Saudi Arabia’s ambitious push into global sport has come under scrutiny after its sovereign wealth fund, Public Investment Fund, decided to stop funding LIV Golf from next season.
The move has cast uncertainty over the future of the breakaway golf series and sparked wider questions about the kingdom’s massive investments in sport.
Over the past decade, Saudi Arabia has spent billions hosting major events and attracting global stars like Cristiano Ronaldo, while also securing the hosting rights for the FIFA World Cup 2034.
Shift in priorities
The withdrawal from LIV Golf appears to reflect a broader change in strategy. Reports suggest the PIF is focusing more on sustainable investments that deliver long-term returns, especially after a significant budget deficit and falling oil revenues.
There have already been signs of this shift. Plans for events like the Asian Winter Games have been delayed, while some sporting deals—such as hosting rights in tennis and snooker—have been scaled back or cancelled.
Rising costs and global factors
Experts believe the financial demands of hosting the 2034 World Cup, along with geopolitical tensions and rising infrastructure costs, are forcing Saudi Arabia to reassess its spending.
LIV Golf, which has reportedly incurred heavy losses since its launch, may have become difficult to justify under the new approach.
Top players like Jon Rahm and Bryson DeChambeau could now face uncertainty about their future within the league.
Not all sports affected
Despite the shift, Saudi Arabia remains heavily invested in several major sporting ventures. The country continues to host Formula 1 races, boxing events, and esports competitions, while also expanding its football ambitions.
The PIF’s backing of Newcastle United is also expected to continue, providing reassurance to fans.
Warning sign for global sport
While Saudi Arabia insists sport remains a priority, the LIV Golf decision highlights a more cautious and calculated approach moving forward.
For organisations and athletes who have benefited from the kingdom’s spending surge, the message is clear—financial backing is no longer guaranteed.
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