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Saudi Arabia Ends Funding for LIV Golf After Five Seasons and Over $5 Billion Invested
Saudi Arabia has ended its involvement with LIV Golf, the oil-funded tour that operated for five seasons. The exit, confirmed on Thursday, follows investments exceeding $5 billion and aims achieved in elevating the kingdom's global profile. Experts indicate this does not signal a broader retreat from sports investments despite regional conflicts.
Japan TimesAudio version
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Riyadh – Saudi Arabia confirmed its exit from LIV Golf on Thursday, concluding five seasons of operation for the tour funded by Saudi oil money, Japan Times reported. The kingdom invested more than $5 billion in LIV Golf, which poached top stars and disrupted golf's establishment, helping to push Saudi Arabia into the global view as one of its key aims, experts said.
Experts stated that the LIV Golf exit does not signal a flight of Saudi money from sports, even after a Middle East war that sparked Iranian attacks around the Gulf.
Jon Rahm won the LIV Golf United Kingdom event in Rocester, England, in July 2024, celebrating on the podium as the victor. Joaquin Niemann finished second in the LIV Golf United Kingdom event in July 2024, standing far left on the podium during the celebrations.
Cameron Smith finished third in the LIV Golf United Kingdom event in July 2024, positioned far right on the podium after the competition.
