How the $5bn Saudi bet on LIV Golf unravelled

Saudi Arabia's Public Investment Fund (PIF) has spent approximately $5 billion backing LIV Golf, but the upstart league has failed to build a financially sustainable business model independent of PIF's wealth. The league's inability to generate sufficient revenues on its own has left it entirely reliant on continued Saudi state funding, raising serious questions about its long-term viability. The Financial Times reports that the venture has effectively unravelled as a commercial enterprise despite the massive financial commitment.