Saudi Fund to Back Away From LIV Golf Under Mounting Financial Pressures
The New York Times • • sports
Key Points:
- Saudi Arabia’s sovereign wealth fund is poised to withdraw financial support from LIV Golf, the golf league it launched four years ago to rival the PGA Tour.
- LIV Golf attracted top players by offering contracts significantly higher than those on established tours like the PGA.
- The decision aligns with the fund’s new five-year strategy aimed at increasing investment efficiency and slowing down major projects.
- The $1 trillion sovereign wealth fund’s governor emphasized a shift in focus toward more efficient investment management.
