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Two weeks ago, LIV Golf did its best to conceal the fact that the Saudi Public Investment Fund would cease to bankroll the league after the current season, only to have LIV CEO Scott O’Neill let the truth slip during a television interview.

This week, the intentions of PIF and consequences to LIV are known by all.

LIV Golf announced Thursday that it has established a new independent board that will attempt to keep the league afloat utilizing a “diversified, multi-partner investment model.” In other words, a model that doesn’t include PIF.

PIF Governor Yasir Al-Rumayyan no longer will serve as LIV Golf chairman, another unmistakable signal that the Saudi sovereign wealth fund worth an estimated $1 trillion is cutting ties with financially troubled LIV.

LIV Golf was supposed to be a key component in Saudi Crown Prince Mohammed bin Salman’s “Vision 2030” plan to diversify the kingdom’s economy away from oil. PIV lured megastar golfers Phil Mickelson, Jon Rahm, Bryson DeChambeau, Dustin Johnson and others away from the PGA Tour by shoveling hundreds of millions of dollars into their bank accounts.

Al-Rumayyan, Prince bin Salman’s trusted technocrat, was charged with implementing the plan, but LIV Golf has failed to attract significant viewership or commercial sponsors despite innovations such as a 54-hole format and a team model.

When LIV and the PGA Tour came to a short-lived, tentative agreement to end pending litigation and potentially join forces in 2023, Al-Rumayyan was a key figure in the negotiations.

A last-ditch effort to broker a merger between the rival leagues took place in the White House in February 2025 when President Trump hosted Al-Rumayyan, PGA Tour commissioner Jay Monahan and Tiger Woods. No agreement was reached.

Now, apparently, PIF will attempt to turn its attention to initiatives that don’t bleed billions. The fund has invested more than $5 billion into LIV Golf since it was launched in 2022 and is reportedly spending $100 million per month this year.

The wealthy but suddenly unmoored LIV golfers have been left to scramble like a weekend hacker trying to salvage a bogey after chipping into a sand trap.

LIV Golf Louisiana announced that the tournament scheduled for June 25-28 in New Orleans has been postponed. A new date hasn’t been set. However, an official told ESPN on Thursday that next week’s tournament at Trump National Golf Club outside Washington, D.C., will take place as planned.

Six other tournaments remain on the schedule that concludes with LIV team championships on Aug. 27-30 at The Cardinal at Saint John’s in Michigan. Tournaments outside the United States are scheduled for South Korea, Spain and Great Britain.

Hired Thursday to come up with a financial model to keep LIV afloat sans PIF are Gene Davis and Jon Zinman, described in a LIV statement as “seasoned experts with proven track records of navigating complex situations and unlocking value for global organizations.”
 
LIV Golf’s contorted spin on acknowledging that PIF will no longer subsidize the league was a statement saying it will focus on ”securing long-term financial partners to support its transition from a foundational launch phase to a diversified, multi-partner investment model.”

Davis, the newly appointed chairman of the LIV Independent Directors Committee, sees opportunity in the face of a PIF-less future.

“LIV Golf has built something truly differentiated — a global league with passionate fans, world-class talent, and demonstrated commercial momentum,” he said in a statement. “The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalize its structure, attract and secure long-term capital, and position the business for growth while continuing to promote the game across the world.

“ We look forward to positioning LIV Golf for future success.” 

Shortly after his attorney entered a plea of not guilty, Tiger Woods announced he will seek treatment “to prioritize my well-being and work toward lasting recovery.”

The golf legend was arrested Friday on suspicion of DUI with property damage and refusal to submit to a urinalysis stemming from a rollover crash near his home on Jupiter Island, Fla. Hydrocodone pills were found in his pocket and a sheriff’s deputy noted in the arrest affidavit that Woods had bloodshot eyes and dilated pupils and was “sweating profusely” while performing field sobriety tests.

Attorney Douglas Duncan appeared in Martin County, Fla., court Tuesday, waived arraignment on Woods’ behalf, entered not guilty pleas on the two misdemeanor charges and requested a trial by jury.

Hours later, Woods posted a statement to his social media accounts:

“I know and understand the seriousness of the situation I find myself in today. I am stepping away for a period of time to seek treatment and focus on my health. This is necessary in order for me to prioritize my well-being and work toward lasting recovery.

“I’m committed to taking the time needed to return to a healthier, stronger, and more focused place, both personally and professionally. I appreciate your understanding and support, and ask for privacy for my family, loved ones and myself at this time.”

Although he hadn’t committed to playing, Woods had been toying with returning to competition for the first time since 2024 at next week’s Masters at Augusta National Golf Club, where he has won five championships.

Now he won’t even make an appearance, let alone play. Woods was scheduled to attend the opening of “The Patch,” a municipal golf course in Augusta that he helped redesign. He also was expected to attend the annual Champions Dinner on April 7.

“Augusta National Golf Club and the Masters Tournament fully support Tiger Woods as he focuses on his well-being,” Masters chairman Fred Ridley said in a statement. “Although Tiger will not be joining us in person next week, his presence will be felt here in Augusta.”

Woods, 50, last competed on the PGA Tour in July 2024 when he missed the cut at the Open Championship, posting an 8-over 79 and 6-over 77 at Royal Troon. It marked his third consecutive missed cut in a major that year.

Widely considered the greatest golfer of all time, Woods has amassed 82 PGA Tour wins, including 15 majors. He has competed sporadically the last four years because of injuries, but has become an increasingly important figure off the course, serving as chairman of the PGA Tour’s Future Competition Committee and serving on the tour’s Enterprises Board, Policy Board and Player Advisory Council.

When arrested Friday, Woods was asked if he had any medical conditions. He replied that he has had seven back surgeries and at least 20 leg operations.

He also has had several car accidents.

Around Thanksgiving 2009, a report that Woods had been in a car accident near his home erupted into a major scandal involving allegations of affairs. It resulted in Woods’ divorce from Elin Nordegren, the mother of his children.

In 2021, Woods was seriously injured in a rollover crash near Rancho Palos Verdes the morning after the Genesis Invitational, which he hosted at Riviera Country Club. He had to be extricated from the wreckage of the Genesis GV80 SUV that he was driving

Woods underwent “a long surgical procedure” on his lower right leg and ankle, according to a statement he released. Doctors inserted a rod into his leg and placed screws into his foot and ankle.