By Prof Dr Ian Blackshaw
It has been reported that the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia is withdrawing funding of the independent LIV Golf professional men’s tour, at the end of the current season.
This move has raised questions, in international sporting circles, regarding the future of many of the other sports investments of the Kingdom.
The Kingdom has invested tens of billions of pounds during the past decade, with a view to establishing itself as a global sports hub, through hosting a variety of major international sports events. These have included high-profile boxing fights and Formula 1 races, as well as tennis and horse racing. Also, the Kingdom will be hosting the FIFA Men’s World Cup in 2034.
The Kingdom’s considerable spending has also included attracting some of the world's biggest sports stars - including Cristiano Ronaldo - to its revamped domestic football league and buying a majority stake in the English Premier League football club Newcastle United.
The PIF has released the following statement to the media:
"PIF remains committed to deploying capital internationally in line with its investment strategy, including its substantial current and future investments in various sports as a priority sector."
This statement appears to send a clear message that the Kingdom is still committed to the world of sport.
The Kingdom’s interest in sports investments was designed to help it to modernise and diversify its economy by boosting tourism, as part of the Vision 2030 strategy of the Crown Prince, Mohammed bin Salman Al Saud, the de facto ruler of the Kingdom, whilst, at the same time, inspiring its citizens to be more active.
However, critics of its human rights record have accused Saudi Arabia of 'sportswashing' its reputation, particularly relating to the killing, in 2018, of the US-based Saudi journalist, Jamal Khashoggi, who was a prominent critic of the Government.
The country has also faced scrutiny and criticism regarding its record-breaking use of the death penalty.
Prof Dr Ian Blackshaw may be contacted by e-mail at ‘