Menu

Post image 1
Post image 2
1 / 2
0

Saudi Arabia’s PIF confirm decision to stop financing LIV Golf at end of 2026 season

The Independent·Michael Jones·about 1 month ago
#1nUOtXEt
#comments#golf#investment#fund#tour#current
Reading 0:00
15s threshold

The Public Investment Fund (PIF) have announced that they will only fund LIV Golf for the remainder of the 2026 season before removing their investment in the controversial golf tour. The PIF is Saudi Arabia ’s sovereign wealth fund and has financed LIV Golf since it’s creation four years ago but, on Thursday, it confirmed weeks of rumours that it would be withdrawing its funding of the tour at the end of the current season. LIV Golf earlier released a statement of their own confirming the appointment of an independent board led by investment bankers Gene Davis and Jon Zinman who will seek to find new investors for the future of the tour. PIF governor Yasir Al-Rumayyan has also stepped down as LIV Golf’s chairman. The PIF statement reads: "PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season. The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More