LIV Golf is scrambling amid Saudi funding questions. Will the kingdom’s stake in other sports last?
The New York Times • • sports
Key Points:
- Saudi Arabia’s Public Investment Fund (PIF) is reportedly preparing to withdraw funding from LIV Golf, raising concerns about the future of the rebel golf league and Saudi Arabia’s broader sports investments.
- Despite this, PIF remains heavily invested in soccer, with significant spending on the Saudi Pro League and ownership stakes in four clubs, and is committed to hosting the 2034 FIFA World Cup, signaling a shift toward domestic sports infrastructure.
- In tennis, Saudi Arabia has invested over $1 billion through hosting major tournaments and sponsorship deals, though some ambitions have scaled back, such as the downsizing of a planned ATP/WTA 1000 event.
- Boxing investments continue under the leadership of Turki Al-Sheikh, with major events and partnerships ongoing, while MMA has seen PIF-backed growth through the Professional Fighters League and UFC events in Saudi Arabia.
- Saudi Arabia’s involvement in other sports like motorsport, cycling, and multisport events remains active, with long-term projects such as the Qiddiya Speed Park and hosting the 2029 Asian Winter Games, though some plans have been delayed or canceled amid a broader strategic pivot.
