Saudi Arabia's sovereign wealth fund has pulled the plug on LIV Golf, ending a four-year, multibillion-dollar attempt to reshape professional golf. The Public Investment Fund confirmed it will cease funding the rival tour at year's close, marking the most significant retreat yet from Crown Prince Mohammed bin Salman's ambitious sports investment program. The decision leaves LIV's future uncertain after the circuit lost almost $600 million in 2024 on revenues under $90 million.

When LIV launched in 2022, it upended the sport by luring top players with contracts exceeding $400 million, triggering bitter legal battles with established tours. PIF governor Yasir al-Rumayyan, who chaired LIV, will exit the board as the fund pivots toward domestic investment. The golf pullout reflects mounting financial pressures on the kingdom, including costs for hosting the 2030 World Expo and 2034 World Cup, plus lower oil revenue from Middle East instability affecting shipments through the Strait of Hormuz.

The end of free-spending sports diplomacy signals a recalibration of Saudi strategy. PIF will retain other sports assets like Newcastle United and DAZN, but the golf retreat demonstrates the limits of using petrodollars to buy global influence when energy revenues tighten.