Public Investment Fund withdraws support for rebel tour and other sports could be hit too with Newcastle United uncertain
The reverberations of an unscheduled meeting of LIV Golf executives in New York this week have been felt way beyond their swanky offices in Hudson Yards, on the west side of Manhattan.
A slowdown in Saudi Arabia’s lavish spending on sport, which is conservatively estimated to have cost the kingdom more than $10bn in the past five years, had been expected, but its Public Investment Fund’s withdrawal of financial support for the rebel tour – which was first mooted to LIV execs on Monday – has caused shockwaves throughout the wider industry.
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