How Saudi Arabia Spent $6B on Golf

Morning Edition

February 24, 2026

By the end of this year, the Public Investment Fund of Saudi Arabia will have invested more than $6 billion in LIV Golf. The league, now in its fifth season, was spending an average of $100 million per month in 2024 and 2025, financed by regular capital injections from the PIF.

—David Rumsey

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Saudi PIF Will Have Spent More Than $6B on LIV Golf by 2027

Reinhold Matay-Imagn Images

With LIV Golf two events into its fifth season, the Public Investment Fund of Saudi Arabia’s total spend on the league’s operations is projected to surpass $6 billion by the end of this year, new financial figures from Money in Sport reveal.

That estimate comes as the PIF’s investment in LIV, which launched in 2022, has now reached at least $5.3 billion, following a $266.6 million capital injection approved by PIF governor Yasir Al-Rumayyan on Feb. 1. In 2024 and 2025, LIV’s net spending averaged $100 million per month, financed by regular capital injections from the PIF, per the report.

In 2024, LIV Golf Ltd., the U.K.-based firm that runs LIV’s non-U.S. operations, publicly reported losses totaling $461.8 million. Other LIV operations, like its U.S.-based tournaments, fall under the U.S.-based LIV Golf Inc., which is private and does not release specific financial figures.

How Is LIV Spending Its Money?

Several key areas of operations are costing LIV the most money.

Tournament prize money and bonuses paid out to players and teams since 2022 will reach roughly $1.9 billion by the end of this year, with just over $500 million set to be awarded during the 2026 season. Event purses this year rose to $32.3 million from the $25 million the previous four seasons.

LIV’s biggest stars all attracted nine-figure contracts upon signing, including Jon Rahm, Bryson DeChambeau, Phil Mickelson, Brooks Koepka, Dustin Johnson, and Cam Smith. Many other players in LIV’s early days received contracts worth at least $10 million.

LIV also funds its event operations and broadcast production, although those costs are not public.

The league brings in some revenue from selling sponsorship deals, international media rights, ticket and merchandise sales, and contracts with some local governments in the markets that host tournaments. In January, LIV executives said they were laying the “groundwork” to sell team ownership stakes to outside entities, with the goal of $1 billion valuations for all 13 franchises.

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LOUD AND CLEAR

Winning Isn’t Everything

Feb 23, 2026; Tempe, Arizona, USA; Los Angeles Angels outfielder Wade Meckler (53) signs autographs prior to a spring training game against the Texas Rangers at Tempe Diablo Stadium.

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“The number-one thing fans want is affordability. They want affordability. They want safety, and they want a good experience when they come to the ballpark. Believe it or not, winning is not in their top five.”

—Angels owner Arte Moreno speaking about fan surveys the club has conducted. Attendance has stayed steady at around 2.5 million each of the last four years as Los Angeles’s streak of losing seasons has reached 10. The team is also still trying to determine a local television home after previously reaching a streaming deal with MLB Media. “We have to get our TV thing worked out, and we just have to improve our brand.”

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