LIV Golf: Is Saudi Arabia’s sports revolution unravelling?

Seen in this context, it is hardly surprising that LIV, which has suffered billions of pounds in losses since its launch in 2022, is no longer compatible with PIF’s new investment strategy, especially given the huge sums that will have to be spent to prepare for the World Cup in just eight years.

“Saudi Arabia faces enormous infrastructure and delivery costs as the 2034 World Cup approaches,” says Dr John Rewilak, a sports management expert at Loughborough University.

“It seems reasonable for the government to reallocate capital and re-evaluate its wider sports portfolio. Geopolitical tensions and rising construction costs may also be accelerating these decisions, shifting spending priorities towards security and basic infrastructure rather than prestigious sports assets.”

Some sports appear to be doing better than others, especially those with mass appeal among Saudi Arabia’s young population.

In July, Riyadh will host both the Esports World Cup and Anthony Joshua’s heavyweight fight against Kristian Prenga.

Next year Saudi Arabia will host the AFC Asian Cup for the first time, while on the cricket front, it will host the Women’s World T20 Challenge this year and is reportedly exploring plans for a global T20 cricket competition.

A new, state-of-the-art Formula 1 track is being built near Riyadh.

The BBC was also told that PIF’s long-term commitment to Newcastle United remains unchanged and a major capital investment will be confirmed in the coming days.

This will no doubt come as a relief to many fans who are now increasingly worried about future support from their owners.

But LIV Golf’s fate also serves as a warning to everyone in the sports world who has become addicted to Saudi Arabia’s sports spending spree.

They all know now that nothing is guaranteed.