LIV Golf: From Disruptor to Distressed Asset

The era of the sovereign blank check is over. When LIV Golf launched in 2022, it was defined not by its roster, but by the bottomless liquidity of Saudi Arabia’s Public Investment Fund (PIF). That capital was a weapon used to force a hostile market disruption, but when the sovereign mandate shifted, the fuel for that engine evaporated. LiV has gone from a well-funded disruptor to a distressed asset facing an existential liquidity crisis. The signs of distress have become impossible to ignore: r