Saudi Arabia and sports: What it owns, how much it has invested, and what now?

The news that Saudi Arabia’s Public Investment Fund (PIF) is preparing to withdraw funding from LIV Golf, according to golf industry sources, sent shockwaves through the sport.The rebel league was launched to huge fanfare in 2022 with the aim of disrupting the established PGA and DP World Tours. But despite billions of dollars of investment, the project has been a huge loss leader, with The Athletic reporting Wednesday that people inside the sport are scrambling to figure out their futures amid the uncertainty.Advertisement