LIV Golf has been able to use the Public Investment Fund’s near-bottomless pit of cash to build a star-studded roster, but times could be changing for the Greg Norman-fronted league
Greg Norman’s plans to bolster LIV Golf’s roster with more star signings could have been dented after the tour’s backer announced plans to reduce spending.
The Saudi Arabia Public Investment Fund (PIF) has bankrolled LIV since it launched in 2022, but the fund’s governor Yasir Al-Rumayyan has revealed investments will be curbed on global projects, with spending to be more focused on domestic plans.
PIF owns assets worth almost £1trillion in sport and beyond, with Premier League club Newcastle United part of its portfolio. But according to the Financial Times, Al-Rumayyan spoke at the Future Investment Initiative conference in Riyadh on Tuesday to announce a reduction in spending overseas.
He said PIF’s global spending had “increased from 2 per cent all the way up to 30 per cent” in recent years and added: “Now our target is to bring it down to a range between 18 to 20 per cent. We’re more focused on the domestic economy and we’ve been achieving and doing so many big things.”
The decision is likely to reduce the budget available to LIV Golf CEO and commissioner Norman to make headline acquisitions this off-season. This time last year, LIV was laying the foundations for huge deals with Jon Rahm and Tyrrell Hatton – who signed contracts worth in the region of £450million and £50m respectively.
This time around, however, Norman might not have the same kind of cash to throw at PGA Tour stars in hopes of tempting them to jump ship. Norway’s Viktor Hovland and Japan’s former Masters champion Hideki Matsuyama have long been mooted as prime targets for the breakaway league, with Norman making no secret of his intentions to keep building LIV’s roster, despite ongoing peace talks with the PGA Tour.
LIV’s pursuit of Hideki Matsuyama could be inhibited by PIF budget cuts ( Image: GETTY)
“We’ve been trying to get Hideki Matsuyama,” Norman revealed earlier this year. “I don’t mind admitting that. When Hideki won in LA, what’s the first thing I did? I said, ‘Congratulations, Hideki. I’m proud of you, mate’.”
With PIF looking to focus more of its resources within Saudi Arabia rather than on projects overseason, Norman may not be able to hand out the same kind of blank cheques that were so alluring for the likes of Bryson DeChambeau and Dustin Johnson.
Norman’s future with the league is uncertain, too. The two-time major champion has been a divisive figure in the sport after leading the LIV breakaway, and it was reported by Sports Business Journal earlier this month that LIV was looking at replacements.
The Australian broke his silence on the situation this week, telling Sports Illustrated : “I’ll answer it this way: My contract is through August of 2025. My commitment to LIV has been unquestioned and my commitment into the future is also unquestioned.
“Time will tell. Will there be a change in my role? My position and my role is to deliver 2025 and get our schedule done and all the things we need to do.”
