PIF announces cut in investment in LIV Golf and reaffirms commitment to Newcastle United
On May 1, 2026, Saudi Arabia’s Public Investment Fund (PIF) announced that it will end its funding of LIV Golf at the end of the 2026 season. The decision leaves the golf series, which has received more than US$ 5 billion since its launch in 2022, looking for new backers.
Continued commitment to the club
Eddie Howe, Newcastle United’s manager, said the club’s Saudi owners remain firmly committed to the team’s success, even as the PIF prepares to cut ties with LIV Golf. The sovereign wealth fund, chaired by Saudi Crown Prince Mohammed bin Salman, is involved in several sports and acquired Newcastle in October 2021.
In an interview on Friday, Howe commented on a recent meeting with PIF representatives: “The owners and PIF representatives were here, and the meetings were constructive and productive. I was part of that,” the manager said. He added that “it’s always constructive, because they clearly care a lot about the club.”
Expectations for the future
Howe highlighted the importance of the club’s long-term planning and expressed optimism about the future, regardless of current difficulties. “The desire remains unchanged: to try to get to the top of the Premier League and win as many trophies as possible on a consistent basis. I don’t believe that will change as long as the PIF is our owner, or part-owner, or majority owner,” he said.
In its statement on cutting investment in LIV Golf, the PIF stressed that it will continue to allocate capital internationally, in line with its investment strategy, prioritizing the sports sector in its future plans.
Newcastle’s performance under new ownership
Since the Saudi takeover, Newcastle performed well in its first seasons, qualifying twice for the Champions League and winning the League Cup last year. However, the team is struggling this season, currently sitting 14th in the Premier League table after four consecutive defeats, which has raised questions about Howe’s future in charge of the team.
“I’ve never needed clarity in my head, in the sense that I’m here, working and committed,” Howe said. He stressed the importance of showing positive results on the pitch: “A football club has to do what is necessary. The club needs to show that we are heading in the right direction and that there is a positive feeling, fighting on all fronts. You can talk as much as you want, but the proof is in how the team performs. I’m aware that this needs to be positive.”
