00:00Saudi Arabia may be rethinking one of its boldest sports bets, Live Golf.
00:06The Saudi Public Investment Fund has spent more than $5 billion backing the rival golf league since 2022,
00:12but Live has struggled with low attendance, weak TV ratings, and heavy losses.
00:17Now Saudi officials are considering cutting funding according to people familiar with the matter.
00:21But Live Golf CEO Scott O'Neill pushed back on speculation in a memo to staff,
00:26saying this season, including this week's event in Mexico, will continue as planned, uninterrupted.
00:32The shift reflects a broader change inside the kingdom's $1 trillion wealth fund.
00:37For years, Saudi Arabia used sports to build global influence, buying stars, launching leagues, and securing the 2034 FIFA World
00:45Cup.
00:45Now the focus is turning towards financial returns.
00:48That means costly projects like Live Golf or paying premium prices for aging sports superstars are facing tougher scrutiny.
00:55Other deals are already changing course.
00:57The WTA finals will leave Riyadh after this year,
01:00and Saudi Arabia also exited an agreement to host the next-gen ATP finals early.
01:05The country still plans to invest selectively, including in Newcastle United and other strategic assets,
01:10but the era of blank-check sports spending may be ending.
01:13For Saudi Arabia, sports was once about prestige, but increasingly, it's about profit.
Comments