Why Saudi Arabia Is Retreating from Its Global Spending Push

The decision marks the end of an era of unchecked Saudi spending that had flooded the global sports industry with unprecedented sums of money. Saudi investments have paid for enormous player salaries, hosting fees, and sponsorship deals across golf, soccer, boxing, tennis, snooker, and other sports. Without Saudi funding, the future of LIV Golf is uncertain. The tour has reportedly lost hundreds of millions of dollars annually. In 2024, it recorded nearly $600 million in losses on revenue of less than $90 million. LIV recently announced efforts to find new long-term investors, but it remains unclear whether it can survive in its current form.