In 2023, the Saudis dove further into sports. They are expected to keep it up in 2024
1 year ago

In 2023, the Saudis dove further into sports. They are expected to keep it up in 2024

LA Times  

Phil Mickelson lines up a shot on the 18th hole during the first round of the Bedminster Invitational LIV Golf tournament in Bedminster, N.J., on July 29, 2022. At the dawn of 2023, the specter of Saudi Arabia’s growing influence on pro golf — and sports in general — served not only as a moral conundrum for players and their fans, but also, some argued, as an existential threat to the multibillion-dollar professional-sports industry. At the dawn of 2023, the specter of Saudi Arabia’s growing influence on pro golf — and sports in general — served not only as a moral conundrum for players and their fans, but also, some argued, as an existential threat to the multibillion-dollar professional-sports industry itself. “It is, as far as we can see, an almost endless growth industry.” The conversation over golf went front-and-center when Saudi Arabia’s Public Investment Fund, or PIF, the nation’s sovereign wealth fund, was laying the groundwork for LIV in early 2022. But the landscape of golf changed on June 6.” In a telling sign of the impact Saudi Arabia’s entrance into the golf scene has made, the top 10 players on the PGA Tour combined made $86.6 million in prize money in the season that ended in 2022; in 2023, that number rose to $124.1 million.

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