LIV Golf has announced several new board appointments and confirmed a renewed focus on securing long-term financial partnerships on Thursday. According to a Thursday press release, the league believes this shift will be crucial for its continued growth and stability.

The announcement follows recent speculation about the league's possible dissolution earlier this month and now news that Saudi Arabia’s Public Investment Fund (PIF), which has provided an estimated $1 billion annually to support LIV Golf since 2022, will end its financial backing at the close of this year. The anticipated withdrawal of PIF funding marks a significant turning point for the league, raising questions about its ability to sustain operations and attract new investors moving forward.

“LIV Golf has built something truly differentiated – a global league with passionate fans, world-class talent, and demonstrated commercial momentum,” said Gene Davis, Chairman of the Independent Directors Committee, in a press release. “The executive leadership team, along with Jon and I, see a clear opportunity to help the league formalize its structure, attract and secure long-term capital, and position the business for growth while continuing to promote the game across the world. We look forward to positioning LIV Golf for future success."

The uncertainty surrounding LIV Golf’s future, particularly after news of the impending end of PIF funding, has prompted some players to explore rejoining the PGA Tour.

More: LIV Golf to officially announce Saudi funding ends after 2026 season

This article originally appeared on USA TODAY: LIV Golf news after Saudi funding pulled: New board appointments