LIV Golf pulls the plug on $40 million team championship amid financial woes

LIV Golf confirmed that the $40 million Team Championship, scheduled for the last weekend of August at The Cardinal at Saint John’s in Michigan, has been cancelled. The announcement, expected on Wednesday via the @flushingitgolf X account, marks the second event the league has scrapped this year after a June tournament in New Orleans. Cleeks Golf Club captain Martin Kaymer had warned that the likelihood of the Michigan showdown was about five percent, noting that contractors were already left with unpaid travel and lodging costs.

The cancellation comes as the league grapples with the Public Investment Fund’s decision to end its financial support at season’s end, prompting CEO Scott O’Neil to chase a $350 million lifeline. Prize money for the team event has already been reduced from $50 million last year to $40 million, with the winners’ share falling to $11.2 million. With only the Aug. 6-9 tournament at Trump National Golf Club Bedminster in New York remaining, the future of LIV Golf’s 2026 season looks uncertain.