with Ducera Partners managing the process. The pitch is to raise the full $250 million, along with projecting profitability within 20 months. If it raises less, around $150 million, it would lean on rising team valuations and a new media rights deal to fill the gap. Ideally, LIV needs to close a deal by early October, as around this time is when remaining Saudi cash runs out.

The Public Investment Fund is estimated to have pumped between $5 and $8 billion into LIV since its 2022 launch. It confirmed it would end financial support after the 2026 season. The decision is tied to the change in strategy that PIF has had, and it no longer has the bandwidth to invest in a loss-making enterprise. Even LIV’s architect and board chairman, Yasir Al-Rumayyan, has already stepped down.

CEO Scott O’Neil has been clear about his investor pitch. “If you ask me where the value of this business is, it’s in the teams,” he said at a press conference ahead of LIV Golf Virginia in May. LIV had already begun exploring minority team investments at $300 million valuations, working with Citi’s sports advisory group, before PIF pulled out entirely.

Moreover, LIV signed a television and streaming deal with Sony Pictures Networks India for the media side in India, Pakistan, Bangladesh, Sri Lanka, and surrounding markets in April 2026. It makes the investor pitch look better on paper, although many pointed out the irony of a multi-year deal signed by a league that isn’t sure if it will even have games in 2027.

The Saudi connection, which was the financial backbone of LIV, now muddies the waters. The league’s pitch to new investors is that ditching PIF is a selling point because that backing had previously put off sponsors, broadcasters, and audiences. But the figures are hard to ignore. LIV had racked up some $1.4 billion in losses by 2025, and earlier this year, O’Neil admitted it could be a decade before the old model breaks even.

If the funding falls short, there is always the option of bridge financing, but this only puts off the larger question. LIV still has events, talent, and a broadcast footprint. Whether that will be sufficient to write a check for $250 million is now up to the market.

As the league chases its goals, LIV players are chasing theirs.

LIV Golf pros battle for U.S. Open spots in final qualifying

Nineteen LIV Golf players have entered the U.S. Open final qualifying across Dallas, England, and Japan. 14 of them are heading to the Dallas Athletic Club on Monday for a 36-hole sprint across the Jack Nicklaus-designed Blue and Gold courses.

Sergio Garcia arrives in Dallas with momentum, having finished solo second at LIV Golf Virginia last week. Graeme McDowell has a different kind of motivation, as the 2010 U.S. Open champion is just trying to qualify for the tournament he once won.

David Puig was initially entered in Dallas but gained entry into the field through a direct exemption after moving to 58th in the world ranking with a T18 result at the PGA Championship. His exit opens up a bit of room for those still searching for a spot.

Dallas is the deepest of the three qualifying sites. Walton Heath in Surrey and Hino Golf Club in Japan round out the remaining stops, with Japan scheduled for May 25. For LIV players without a major exemption, these qualifiers are the last realistic route to Shinnecock Hills on June 18.

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