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The Saudi golf doubts are hinting at more to come

The war’s economic impact, with reinvestment needs in defence and infrastructure, refocuses attention on domestic demands

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    • From international real estate to US technology, Middle East funds have used their gushers of cash to boost soft power and diversify their economies away from oil.
    • From international real estate to US technology, Middle East funds have used their gushers of cash to boost soft power and diversify their economies away from oil. PHOTO: REUTERS

    Lionel Laurent

    Published Wed, Apr 22, 2026 · 05:46 PM

    LAST week, the golfing world got a billion-dollar shock when it emerged that Saudi Arabia’s Public Investment Fund (PIF) might be thinking about cutting its losses in LIV, the upstart PGA Tour challenger.

    It was not the only locally backed sport to face a new reality in a Middle East dealing with the effects of the US-Israeli war with Iran.

    PIF is also selling a majority stake in Riyadh’s Al Hilal Football Club to billionaire Prince Alwaleed Talal, while the kingdom is reportedly no longer planning to host the 2035 Rugby World Cup.

    GolfStrait of Hormuz

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