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LIV Golf funding row: What happens to Dustin Johnson, Mickelson, Jon Rahm, DeChambeau after PIF exit?
LIV Golf’s future has been thrown into major doubt after reports that Saudi Arabia’s Public Investment Fund (PIF) plans to end its financial backing
LIV Golf’s future has been thrown into major doubt after reports that Saudi Arabia’s Public Investment Fund (PIF) plans to end its financial backing after the 2026 season. The Wall Street Journal on Wednesday reported that the league plans to inform players and staff of the decision by tomorrow. The news follows Bloomberg reporting earlier this month that the Saudis were considering to stop funding LIV.
This comes four years and roughly $5 billion in Saudi-backed spending. The breakaway circuit that lured stars like Dustin Johnson, Phil Mickelson, Jon Rahm and Bryson DeChambeau with massive guaranteed contracts may now be nearing its end.
Why LIV Golf’s funding crisis is causing panic
LIV’s model has long depended on massive outside capital rather than sustainable revenue, with annual losses reportedly running into hundreds of millions. While LIV leadership publicly pushed back against recent reports, operational warning signs intensified.
Louisiana officials confirmed there will be no LIV event in New Orleans this June, creating further uncertainty around the 2026 calendar and adding to speculation about whether the league can continue beyond its final eight scheduled events.
LIV CEO Scott O’Neil acknowledged the urgency of the situation, saying: “The reality is that you’re funded through the season, and then you work like crazy as a business to create a business and a business plan to keep us going.”
What this means for LIV’s biggest stars
For players who left the PGA Tour for guaranteed money, the looming question is no longer just reputation, it is their future. Many of LIV’s headline names secured life-changing contracts, but if league funding dries up, they may need to seek competitive futures elsewhere.
That includes:
Dustin Johnson
Phil Mickelson
Jon Rahm
Bryson DeChambeau
Cameron Smith
Rahm, DeChambeau and Smith reportedly declined chances to return to the PGA Tour earlier this year before a February deadline. If LIV’s future collapses, those decisions may now look dramatically different.
DP World Tour emerges as immediate plan
According to multiple reports, LIV players have already begun reaching out to the DP World Tour to explore eligibility options for 2027 and beyond.
DP World Tour chief executive Guy Kinnings confirmed concerns are growing.
“We’re reading the headlines and observing,” Kinnings said. “We’ve got members and dual members [of the DPWT and LIV) and we listen to them. Those kind of headlines that we’ve seen in the last few weeks have got to be concerning for them. But all we do is control what we can control, make sure our product is as good as it can be. I don’t think it can be easy with all of that sort of going on.”
Kinnings also made clear the door is not automatically open. “At the moment, our focus is just on us doing what we can do. We listen to players, listen to their representatives all the time and go from there.”
Could players return to the PGA Tour?
A full-scale PGA Tour return may prove more complicated. Reentry could involve suspensions, negotiations or strategic compromises depending on future merger talks.
Still, if LIV folds, elite players like Rahm and DeChambeau would likely remain highly marketable due to world-ranking relevance, commercial value and Ryder Cup implications. Older stars such as Mickelson may face a steeper path competitively.
What happens next?
The key timeline centers on the remainder of the 2026 season. For now, LIV appears funded through its current campaign, but uncertainty beyond that point is creating growing concern among players, agents and staff.
Kinnings emphasized that the DP World Tour is listening closely while protecting existing members.
“At the moment, we’re in the mode of just listening because we don’t know any more than anyone else does.”
He continued: “But we’ll listen and we’ll make sure that we’re fully informed before we make the decisions that we need to do. But for sure, there are people who are concerned and we will be having conversations with them at the right time.”
Bottom line
Once PIF formally exits, LIV Golf’s existence as currently constructed could effectively end - transforming one of golf’s biggest power plays into one of its most dramatic reversals.
For Johnson, Mickelson, Rahm and DeChambeau, the nine-figure paydays may already be secured. But their long-term competitive futures could soon depend on rebuilding relationships.
