Southern Guards GC's Dean Burmester pictured during the LIV Golf South Africa tournament at The Club in Steyn City in April.
Image: AFP
The Minnister of Sports, Arts and Culture Gayton McKenzie is confident the 2027 LIV Golf event in South Africa will go ahead despite Saudi Arabia's sovereign wealth fund ending their financing of LIV at the end of the 2026 season.
LIV Golf, founded in 2022 as a main rival to the PGA Tour, plans to inform staff and players on Thursday that the Saudi Public Investment Fund will no longer bankroll the circuit beyond this summer, the Wall Street Journal said.
The league, which spent billions of Saudi dollars to lure many of the world's top players including Bryson DeChambeau and Phil Mickelson, will "evaluate strategic alternatives" to continue operating, CNBC reported.
Reports first emerged earlier this month that the breakaway tour was on the verge of collapse due to the possible withdrawal of Saudi financing. LIV's deep-pocketed backers in Riyadh were rumoured to have cooled on the extravagantly expensive project, which has reportedly cost them over $5 billion so far.
LIV Golf CEO Scott O'Neil refuted the reports, vowing to continue the season "full throttle", though he conceded the league would "probably" have to raise money going forward.
South Africa hosted a successful LIV Golf event at Steyn City in Johannesburg earlier this year, with a record 186,771 spectators attending the event.
McKenzie is excited about its future, suggesting that new sponsors will take the tournament forward.
"So let me say it clearly ... LIV Golf will go ahead as normal. The 2026 season is funded and running. And South Africa will host again next year," McKenzie said during a recent press briefing.
"Let me be direct about the PIF question. Seed funders put money into ventures to prove the model and to attract other funders. That is how investment works. The PIF is no different. The fact that other investors will now take LIV forward is a sign that the model is working, not that it is failing.
"When we first went out to get sponsors for LIV Golf in South Africa, it was not easy. It was a battle, but with those brave sponsors that did join us we delivered the biggest golf event in the history of this continent. Today, sponsors are falling over their feet to be part of LIV Golf in South Africa – because they have seen what it is and what it does.
"We do not yet know exactly how we will make LIV Golf in South Africa bigger next year than it was this year. But we are going to try."
A collapse of LIV Golf, however, could jeopardise the careers and earnings of its star players. The likes of DeChambeau defected from the PGA Tour in acrimonious circumstances and may face severe penalties if they try to return.
"There were rules, and they were broken," PGA Tour chief executive Brian Rolapp told the Journal this week. "With rules comes accountability."
LIV Golf this week postponed its planned June tournament in New Orleans on Tuesday, with officials saying they hope to reschedule an event for later this year.
LIV's next tournament is set for May 7-10 at Trump National in suburban Washington. Its final scheduled tournament this season is set to take place in Indianapolis from August 20-23.