Saudi Arabia to end LIV Golf funding, while league appoints new chairman
Summary
Saudi Arabia’s Public Investment Fund (PIF) will stop funding the LIV Golf league after the 2026 season. LIV Golf has announced new leaders and plans to find other investors to continue running the league without Saudi money.Key Facts
- Saudi Arabia’s sovereign wealth fund, PIF, will fund LIV Golf only until the end of the 2026 season.
- LIV Golf was initially launched with large Saudi investments that allowed for big player contracts and prize money.
- Yasir Al-Rumayyan, who helped start LIV Golf, is no longer the league’s chair.
- LIV Golf’s new board is led by Gene Davis and Jon Zinman, who aim to find long-term financial partners.
- The league plans to switch to having multiple investors and team franchises.
- LIV Golf expects most of its teams to be profitable in 2024.
- LIV Golf has spent around $5.3 billion since 2022 and $6 billion by the end of 2024.
- The league’s prize funds are currently about $30 million per tournament.
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