LIV Golf has already cut its champion’s bonus from $18 million to $6 million, cut down the schedule, and is now rebuilding its entire business model without Saudi money. Cameron Smith has seen every bit of it happen in real time, and his verdict asks for things to return to normalcy.

Speaking exclusively to Sam Frost of the US Mirror, Smith was asked whether he would stick with LIV if the league survived but with far less prize money on offer.

“This has been an awesome four or five years for us golfers, for everyone around the world. It’s changed a lot of things, but I think realistically, it’s time for prize money to come back to the way it was. It was obviously not working, and it’s pretty far-fetched, realistically. So we’ll see what happens. I’m sure there are going to be a lot of changes, particularly with prize money next year.”

For the 2026 season, LIV had already cut its individual championship bonus pool by $20 million. The champion’s payout dropped from $18 million to $6 million, second place from $8 million to $3 million, and third from $4 million to $1 million.

LIV Golf is facing funding cuts because Saudi Arabia’s Public Investment Fund (PIF) announced it will stop bankrolling the league at the end of the 2026 season. PIF has spent nearly $5 billion in losses and capital investments on LIV Golf, with ongoing operational losses reportedly running at roughly $100 million per month, according to sports scientist Hans Westerbeek. Following the losses, the Saudis are shifting their financial priorities to other ventures.

Smith’s realism reflects LIV’s accelerating restructuring. LIV Golf will slash its schedule from 14 events to 10, focusing on key international markets such as Australia and South Africa. The new model will give top players a stake in the league itself, keeping them on board.

LIV has enlisted Gene Davis and Jon Zinman as independent board members to help guide the financial restructuring. Ducera Partners, a boutique investment bank, is already pitching prospective investors and is looking to raise between $250M and $350M with a projected path to profitability by 2028.

Interestingly, earlier in May, Cameron Smith publicly dismissed concerns that the circuit was nearing its end and expressed confidence.

“Since joining LIV, I have learnt to deal with speculation and reports, so it hasn’t really changed,” he said. When asked directly about the league’s future, Smith replied: “Every assurance. Absolutely. That’s the goal, 100%.”

The recent cuts forced a sharp change in his stance. LIV CEO Scott O’Neill has said the league must adapt its financial model to secure investment beyond 2026. Not only that, but Bloomberg reports suggest the league has even made arrangements to file for bankruptcy in the US under Chapter 11 if it can’t raise new funds.

Meanwhile on the course, Smith has not let any of it affect his game. He tied seventh at the 2026 PGA Championship, shooting a final-round 68 at Aronimink to finish four under, his best major result in nine starts. On LIV, he has recorded a tied 11th in South Africa and Virginia for Ripper GC.

Whether Smith’s cautious optimism survives LIV’s next round of cuts remains the central question. But now even Smith and some of LIV’s biggest names are hedging publicly on the league’s viability.

What Jack Nicklaus and Jon Rahm really think about LIV Golf’s crisis

Jack Nicklaus kept his distance when asked about LIV Golf at the 2026 Memorial Tournament. “I don’t have a comment really on the LIV thing because I don’t really know what’s happening; it’s none of my business,” he said.

Later, the golfer turned attention to the PGA Tour, adding he was proud of what the Tour had built since 1968. Jon Rahm, who pocketed around $18M in champion’s bonuses in both 2024 and 2025, is taking a different approach. He said he is open to player involvement in discussions about golf’s future, telling media at LIV Andalucia that having a player’s POV in those conversations can only help.

Rahm cited family obligations, lacking Bryson DeChambeau’s bandwidth for funding meetings. That is where LIV stands right now. Its best player is willing but unavailable, its founding faces are hedging, and the league itself is scrambling for a lifeline. Nobody has a clean answer, and that includes the people playing in it every week.