Tranlate this title Saudi Arabia’s PIF cuts off funding for LIV Golf in spanish

The Saudi Arabian Public Investment Fund, which has spent more than $5 billion on LIV Golf since its launch in 2022, announced Thursday that investing in the league no longer aligns with its investment strategy. The decision to cut funding at the end of the 2026 season forces the independent tour to seek new sponsors and raises questions about the future of its star players with lucrative contracts.

Liv Golf, situation

LIV revolutionized the world of golf when, backed by billions from the PIF, it attracted some of the sport’s biggest names to leave the established PGA Tour. Winners of major tournaments such as Bryson DeChambeau, Jon Rahm, Phil Mickelson, Dustin Johnson, Brooks Koepka, and Patrick Reed were recruited to play team golf around the world and earn millions of dollars in prize money.

Sources at LIV told Reuters on Wednesday that the PIF will cut funding to the independent tour at the end of the league’s 2026 season. Saudi Arabia’s sovereign wealth fund, with assets of $925 billion, confirmed the decision in a statement. «The significant investment required by LIV Golf over the long term is no longer compatible with the current phase of the PIF’s investment strategy,» the PIF said in its statement on Thursday.

«This decision was made based on the PIF’s investment priorities and current macroeconomic dynamics. The LIV Board of Directors has created a committee of independent advisors to evaluate strategic alternatives for its future beyond the PIF’s funding horizon,» the statement continued.

PIF added that it remains committed to investing capital internationally, in line with its investment strategy, «including current and future investments in various sports as a priority sector.»

LIV, meanwhile, will have to find a new source of funding. In a separate statement, without mentioning PIF, LIV announced a «transition from an initial launch phase to a diversified investment model with multiple partners» and a new independent board of directors led by experienced business consultants Gene Davis and Jon Zinman. Its future is more uncertain than ever.