Saudi-backed LIV Golf may seek bankruptcy as funding dries up
LIV Golf, the Saudi-funded rival to the PGA Tour, could file for bankruptcy within days after the Public Investment Fund announced it will cease financing the league.
The Saudi Public Investment Fund, which created LIV Golf in 2022, plans to stop its financial support this year. The withdrawal follows a broader pullback by the fund from high-profile ventures such as esports, snooker and tennis, and the omission of the NEOM desert-city project from the 2026 budget. Although Saudi Arabia remains cash-rich due to higher oil prices, the kingdom is redirecting capital toward more profitable sectors, recently acquiring Electronic Arts and investing heavily in data centers, mining and religious tourism.
Why it matters
The potential collapse of LIV Golf highlights a shift in Saudi Arabia’s investment strategy away from high-profile sports ventures toward more profitable sectors.
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