"PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season. LIV Golf is transitioning from a foundational launch phase to a diversified, multi-partner investment model, with a formal process underway to attract long-term financial partners."
"LIV Golf, backed by PIF to the tune of over $5 billion, managed to lure several top stars away from the PGA Tour with multi-million-dollar contracts, leading to an acrimonious split in the sport."
The Public Investment Fund of Saudi Arabia will cease funding for LIV Golf at the end of the 2026 season, citing a change in investment strategy and current macro dynamics. Launched in 2022, LIV Golf aimed to rival the PGA Tour and attracted top players with lucrative contracts. The PIF's decision reflects a transition for LIV Golf towards a diversified investment model, seeking long-term financial partners. This shift comes amid broader efforts by Saudi Arabia to diversify its economy and manage its international image amid ongoing conflicts.
Read at www.dw.com
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