PIF announced Thursday that it will cut funding to LIV Golf at the end of the 2026 season.
Published May 1, 2026
Manager Eddie Howe said Newcastle United’s Saudi owners remained as committed to the club’s success as ever, despite the Public Investment Fund preparing to cut ties with the LIV Golf Series.
PIF, which has spent more than $5 billion on LIV Golf since its launch in 2022, announced Thursday that funding will be cut at the end of the 2026 season and exit circuits will compete for new backers.
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The sovereign wealth fund, chaired by Saudi Arabia’s Crown Prince Mohammed bin Salman, is also involved in several other sports and acquired Newcastle in October 2021.
Asked about this week’s meeting with PIF, Howe told reporters on Friday: “The owners and representatives of PIF are done, but it was a good, constructive meeting, and I was a small part of it.”
“They obviously care a lot about the football club so that’s always positive,” the English manager said ahead of Saturday’s home match against Brighton & Hove Albion.
“Regardless of what happens in the short term, long-term planning is clearly underway at many levels and it will be an exciting time for the club ahead…
Our desire to reach the top of the Premier League and consistently win as many trophies as possible remains the same. I don’t think that will change as long as PIF is an owner, or a partial owner, or a majority owner of our company. ”
In a statement announcing the reduction in funding to LIV Golf, PIF added that it remains committed to deploying the funds internationally in line with its investment strategy, which “includes current and future investments in a variety of sports as priority areas.”
Newcastle enjoyed some success in their first few seasons under Saudi ownership, qualifying for the Champions League twice and winning the League Cup last year.
However, their struggles this season have seen them sit 14th in the Premier League after four consecutive defeats, raising questions about Howe’s future at the club.
“I’ve never needed clarity in my head in the sense that I’m here, I’m working, I’m dedicated,” he said.
“Football clubs have to do what football clubs have to do. Football clubs need to make sure that we are going in the right direction and that there is positivity and fight on all sides.”
I can talk about it as much as I want, but the proof is in the team’s performance. I have no illusions that it has to be a positive thing. ”
