Saudi Arabia To Withdraw LIV Golf Funding
Reports from the Wall Street Journal suggest the LIV Golf tour will address its staff and players within the next 24 hours. The Saudi public investment fund plans to stop bankrolling the Livgolf breakaway tour after this summer. Founded in 2022, the league spent billions of dollars to attract top global players. Livgolf plans to inform staff and players today regarding the decision. The league is currently evaluating strategic alternatives to maintain operations, according to reports from CNBC and US media. LIV Golf has announced the formation of a new independent board following news that Saudi backing for the league will end. The announcement of the independent board followed the confirmation regarding the cessation of Saudi support. The organization is transitioning towards a long-term structure.
Topics
Developing
- 862d Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore.
- 862d Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
- 862d Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est.
- 862d Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium.
Sources · 7 independent
“the rumors are true that live golf is done. hasn't been confirmed the report in the wall street journal says the tour will speak to its staff and players within the next 24 hours”
“its recent report saying what it's planning to do in the future. Golf wasn't even mentioned. So that led people to say, well, hang on a minute.”
“that's fuelling the whole golf tour. That's paying the enormous salaries of... golfers like Australia's Cameron Smith, Mark Leishman's been on the tour, Elvis Smiley has recently joined it.”
“The Wall Street Journal is reporting that the LIV Live Golf Tour, which has been funded by the Saudi Public Investment Fund, the tune of US$6 billion since 2021, is set to close the end of 2026”
“the Wall Street Journal is reporting that the LIV live golf tour which has been funded by the Saudi Public Investment Fund to the tune of six billion US dollars since 2021 well it is set to close the end of 2026.”
“US$6 billion since 2021, is set to close the end of 2026”
“Saudi Arabia's sovereign wealth fund will stop financing live golf at the end of the 2026 season, throwing the future of the breakaway tour into serious doubt.”
“Livgov plans to inform staff and players as soon as today that the Saudi public investment fund will no longer bankroll the circuit beyond this summer.”
“Saudi Arabia set to withdraw LIV Golf funding after 2026 season, per reports”
“The Wall Street Journal reporting that live golf plans to tell its players and staff imminently that Saudi Arabia's public investment fund will stop funding the Rebel Tour after this season.”
“As soon as that news was confirmed the league then announced that a new independent board and that it had set up an independent board and the search for new long-term financial partners.”
“LiveGolf is preparing for a new era announcing plans for an independent board and fresh investment partners with the Saudi Arabia's public investment fund set to end its backing After 2026”
“The future of the tournament is in doubt after Saudi Arabia confirmed overnight it will withdraw funding. Premier Peter Malinowska says he's recently been in contact with Liv Golff's chief executive Scott O'Neill.”
Unlock the full story
Get a Pro subscription or above to see the live story progression and the full list of independent sources confirming each event as they happen.
Log in to upgrade