Saudi Arabia's Public Investment Fund pulls funding of LIV Golf after £1bn loss - full statement

Saudi Arabia's Public Investment Fund (PIF) has announced it is withdrawing its financial backing of LIV Golf following reported losses of approximately £1 billion since the breakaway league's inception. The decision marks a significant blow to the controversial golf series, which was launched with Saudi backing to compete with the established PGA Tour. A full statement from PIF has been released outlining the rationale behind the funding withdrawal and the future implications for the league.