"The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy. This decision has been made in light of PIF's investment priorities and current macro dynamics."
"LIV Golf has substantially grown the game globally through its transformational and positive impact. It has forever changed the game of golf for the better."
"The league has said it expects 10 of its 13 teams to be profitable this year, indicating a strong financial outlook despite the upcoming funding changes."
LIV Golf is transitioning to a new investment model involving multiple partners as Saudi Arabia's Public Investment Fund will cease funding after the 2026 season. The league has appointed a new board led by Gene Davis and Jon Zinman, focusing on securing long-term financial partners. The decision to cut funding aligns with PIF's investment strategy and macro dynamics. LIV Golf aims to maintain its growth and profitability, expecting 10 of its 13 teams to be profitable this year despite the funding changes.
Read at www.aljazeera.com
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