"LIV Golf has been under pressure for some time owing to its inability to agree a merger with the PGA Tour three years after signing a so-called framework agreement."
"PIF has spent over $5bn on LIV since its 2021 launch, but prize money and bonus payments have been reduced significantly this year."
"A source who has worked with the Saudi Ministry of Sports on several projects told the Guardian that PIF is focusing its sports budget on football and esports, with golf no longer a priority."
"In another indication of its direction of travel, PIF is ending its relationship with the Women's Tennis Association, and its three-year deal to host the WTA finals."
LIV Golf executives are meeting in New York due to speculation about the future of the Saudi-funded tour. Despite rumors of a potential shutdown, the next event in Mexico City will proceed as scheduled. LIV has struggled to merge with the PGA Tour and is under pressure from the Saudi Public Investment Fund, which is shifting focus towards sustainable investments and domestic projects. Prize money has been reduced, and golf is no longer a priority for PIF, which is redirecting funds to football and esports.
Read at www.theguardian.com
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