LIV Golf poised to inform players that Saudi funding will end this year
LIV Golf executives are poised to confirm to players that Saudi Arabia’s funding of the circuit will cease at the end of 2026, in a move that will begin a scramble between some leading names in the sport to return to traditional tours.Without an alternative and unlikely funding source from 2027 onwards, LIV in its current form is staring at closure just four years on from staging its first tournament.Nothing has materially changed for LIV in recent weeks yet formal admission of an upcoming Saudi exit will be viewed as a key moment in a disruption story that is heading towards a messy finale.The Saudi Public Investment Fund, which has ploughed more than $5bn (£3.7bn) into LIV, informed the tour’s management of a change in approach during meetings in New York immediately after the conclusion of this month’s Masters.
The conflict in the Middle East has been cited at least in part for that stance.Yasir al-Rumayyan, the governor of the PIF and a champion of LIV since inception, is no longer understood to be be playing a key role in the breakaway tour’s future.Instead, Saudi Arabia’s crown prince has insisted upon a general shift in strategy which directly affects LIV given its reliance on PIF cash.Scott O’Neil, LIV’s chief executive, was publicly bullish during a subsequent tournament but vague about finance post-2026.O’Neil had hoped to convince the PIF to retain faith with LIV.
The Wall Street Journal first reported O’Neil will hold meetings with players and staff on Thursday, outlining in detail the PIF reversal and the obvious black hole that will create.O’Neil will hope that frees him up to hold talks with potential investors but the outlook for LIV appears grim.Jon Rahm, Bryson DeChambeau and Cameron Smith are among major winners who are contracted to LIV, having signed deals collectively worth hundreds of millions.Players will inevitably want to know whether they are permitted to walk away from those deals and begin negotiations aimed at a return to the PGA Tour.However, any such talks will inevitably be complicated – the PGA Tour is not only in an increasingly strong bargaining position but must be seen to apply reasonable sanctions to returning players to appease members who did not switch to LIV.
Next week, LIV Golf Virginia is due to be staged at Trump National Golf Club north-west of Washington DC.LIV has postponed a planned stop in Louisiana in June.
Bank of England keeps interest rates on hold with committee split 8-1 – business live
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Tell us: how will cuts to paid parental leave in the US affect you?
US companies Deloitte and Zoom are reducing how much paid parental leave they offer employees.Starting in January 2027, Deloitte employees, mainly in support roles such as administration, IT support, and finance, will see their parental leave cut from 16 weeks to eight weeks, Business Insider reported.At Zoom, birthing parents now get 18 weeks of paid parental leave, rather than 22 to 24, and non-birthing parents get 10 weeks, down from 16, the publication said.Has your place of work announced a similar scaling back of paid parental leave? We would like to hear from you. How will your paid parental leave change? How will this affect you? Tell us
Galaxy S26 review: Samsung’s still-compact flagship Android
Samsung’s compact flagship phone hasn’t changed much in a year, but the S26 is still one of the best smaller handsets available as rivals grow larger and larger.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.The S26 is the cheapest and smallest of this year’s top Samsungs, dwarfed by the top-of-the-line S26 Ultra in size and price
‘Your questions are designed to trick me’: combative Musk grilled over battle with Sam Altman
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Blues win Women’s State of Origin opener in fast fight with Maroons – live reaction
What an exciting game to start the series – NSW will be very relieved to get the win with the next two games being played in Queensland and will feel confident that they can snatch a win up there.The Maroons will take a lot of heart from that performance though. They lost two players to HIAs, both important players to their side, and they still were in the match right until the final whistle. They will have a lot of belief that they can win the final two matches with home crowds behind them.Thank you so much for joining us tonight – I hope you enjoyed this game as much as I did! Champagne rugby league out there in Newcastle tonight
LIV Golf in race against time for investment with Saudi funding to dry up
LIV Golf has launched its search for fresh investment in a race against time to save its future after all but confirming Saudi funding will cease at the end of the 2026 season.In a statement, LIV announced two members of a new independent board minus Yasir al-Rumayyan, the governor of Saudi Arabia’s Public Investment Fund (PIF), who has been the driving force behind the start-up since it began in 2022 and invested about $5bn (£3.7bn). For now, at least, the tour is confident it can source the necessary sponsors and partners to allow LIV to continue in some form.Without any mention of PIF, LIV announced a “transition from a foundational launch phase to a diversified, multi-partner investment model” and a new independent board led by the seasoned business consultants Gene Davis and Jon Zinman
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