Saudis now want sports to make money, clouding LIV Golf’s future
This image was generated by AI and may not depict real events.
Saudi Arabia's Public Investment Fund (PIF) is reevaluating its costly golfing venture, LIV Golf, as part of a wider pullback on sports investing to prioritize returns. The PIF may cut funding to LIV Golf, which has struggled financially since its launch in 2022.
Saudi Arabia's Public Investment Fund (PIF) is reassessing its investment in LIV Golf, a golf league launched in 2022. The league has cost over $5 billion and struggled financially due to low attendance and poor TV viewership. The PIF has faced financial struggles and now prioritizes returns on its investments. As a result, it may cut funding to LIV Golf and is exploring new backers. The PIF's new strategy focuses on domestic sports investments, including the 2026 World Cup. It remains committed to certain investments, such as its stake in Newcastle United and potential deal with World Athletics.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.