Saudi Arabia's Public Investment Fund (PIF) confirmed on Thursday that it will end funding for its breakaway LIV Golf tour at the close of the current season, citing a change in investment strategy and "current macro dynamics" amid the ongoing conflict in the Middle East.

Launched in 2022 as a rival to the US PGA Tour, LIV Golf has received over $5 billion in backing from PIF, luring top stars like Brooks Koepka, Phil Mickelson, and Dustin Johnson with multi-million-dollar contracts. The move was part of a broader Saudi sports investment push that also included a majority stake in Newcastle United and hosting rights for the 2034 FIFA World Cup.

However, PIF announced that as of September 2026, LIV Golf will need to find alternative funding. "PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season," the fund stated. "This decision has been made in light of PIF's investment priorities and current macro dynamics."

LIV Golf responded by saying it is transitioning to a "diversified, multi-partner investment model" and has begun a formal process to attract long-term financial partners. The announcement follows signs of strain, including the postponement of a LIV tournament in New Orleans and an email from LIV CEO Scott O'Neil that notably omitted any mention of the tour's future beyond 2026.

The funding cut is part of a broader pullback in Saudi international investments. Earlier this month, PIF governor Yasir Al-Rumayyan outlined a strategy to focus on domestic projects between 2026 and 2030, stating that the kingdom continuously reassesses its priorities "whether due to the war or reasons related to economic feasibility."

Other casualties include the cancellation of the Saudi Arabia Snooker Masters and a significant scaling back of the Neom megacity project. According to MSN, some LIV players have already reached out to the PGA Tour and DP World Tour about potential returns, though such requests may be complicated by an antitrust lawsuit involving LIV and PIF.

Source: www.dw.com