Saudi PIF decides to pull out of three more sports after leaving LIV Golf
Saudi Arabia’s Public Investment Fund (PIF) recently shared how three other sports might be affected after confirming that funding for LIV Golf will end after next season. LIV Golf has been searching for new investors since PIF has backed them from the start in 2022.
Besides LIV Golf, PIF also supports Premier League team Newcastle United and Saudi football clubs like Al Hilal, Al Ittihad, Al Nassr, and Al Ahli. However, earlier this year, PIF sold most of its share in Al Hilal to Kingdom Holding Company (KHC). The Saudi Arabian Snooker Masters was also canceled after just two years, even though there was a 10-year deal, which has raised some worries about PIF’s future funding for other sports.
Saudi Arabia also invests in several sports like Formula 1, tennis, boxing, and football, and is set to host the 2034 FIFA World Cup. Even though LIV Golf funding is ending, TKO COO Mark Shapiro said WWE, UFC, and boxing (under Zuffa Boxing) should be fine because Saudi Arabia has promised to keep supporting those sports.
Shapiro told the media: “We’re committed to continuing our events in the Middle East and nearby regions. This important double-header shows our dedication to bringing great events to fans, even when things get tough. Although PIF is stopping funding for LIV Golf, our Saudi partners have confirmed they will keep supporting TKO events now and in the future. After UFC Baku and WWE Night of Champions, we expect six more events in the Middle East in 2026 to happen as planned. The demand is strong, our partners are committed, and we’re all in.”
TKO Group Holdings also owns On Location, a hospitality brand, and PBR, the top bull riding organization. They also have IMG, a sports marketing agency, as part of their group.