LIV Golf, the Saudi-backed challenger to the US PGA Tour, could file for bankruptcy within days, the Financial Times reported, as the kingdom shifts position on several high-profile projects.
The Saudi Public Investment Fund founded LIV in 2022, attracting several top players with high wages, but said this year it would stop funding.
PIF has also pulled back from esports, snooker, and tennis plans, while the flagship NEOM project, a huge desert city, was omitted from the kingdom’s 2026 budget.
Riyadh is cash-rich thanks to oil-price rises, but is apparently keen to reallocate to profitable, rather than attention-grabbing, ventures; it bought the gaming company Electronic Arts this month and has invested billions in data centers, mining, and religious tourism.