LIV Golf Doubles Down After Koepka, Reed Departures to PGA Tour

Those forecasting the demise of LIV Golf after the high-profile departures of Brooks Koepka and Patrick Reed might want to think again. Rather than retreat, the Saudi-backed league is pressing forward — expanding its schedule, increasing prize money, restructuring competition, courting new investors and doubling down on its global ambitions.At a moment when two of its biggest stars are returning to the PGA Tour, LIV Golf is signaling that it intends not merely to survive, but to evolve.Nowhere is that commitment more evident than in team golf, LIV’s signature innovation. According to a release by LIV Golf, weekly team prize money will double from $5 million to $10 million in 2026. In addition, all 13 teams will now earn prize money each week based on finishing position, rather than only the top three.A new $2.3 million per-event bonus pool will reward individual performance within podium-finishing teams. Over 14 events, total individual and team purses for 2026 will reach approximately $470 million. It is a staggering investment — and a clear indication that the league’s backers remain committed despite heavy operating losses in previous seasons.The timing of the announcement this week was notable. Mr. Koepka, one of LIV’s original defectors and perhaps its most recognizable American star, made his return to the PGA Tour official this weekend playing in the Farmer Insurance Open at Torrey, Pines in La Jolla, Calif. The 5-time major champion cited family reasons for leaving LIV Golf.Mr. Reed, the 2018 Master Champion and another cornerstone signing in 2022, has also announced plans to leave LIV and pursue reinstatement with the PGA Tour while competing on the DP World Tour in the interim. Their exits have fueled speculation that LIV Golf is losing momentum, but the company has responded by unveiling several sweeping changes.In addition to the doubling of team prize money, beginning this season, LIV events will move from 54 holes to a traditional 72-hole format — a shift made to align more closely with established professional tours and strengthen LIV’s ongoing pursuit of Official World Golf Ranking accreditation.Fields will expand from 54 to 57 players, with five new wild-card entries awarded through performance pathways on the International Series and LIV Golf Promotions. And while Messrs. Kopeka and Reed have departed, LIV Golf signed rising talents in 21-year-old NCAA Champion Michael La Sasso and the last two BMW Australian PGA Championship winners Elvis Smylie, age 23, and David Puig, 24.“Our continued mission is to build a league that grows the game of golf competitively, commercially and culturally,” LIV Golf CEO Scott O’Neil said in the release. “The changes we’re introducing for 2026 are about rewarding consistency, strengthening team golf, and creating clearer pathways for players to earn their place and progress within the league.”LIV’s fourth season begins February 4 in Riyadh before future stops in Australia, Hong Kong, Singapore, South Africa, Mexico City, Spain, the United Kingdom, and multiple U.S. events, including a return to Trump National Golf Club in Bedminster, New Jersey, in August.The Bedminster event at the course owned by President Trump will once again combine elite competition with live music, hospitality experiences and festival-style fan engagement — part of the league’s effort to redefine golf as both sport and entertainment property.Behind the scenes, LIV is also preparing for a new business phase. The league has hired Citigroup to oversee the sale of minority stakes in two teams — the first time outside investment will be permitted since LIV’s inception. Valuations of roughly $300 million per team are being targeted, with league executives publicly stating long-term ambitions to bring all 13 franchises to billion-dollar valuations.Currently, LIV’s teams are primarily owned by the Saudi Public Investment Fund, with team captains holding 25 percent stakes. Bringing in outside investors is seen as both a credibility play and a step toward long-term sustainability. “We’re focused on driving sponsorship revenue and building new business under the teams,” said LIV executive Katie O’Reilly. “That’s the business model.”Sponsorships are beginning to follow. Crushers GC, captained by Bryson DeChambeau, has attracted partnerships with Reebok, NetJets and Qualcomm, driving rising internal valuations. Mr. DeChambeau has openly welcomed the prospect of selling minority stakes.“That’s the ultimate goal,” he told Front Office Sports. “It’s taken a few years, but we’re getting to a place where we’ve generated a lot of revenue, and there’s keen interest.”Not everyone believes LIV’s financial trajectory is secure. Public reports indicate LIV Golf’s expenses in 2024 were $526.7 million, but generated a revenue of only $64.9 million. Skeptics argue the defections of Messrs. Koepka and Reed could weaken future valuation. LIV insiders counter that long-term global media reach — currently approaching 900 million households — will eventually close that gap.Even inside LIV’s player ranks, opinions differ on the league’s evolution. Bubba Watson, captain of RangeGoats GC, has questioned the move to 72 holes, arguing that LIV’s original three-day format was a core part of its identity.“When you go four days, you get more spread-out leaderboards,” Mr. Watson said. “As a sprint, everybody stays together. That makes it better for fans when there’s chaos.”Yet, Mr. Watson, a two-time Masters Champion, remains bullish on the league’s direction. “The league’s in a great spot. One person is not going to dictate what the league’s doing,” he said, referring to Mr. Koepka’s departure. “LIV has always been about pathways to play other tours. So it’s great.”Meanwhile, Mr. Koepka’s PGA Tour return has been met with widespread goodwill. He described receiving supportive messages from players and caddies across both tours.“It was a lot of ‘good to see you, glad you’re back,’” Mr. Koepka said. “I was kind of overwhelmed at the text messages I received from guys on both sides. It meant a lot.”Mr. Reed’s exit has followed a more formal process. A nine-time PGA Tour winner has notified the Tour of his intent to return under its Returning Member Program. He will be eligible for PGA Tour events as a non-member beginning later this year and expects full reinstatement for the 2027 season.“I’m a traditionalist at heart,” Mr. Reed said in a social media statement. “I was born to play on the PGA Tour.”

LIV Golf Doubles Down After Koepka, Reed Departures to PGA Tour

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