Tag

Pif

All articles tagged with #pif

business5 days ago•2 min saved

Saudi govt freezes consultancy payments amid spending review

Saudi Arabia ordered a temporary freeze on payments to strategy advisers, management consultants, and law firms across ministries and the Public Investment Fund as it weighs the economic impact of the Iran war; the order covers existing contracts and halts new consulting work until the end of June, with possible exemptions and some firms continuing short-term assignments, while the finance ministry says most invoices are paid within contractual terms.

via Semafor|

#business #consultancy-payments #government-spending

business6 days ago•4 min saved

LIV Golf Seeks Fresh Capital as PIF Wind-Down Looms

LIV Golf is launching a roadshow to raise $250–$350 million from investors to recapitalize and pursue profitability after the PIF ends funding after 2026, with Ducera Partners guiding the effort and a new independent board in place; plans include expanded team-based events and potential bankruptcy steps as part of the restructuring.

via CNBC|

#bankruptcy #business #financing

business7 days ago•17 min saved

LIV Golf eyes bankruptcy plan as Saudi funding ends, Bloomberg reports

LIV Golf is reportedly laying groundwork for a potential U.S. bankruptcy filing as a last resort if it cannot raise new funds after Saudi Arabia's Public Investment Fund ends funding at the close of the 2026 season; the league is seeking options, including new investors, while the fate of its star players and the league’s future remains uncertain as the season concludes in August.

via Devdiscourse|

#bankruptcy #business #funding

business7 days ago•3 min saved

LIV Golf weighs Chapter 11 as funding drought sparks US relocation talk

LIV Golf is reportedly preparing to file for Chapter 11 bankruptcy in the United States if it cannot secure new funding after Saudi Arabia’s Public Investment Fund ends its support post-2026; the tour is weighing a relocation of its headquarters to the U.S. to exploit more favorable bankruptcy laws while it seeks alternative investors, following billions invested by the PIF to lure top players.

via New York Post|

#bankruptcy #business #chapter-11

sports14 days ago•3 min saved

McIlroy: LIV’s survival hinges on funding as PIF steps back

Rory McIlroy says LIV Golf’s future is uncertain as the Saudi backer PIF withdraws support, admitting he was wrong about a quick resolution; he notes funding tied to geopolitics has left LIV precarious and expects next year’s schedule to look very different, with players possibly leaving or returning to their former tours, while declining to know LIV’s deals. The move underscores that the PGA Tour and DP World Tour’s stance appears vindicated for standing their ground.

via hitc.com|

#dp-world-tour #liv-golf #pga-tour

sports15 days ago•4 min saved

McIlroy Admits Wrong About PIF-LIV Path, Sees Golf Unification as Key

Rory McIlroy says he was wrong to oppose a PIF-backed LIV Golf path to unite the sport, as the PIF will stop funding LIV after this year and LIV leadership changes add uncertainty, though he still views reunification as the best outcome for golf.

via Sports Illustrated|

#golf-unification #liv-golf #pga-tour

sports20 days ago•3 min saved

LIV Golf Drifts Into Uncertain Waters After Funding Shakeup

LIV Golf proceeds with this weekend’s event at Trump National DC as it tries to disentangle from Saudi Arabia’s Public Investment Fund, leaving investors wary while marquee players like Jon Rahm complain about long contracts and Bryson DeChambeau pivots to a YouTube-forward future; the piece notes a fragile funding situation and hints at a possible reconciliation with the PGA as the league battles to stay afloat.

via Defector|

#bryson-dechambeau #jon-rahm #liv-golf

business21 days ago•6 min saved

LIV Golf CEO Signals Confidence as PIF Backing Winds Down

LIV Golf's new CEO Scott O’Neil voiced confidence he can steer the league through looming financial headwinds after the Saudi Public Investment Fund said it would end backing after 2026, but offered few specifics beyond preserving the 13-team format and pursuing external investment; the league has restructured its board, hired Ducera Partners to help secure long-term investors, and plans to raise money in a staged approach before attracting team investors, while players weigh their contracts and futures.

via Sports Illustrated|

#business #franchises #investment

sports24 days ago•4 min saved

Feherty blindsided as PIF pulls funding from LIV Golf

Broadcaster David Feherty revealed he was unaware of the Saudi PIF’s decision to withdraw funding from LIV Golf beyond this season, confirming the league’s financial crisis and casting doubt on its future as a Louisiana event was postponed and talks of new investment and leadership changes intensify.

via Golfmagic|

#arlo-white #feherty #funding-withdrawal

business26 days ago•3 min saved

Saudi-Backed LIV Golf’s $6 Billion Gamble Falls Short

LIV Golf, funded by Saudi Arabia’s Public Investment Fund, plowed about $6 billion into a star-focused, 54-hole format with record prize money, but has racked up roughly $1.1 billion in losses from 2022–2024 and is reportedly pulling the plug this week, despite a 2026 prize pool of $1.59 billion and top players earning tens of millions.

via New York Post|

#business #golf #investment

sports26 days ago•3 min saved

Rahm Eyes PGA Tour Return as LIV Funding Faces End, Says Rapaport

Dan Rapaport predicts Jon Rahm will return to the PGA Tour by 2027 or 2028 if LIV Golf folds after the Saudi PIF ends funding in 2026. He argues LIV’s model isn’t self-sustaining and new investors are unlikely, even as Rahm sits atop LIV’s standings with six events left in 2026 and having earned roughly $90 million in LIV money.

via hitc.com|

#dan-rapaport #jon-rahm #liv-golf

sports27 days ago•7 min saved

Saudi-backed LIV Golf to halt funding after 2026 season

Saudi Arabia's Public Investment Fund plans to withdraw LIV Golf funding after the 2026 season, ending a multi‑billion-dollar investment and forcing LIV to seek new financiers as it grapples with fan interest, media rights, and world ranking points; the move could complicate LIV’s best players’ futures and pushes the league to pursue strategic options to stay alive, while the PGA Tour contemplates paths back for defectors.

via CBS Sports|

#golf #liv-golf #pga-tour

business27 days ago•2 min saved

LIV Golf Faces Funding Gap as Saudi PIF Plans Post-2026 Exit

Saudi Arabia's Public Investment Fund will stop funding LIV Golf after the 2026 season, with an independent directors committee set to evaluate strategic options and pursue new long-term investors as the league searches for a path forward following a stalled PGA Tour merger. LIV has postponed a New Orleans event amid fundraising efforts, posts losses in non-U.S. operations, and continues to seek partnerships and leadership changes while stars’ contracts (e.g., DeChambeau through 2026, Rahm through 2027) loom over its future.

via CNBC|

#2026-season #business #funding

business1 month ago•2 min saved

DeChambeau’s Fallout Threatens LIV Golf as 2026 Funding Hopes Dwindle

LIV Golf could face a funding crisis if the Saudi PIF exits after 2026, while Bryson DeChambeau’s public criticisms, a rumored $500 million renegotiation, and a poor Masters showing—followed by a controversial Mexico City incident—are undermining the league’s image and its ability to attract new investors.

via HITC Sport|

#bryson-dechambeau #business #contract-negotiations

business1 month ago•1 min saved

Saudi fund's LIV Golf doubt won't derail Newcastle United's plans

Rumours that Saudi Arabia's Public Investment Fund might scale back its LIV Golf involvement have not altered Newcastle United's stance; reports say PIF remains committed to the club, which continues long-term projects like a £200 million training ground and possible St James' Park redevelopment, with senior figures visiting Tyneside. Newcastle's performance under PIF ownership — two Champions League qualifications, top-five finishes, and rising player values — contrasts with LIV Golf's uncertain future.

via HITC Sport|

#business #liv-golf #newcastle-united