Saudi’s Sovereign Wealth Fund Calls It Quits on Golf … And Maybe More

Saudi’s Sovereign Wealth Fund Calls It Quits on Golf … And Maybe More

LIV Golf is facing a liquidity event of the worst kind: a withdrawal by its only benefactor. As the league’s planned merger with the PGA Tour remains in limbo, and amid sinking TV ratings and attention, LIV Golf CEO Scott O’Neil confirmed reports on Friday that Saudi Arabia’s Public Investment Fund (PIF) is preparing to cut its financial support for the tour altogether. LIV is the first victim of the PIF’s new approach to big spending and soft p…