LIV GOLF SEEKS 'LONG-TERM FINANCIAL PARTNERS' AS SAUDI ARABIA'S PIF CONFIRMS EXIT

 

[US, Mexico & Canada customers only] Feb 5, 2026; Riyadh, SAUDI ARABIA; Bryson DeChambeau in action during the second round of play at LIV Golf Riyadh at the Riyadh Golf Club. Mandatory Credit: Reuters via Imagn Images

LIV Golf plans to continue without the financial backing of Saudi Arabia's Public Investment Fund, touting "100% year over year" financial growth in 2026.

The Public Investment Fund (PIF) formally announced it would end financial support of LIV Golf at the end of the 2026 season.

"PIF has made the decision to fund LIV Golf only for the remainder of the 2026 season," a PIF statement read Thursday. "The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF's investment strategy. This decision has been made in light of PIF's investment priorities and current macro dynamics."

Under a reshaped model, LIV established a new, independent board and envisions further commercial agreements to stabilize the intended PGA Tour competitor.

"LIV Golf is transitioning from a foundational launch phase to a diversified, multi-partner investment model, with a formal process underway to attract long-term financial partners," the circuit said in a statement Thursday, hours after learning the financial underpinning from the PIF was ended.

Signs of a fracture in the PIF-LIV emerged earlier this year and simmered to the surface last week, when ESPN obtained an email LIV CEO Scott O'Neil sent to staff claiming the 2026 season will continue "exactly as planned, uninterrupted and at full throttle." He made no mention of LIV's future beyond 2026, however.

LIV said the new board will be headed by Eugene Davis, the Chairman and Chief Executive Officer of PIRINATE Consulting Group LLC and Jon Zinman, the founder and managing member of JZ Advisors LLC. They are tasked primarily with "institutionalizing the league, formalizing its ownership structure, and evaluating the range of strategic opportunities," LIV Golf said Thursday.

Founded in 2021, LIV Golf made its debut in June 2022 and used lavish, guaranteed contracts to lure dozens of stars like Dustin Johnson, Phil Mickelson, Jon Rahm and Bryson DeChambeau away from the PGA. PIF has provided LIV with more than $5 billion, but the league has reportedly lost millions of dollars per year. Earlier this month, Yasir Al-Rumayyan, PIF's governor and LIV's main financial backer, shared a plan for the kingdom to cut back on international investments and focus on more domestic projects.

DeChambeau, Cameron Smith and Rahm reportedly turned down the opportunity to return to the PGA Tour earlier this year. According to MSN.com, some LIV players have reached out to the DP World Tour.

--Field Level Media

F1 HAS ANNOUNCED A NEW COLLABO WITH DISNEY FOR 2026

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DSTV PREMIERSHIP: CHERY SOUTH AFRICA BECOMES OFFICIAL MOBILITY PARTNER OF SUNDOWNS

Chery South Africa is proud to be the Official Vehicle Partner of Mamelodi Sundowns, one of South Africa’s most decorated and popular football clubs. Known as ‘The Brazilians’ for their bold style of play and their iconic yellow kit, Sundowns have a rich history that spans over five decades.

The club is a powerhouse locally and across the continent with a record number of league titles, numerous domestic cups, and Continental triumphs in the CAF Champions League and African Football League.

As part of this exciting partnership, Chery will provide the team with a fleet of SUVs, ensuring they travel comfortably and in style to matches, club engagements, and community events. This collaboration is a natural fit, bringing together two high-performing brands known for their commitment to excellence.

“We are thrilled to partner with Mamelodi Sundowns,” said Tony Liu, CEO of Chery South Africa. “The partnership reflects our dedication to supporting local communities and sports programmes within the country, and aligns with our ongoing efforts to make a meaningful contribution to South Africa.”

Chery’s latest partnership goes beyond sponsorship. The automaker is committed to making a meaningful impact in South Africa, and working together with Mamelodi Sundowns allows the marque to support local communities, develop sports programmes, and contribute to its corporate social responsibility goals.

Mamelodi Sundowns’ Chairman, Tlhopie Motsepe, welcomed the partnership and said: “At Mamelodi Sundowns, we follow the philosophy of Ubuntu—our success belongs to our supporters, our communities, and the people who make us who we are.”

“We are delighted to welcome Chery to the Mamelodi Sundowns family because we are united by ambition and people-first values,” added Motsepe. “From day one, we will push boundaries, excite South Africans, and empower communities across the country.

A lucky supporter will win a Chery Tiggo 4 Pro at Loftus Versfeld Stadium when Mamelodi Sundowns lift the PSL trophy for the record 15th time, and an unprecedented 8th time in a row.

Chery’s presence in South Africa extends beyond just sales and after-sales service. The automaker has several initiatives, including the With Chery With Love (WCWL) programme, which strengthens the brand’s bond with local communities through projects like the Chery Foundation.

Other efforts include the Chery Scholarship Challenge, which empowers talented South African youth with a R250,000 scholarship and a 12-month internship at Chery, reflecting the same forward-thinking spirit that drives Mamelodi Sundowns on the pitch.

 - Dennis Mabuka

 

FIRST SPONSORSHIP DEAL FROM AFRICA WITH SPANISH GIANTS ATLÉTICO MADRID

The ‘Visit Rwanda’ campaign has secured a new partnership with Spanish football giants Atlético Madrid, expanding its growing roster of elite football club sponsors

• Rwanda's 'Visit Rwanda' campaign partners with Atlético Madrid, adding to its sponsorship deals with Arsenal, PSG, and Bayern Munich

• The deal includes a technical development component for young Rwandan players and coaches

• Critics have raised concerns about the government prioritizing sponsorships over pressing domestic concerns

This latest three-year sponsorship agreement makes Atlético Madrid the fourth major European club to feature Rwanda's tourism branding, following similar deals with Arsenal, Paris Saint-Germain (PSG), and Bayern Munich.

As part of the partnership, the "Visit Rwanda" logo will appear on the kits of both Atlético Madrid’s men’s and women’s teams beginning next season.

The move is part of Rwanda’s strategic push to market itself as a premier global tourism and investment destination through high-profile sports marketing.

Jean-Guy Afrika, CEO of the Rwanda Development Board, said:

“Through this collaboration, we aim to showcase Rwanda as an attractive destination for investors, a unique experience for global travelers, and a platform for nurturing talent and expanding opportunities for young Africans through sport.”

Óscar Mayo, Atlético de Madrid’s General Director of Revenue and Operations, emphasized:

“Visit Rwanda’s great importance as a partner in our club’s goal of international expansion. We are always looking for partners with global solvency, linked to football and Visit Rwanda is an example of this. It is a country in constant growth and I am convinced that we will both benefit from this partnership.”

The deal also includes a technical development component that will grant young Rwandan players and coaches access to Atlético Madrid’s world-class training expertise.

Protests mount over 'Visit Rwanda' sponsorships

While the Rwandan government celebrates this milestone, critics—including some human rights organizations—have questioned the country’s priorities, arguing that high-profile sponsorships come at the expense of pressing domestic concerns such as governance, civil liberties, and press freedom.

This new partnership comes amid ongoing protests from Arsenal supporters, who have criticized the club's association with Rwanda due to the country's alleged involvement in the conflict in the Democratic Republic of Congo (DRC).

According to the BBC, Arsenal's management has declined to comment on the activities of a new rights group within the club - the Gunners for Peace campaign, which is pressuring the club to drop its sponsorship deal with Visit Rwanda.

The Congolese government also protested the sponsorship deals, urging clubs like Arsenal to cancel their partnerships with Visit Rwanda.

This call to action stems from allegations of Rwanda's involvement in the conflict in the Democratic Republic of Congo, which the Congolese government strongly condemns.

A Rwanda government spokesperson defended their sports partnerships, saying they help boost the country's economy.

Meanwhile, PSG has renewed its partnership with Visit Rwanda until 2028, while Bayern's deal is set to expire the same year.

- SOLOMON EKANEM

SIMBA SPORTS CLUB SPONSORSHIP DEAL WITH M-BET

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