LIV Golf CEO Scott O'Neil says competition is "funded through the season" amid reports breakaway league could fold

LIV Golf CEO Scott O'Neil said the series is "funded through the season" and would "work like crazy" to keep it going amid speculation its Saudi backers could withdraw their financial support.

The breakaway golf league, which is funded by Saudi Arabia's Public Investment Fund (PIF), sent shockwaves through the golfing world following its inception in 2021, where it was positioned as a rival to the PGA Tour and DP World Tour.

Speculation has mounted this week that the PIF is set to end its backing of the competition, which is reported to be approaching $5bn (£3.7bn) since the series was launched.

On Friday, LIV chief executive O'Neil was asked by TNT Sports about comments from Sergio Garcia - a LIV team captain - alluding to funding being in place through to 2030.

• LIV Golf season to continue 'full throttle' amid shutdown reports
• Sergio Garcia responds to LIV shutdown rumours
• When are the majors? Key dates in 2026
• Get Sky Sports or stream golf with no contract

Please use Chrome browser for a more accessible video player

"As you know, there are always a lot of rumours," Garcia said, speaking on the swirling speculation around the league.

"I can't tell you anything more than we already know."

O'Neil played down fears, saying: "It's just not the way the world works. We have commitments to have this being a going concern.

"The reality is, 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.

"But that's not different from any other private equity-funded business in the history of mankind."

Earlier in the week, O'Neil wrote to LIV staff that the season "continues exactly as planned, uninterrupted and at full throttle", making no reference to anything beyond this season.

The PIF has not commented on the matter.

Please use Chrome browser for a more accessible video player

O'Neil's comments came after reports from The Daily Telegraph claimed LIV Golf executives had been summoned to an "emergency meeting" in New York. The Financial Times also reported the PIF was on the cusp of ending funding to the league. No official decision has been made.

The reports emerged after the PIF had announced its four-year strategy, with governor Yasir Al Rumayyan telling Al Arabiya some deals and investments were being "reviewed, whether due to war (in the Middle East) or for reasons related to economic feasibility".

He added that the Middle East conflict, sparked by American and Israeli air strikes on Iran, "places greater pressure on the need to reposition certain priorities".

Sky Sports understands some LIV Golf players were confused by the reports and were keen to gain reassurances from LIV chiefs. Team captains were not informed of any imminent announcement.

"Not too worried": Rahm breaks his silence on the speculation

Please use Chrome browser for a more accessible video player

Ryder Cup star Jon Rahm said he was "not too worried" about LIV's future.

Spaniard Rahm, who is reported to have earned £64m since joining the series in 2023, was interviewed after the first round of the ongoing LIV event in Mexico City.

"Until the people in charge told me if the rumours were valid or not, it didn't make sense for me to think about it or to waste time thinking about it," he said.

"We were here; we knew we were going to play, so the idea was to prepare for a tournament. And that's it.

"Since everything happened so suddenly and so quickly, I wasn't very worried about it because normally, before the rumours start, we already know something.

"There's always someone within the league who knows something; it happened so fast that I really didn't worry about it."

While a broadcasting hiccup delayed television streams on Thursday, it has been business as usual for LIV Golf during this week's event at the Club de Golf Chapultepec.

Can Rory McIlroy enjoy more major success in 2026? Watch the PGA Championship (May 14-17), US Open (June 18-21) and The Open (July 16-19) all exclusively live on Sky Sports. Get Sky Sports or stream with no contract.