LIV Golf might be famous for throwing large sums of money at players, but behind the glitz and the glamour offered by the Saudi-backed league lies a growing financial sinkhole. While the breakaway league has grabbed headlines since its inception for its deep pockets, the financial books tell a very different story — over $1 billion in losses since 2022. And that’s a number Brandel Chamblee didn’t let slide.

Posting on X just a few hours ago, the longtime golf analyst delivered a brutal assessment when he learnt of LIV’s financial crisis. “In fairness, it’s not unusual for startups to lose money in the first few years,” Chamblee began.”Tesla didn’t record its first-ever quarterly profit until 2013, a decade after its founding. But, most startups correct mistakes that led to those losses and make adjustments and improvements on the way to financial success,” the post continued, with a pointed comparison that highlights LIV’s refusal to pivot or evolve despite mounting risk.

“LIV seems convinced that they have what golf is missing, and have not made adjustments in their model, despite compelling evidence that their model isn’t working. As long as the PGA Tour doesn’t alienate the core golfer, I don’t see them leaving for LIV,” Chamblee continued. His stinging critique cuts through the noise, pointing out that LIV Golf isn’t just burning cash; it’s refusing to course-correct. With his post, he essentially called out the league’s apparent unwillingness to learn from its failings.

This loyalty to the PGA Tour is reinforced by both tradition and financial security. The Players Championship now carries a record $25 million purse, with $4.5 million to the winner, while Scottie Scheffler earned nearly $28 million in official prize money during the 2025 season. Beyond the prize funds, long-term sponsorships with brands like FedEx, Rolex, and Titleist remain firmly tied to the PGA Tour, strengthening stability for its players. Combined with golf’s cultural values of respect, discipline, and legacy, it becomes clear why many core golfers see little incentive to defect. LIV’s short-term cash offers simply cannot replicate the prestige, structure, and continuity the PGA Tour provides.

And the numbers back that up. According to documents filed this week at the UK’s Companies House, LIV Golf’s UK entity lost a staggering $461.8 million in 2024 alone, up from $395 million in 2023 and $243 million during the 18 months ending in 2022. That’s more than $1.1 billion in just three years — and that’s only for the UK operations. The books for LIV’s even more extravagant U.S. segment haven’t been disclosed, meaning the damage could be far worse.

And it’s not just critics like Chamblee raising eyebrows. The UK financial filings flag a “material uncertainty” that may cast “significant doubt” over the company’s ability to continue as a going concern. In simple words, if it weren’t for the Saudi Public Investment Fund’s (PIF) constant funding, the lights might already be out for LIV.

Of course, they aren’t exactly short on cash. With $925 billion bankrolled by PIF, LIV Golf has a lifeline through share allocations, with the UK entity raising nearly the same amount it’s lost. Globally, LIV Golf Investments has raised close to $5 billion, with its share capital jumping to $4.89 billion from $4.58 billion previously.

But here’s the thing — all the money in the world can’t buy loyalty from fans or from golfers staying in a sport built on tradition and trust. LIV has made bold moves, but it hasn’t exactly made the right ones. The format remains polarizing, the teams forgettable, and the viewership is clearly not matching the budget. But despite that, LIV is continuing to flex its financial muscles.

Despite the Financial Burn, LIV Golf’s Gamble Continues Into 2026

Despite the jaw-dropping losses, LIV Golf has no plans of slowing down. Its parent company, LIV Golf Investments Ltd, has raised close to $5 billion through share sales, a war chest funded by Saudi Arabia’s PIF. That money has bankrolled a global spectacle, staging tournaments from Riyadh to Hong Kong, Australia to Britain, and luring in some of the sport’s biggest names like Jon Rahm and Dustin Johnson.

But behind the scenes, the party’s starting to feel a little less endless. The 2025 season brought in new leadership with Greg Norman moving out and Scott O’Neil stepping in as CEO, signaling a shift from mindless spending sprees to a more measured approach. The days of throwing $200 million or more upfront to snag stars like Phil Mickelson or Rahm are fading fast. New golfers from the PGA and DP World Tours will have to earn their paychecks, proving they’re worth the big bucks instead of just receiving a bonus signing check.

Still, with a packed 2026 schedule, 13 events boasting $25 million purses and a season-ending team championship, LIV is far from going down. The league’s still riding high on Saudi cash, but even the deepest pockets can’t ignore the mounting losses forever. The question now is whether LIV can finally find a way to turn its spectacular show into a sustainable business before the ship sinks.