LIV Golf’s scheduled tournament in New Orleans in late June will be postponed, sources told ESPN on Monday, as the breakaway golf league scrambles to secure alternative funding following a significant pullback by its primary backer, Saudi Arabia’s Public Investment Fund.

The tournament had been set for June 25–28 at Bayou Oaks at City Park in Louisiana. A formal statement is expected to be released Tuesday, according to sources familiar with the matter. The postponement comes after Louisiana Economic Development Secretary Susan Bourgeois spent the past couple of weeks pressing LIV Golf officials for a definitive decision.

Sources with knowledge of the league’s operations confirmed that LIV Golf has been working alongside Louisiana Governor Jeff Landry’s office and the Louisiana Economic Development agency to explore potential alternative dates in the fall.

The league cited several reasons for the delay, including a desire to avoid the peak summer heat, ensure the course is in championship-caliber condition, and sidestep attendance and television viewership conflicts with the FIFA World Cup.

The financial stakes for Louisiana are considerable. The state had already spent $2 million on course improvements in preparation for the event and was poised to commit an additional $5 million. LIV Golf has agreed to return $1.2 million it had already received, WDSU reported.

The broader question hanging over the league, however, is whether it has a future at all. The PIF, which has poured more than $5 billion into LIV Golf since its launch in 2022 reportedly at a rate of $100 million per month over the past three-plus years is said to have pulled its financial commitment beyond the current season.

Much of that investment went toward player contracts and tournament purses, which climbed from $25 million to $30 million this season, with an additional $5 million allocated to team purses. Earlier this month, Saudi Crown Prince and PIF Chairman Mohammed bin Salman signed off on a new five-year strategic plan for the sovereign wealth fund, one focused squarely on domestic initiatives.

LIV Golf received no mention. Despite the turbulence, LIV Golf CEO Scott O’Neil struck a defiant tone in an April 15 email to staff, insisting the 2026 season “continues exactly as planned, uninterrupted and at full throttle.”

O’Neil elaborated during last week’s broadcast from the league’s tournament in Mexico City. “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,” he said. “But that’s not different from any other private equity-funded business in the history of man.”

LIV Golf has seven tournaments remaining this season, including four on American soil. The next event is scheduled for May 7–10 at Trump National Golf Club in Sterling, Virginia a course owned by U.S. President Donald Trump.