The Wall Street Journal was the first to report that long-term funding for LIV Golf, the upstart golf entity funded by the Saudis, is coming to an end. With the news, could boxing-funded events be on the outs as well?
The Saudi Public Investment Fund (PIF), which has invested millions into the tour since 2022 will end funding at the end of this season and it does not look like another investor is coming to the rescue. LIV was an upstart league which plucked away several top PGA Tour professionals in seeking to compete. A lawsuit between the PGA and LIV Golf occurred in 2022 and was subsequently settled to allow a framework for the two sides to work together.
In the end, LIV Golf provided golf fans with an underwhelming product that paled in comparison to the PGA. While LIV Golf had spent millions on starting up the league, it did not accomplish in setting out what it wanted, which was to cut into market share while aiding the public image of the Saudi government.
Similarly, the PIF has invested in boxing. Notably, Turki Al-Sheikh has ascended to one of the top power brokers in the sport. Many of top fights of the past several years have occurred in Saudi Arabia. Zuffa Boxing was predicated on a working agreement with Turki Al-Sheikh to front the money while Dana White, et. al do all the work. With the closure of LIV Golf, it does not mean that boxing and/or Zuffa Boxing are next, but don’t be surprised if it is.
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