Al-Rumayyan, Newcastle's chairman, was key to LIV's launch Chris Brunskill/Fantasista/Getty Images On Wednesday, The Athletic reported that Saudi Arabia’s Public Investment Fund (PIF) is preparing to pull its multi-billion-dollar funding of LIV, the rebel golf league, according to golf industry sources. Four years of events and billions in losses later, LIV has struggled to attract viewers and interest or come anywhere close to repaying the huge investment. PIF also announced its strategy for the next five years on Wednesday and appeared to signal a change in priorities. Mohammed bin Salman, the crown prince of Saudi Arabia and chairman of the PIF, approved a plan that will “focus on delivering competitive domestic ecosystems to connect sectors, unlock the full potential of strategic assets, maximise long-term returns, and continue to drive the economic transformation of Saudi Arabia and further enhance the quality of life of its citizens”.
Published: April 16, 2026 5:44 pm
Source: The New York Times — Read original