Saudi Arabia cancels sports funding and hosting plans
Updated
Updated · DW (English) · May 6
Saudi Arabia cancels sports funding and hosting plans
14 articles · Updated · DW (English) · May 6
The pullback hits LIV Golf, the Saudi Arabia Grand Prix, WTA backing, the Saudi Arabia Masters, and bids for the 2035 Rugby World Cup and 2029 Asian Winter Games.
The Public Investment Fund said weak returns and regional turmoil linked to the US-Israel war on Iran prompted a strategy shift toward efficiency, governance and domestic capital redeployment.
The move threatens Saudi-backed sports from Formula One to snooker, while football and MMA appear more protected as Riyadh preserves some investment before hosting the 2034 World Cup.
Did financial failure or geopolitical fallout force Saudi Arabia to abandon its controversial 'sportswashing' project?
With its global sports empire shrinking, where will Saudi Arabia place its next multi-billion dollar bet for a future beyond oil?
As LIV Golf's funding vanishes, will its star players be welcomed back by the PGA Tour or left in the cold?
Saudi Public Investment Fund Retracts $73.6B from Global Sports, Refocuses on Vision 2030
Overview
Facing a $73.6 billion budget deficit in 2025 and rising geopolitical risks from Middle East conflicts, Saudi Arabia's Public Investment Fund shifted its strategy by reallocating 80% of capital toward domestic projects. This pivot led to ending funding for LIV Golf, abandoning the 2035 Rugby World Cup bid, and creating uncertainty around other international events. Meanwhile, the 2026 Saudi Arabian Grand Prix was cancelled due to security concerns. The kingdom is now focusing on building sports infrastructure and leagues at home, including continued investment in the 2034 FIFA World Cup, the Saudi Pro League, and strategic assets like Newcastle United, aiming for sustainable growth aligned with Vision 2030.