Saudi PIF make decision on pulling out of three other sports after LIV Golf withdrawal

Saudi Arabia’s Public Investment Fund (PIF) has reportedly revealed how three other sports will be affected after it was confirmed that funding for LIV Golf will stop at the end of next season.

LIV are currently looking for new investors, having previously been funded by PIF since its launch in 2022.

The fund also bankrolls Premier League side Newcastle United, as well as Saudi clubs Al Hilal, Al Ittihad, Al Nassr and Al Ahli – although PIF sold 70 per cent of its stake in Al Hilal to Kingdom Holding Company (KHC) earlier this year.

The Saudi Arabian Snooker Masters was also cancelled just two years into a decade-long deal, raising concerns about the future of its commitment to funding several other sports.

Saudi Arabia also holds an interest in many sports, including Formula 1, tennis, boxing and football, with the nation set to host the 2034 FIFA World Cup.

TKO COO issues PIF funding update

Despite the sudden halt in funding for LIV, TKO COO Mark Shapiro has suggested that WWE, UFC and boxing – under the Zuffa Boxing banner – will not suffer a similar fate, with Saudi Arabia already pledging continued funding for those sports.

Speaking to the media, Shapiro said: “I want to address activity in the Middle East and neighbouring markets. First and foremost, we are firmly moving ahead with our scheduled events. This historic double-header reflects a commitment from both our partners and us to bring world-class events to fans across the region, despite a challenging environment.

“I would add that, despite PIF withdrawing its funding of LIV Golf, our partners in Saudi Arabia have confirmed that this will not be the case with TKO. Their commitment to our properties in 2026 and beyond is unwavering.

“After these two events [UFC Baku and WWE Night of Champions], we expect the remainder of our 2026 events in the Middle East, comprising six events, to take place as planned. The demand is real, our partners are committed, and we are leaning in.”

TKO Group Holdings also own On Location – an experiential hospitality brand – as well as PBR, the world’s premier bull riding organisation. IMG, a sports marketing agency, is also part of their portfolio.