An X post by Ryan French sparked rumors that LIV Golf was shutting down because of financial strain. Although he denied it then, CEO Scott O’Neil later hinted in a now-deleted video that the PIF has cut LIV Golf’s funding after this season. Still, O’Neil is confident that things will work out because LIV Golf is in a good position right now, but hosts don’t agree. A state government in the U.S. has stepped in, pressing for clarity as questions mount over the league’s immediate future and the event they were to host.

“Needless to say, we are concerned about the reports this week,” said Louisiana Economic Development Secretary Susan Bourgeois. “They are in Mexico, but I have said, by Monday, we need to have a candid conversation about where this stands.”

Last year, Governor Jeff Landry announced that New Orleans’s Bayou Oaks Golf Course would host a LIV Golf event for the first time. The newly added event in the schedule is to take place from June 25 to June 28, but will it? That’s what the state government is deciding on.

Gov. Landry hosted the event under an incentive package worth $7.2 million to lure the league to hold it there. Of this, $5 million was to go to LIV Golf and the remaining $2.2 million to City Park for course upgrades. Until now, the breakaway league has already received $1 million, but that’s recoverable.

“But we have a claw back provision should they falter,” New Orleans Republican Cameron Henry said. “If they should close, we can ask for our money back.”

Gov. Landry faced criticism for the decision, but projected the tournament would generate about $60 million in economic impact. But with the strategic shift, the league’s future is in jeopardy, fueling speculation that has Louisiana officials on high alert.

“So far, we have not been notified of anything as far as LIV folding or pulling out,” Governor Landry said. While state officials have not officially heard from LIV Golf, Scott O’Neil’s actions suggest the event is likely to happen.

After this funding change, O’Neil shared a memo with the staff: “Exactly as planned, uninterrupted and at full throttle.”

But he admitted in a now-deleted video that the funds had stopped immediately. “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,” he said in an interview during the ongoing LIV Golf Mexico City.

O’Neil seems to be confident for at least the current season. However, only the LIV Golf executives would know the ground reality, which is why Louisiana officials are asking them.

All of this is happening because of the fund’s decision, reportedly because of the Middle East war.

PIF’s strategic shift raises deeper questions about LIV Golf’s future

The PIF’s changing strategy is at the center of the growing uncertainty. The fund has recently outlined a new five-year strategy, which focuses on domestic investment. Although war tensions are no longer escalating, the PIF is recalibrating its priorities. The primary focus will be on tourism and entertainment.

LIV Golf has been one of the PIF’s most expensive bets, reportedly incurring losses of $1.4 billion in 2025 alone and burning through nearly $5 billion in total assets—a figure expected to hit $6 billion by the end of 2026, making the fund’s potential withdrawal an existential threat.

Media rights deals and ticket sales have also not registered any significant numbers over the years. The Australia and South Africa event this year showed some promise, but that’s still not enough to offset the losses the league has accumulated.

This strategic shift isn’t limited to golf. In a move that signals a broader divestment strategy, the PIF recently sold a 70% stake in Al-Hilal FC for approximately $373 million—one of the very clubs it acquired in 2023 to attract stars like Ronaldo and Benzema.

Taken together, these financial realities and strategic adjustments explain the speculation around LIV Golf’s long-term stability. Even if the current season proceeds as planned, the bigger question now extends beyond a single event in Louisiana and into whether the league can sustain itself under a shifting investment philosophy.