Saudi Arabia’s PIF deepens its golf influence with latest sponsorship

The GIST: Saudi Arabia’s Public Investment Fund (PIF) is stepping up its golf investment on the women’s side. The PIF was announced yesterday as the new title partner of the Saudi Ladies International event, which will feature a $5M prize pool — one of the largest in women’s pro golf outside of the LPGA’s five majors and a few other LPGA Tour events.

• While Saudi Arabia has been reshaping the game on the men’s side, the move represents the increasing impact PIF investment is having on the women’s game. Now there’s an angle of attack.

The details: The tourney’s prize pool is on par with the PIF Saudi International, the men’s equivalent on the Asian Tour. The women’s event is on the Ladies European Tour (LET) circuit, which has partnered with state-owned Saudi oil company Aramco since 2021. This year’s tourney will host 112 golfers, including several top LPGA players, and features a team format for the first time.

• The LET’s calendar often conflicts with the LPGA’s, yet golfers on the American tour carve out time for this lucrative event and the Aramco Team Series. The winner of the individual segment of the tournament will nab $675K, which is actually less than the $750K last year’s winner Patty Tavatanakit took home.

The context: While the PGA and LPGA have been the top global tours for decades, PIF–backed LIV Golf has caused a rift in the men’s game, with top golfers leaving for greener pastures. Although a long-rumored women’s LIV Golf tour has yet to materialize, this latest partnership signals that PIF still wants to bankroll women’s golf and will bring in big names to promote it.

• Saudi Arabia has already been able to influence the LET, with several state sponsors footing the bill for its biggest events. Plus, PIF–operated golf governing body Golf Saudi blocked a proposed merger between the LET and LPGA last year that was in the works since 2019. Drama.

Zooming out: The PIF has successfully executed a similar strategy in women’s tennis, first by pursuing a 1000-level tour event and then scoring a multiyear bid to host the WTA Finals. Both tennis and golf tours need the money, and Saudi Arabian entities are clearly interested in footing the bill.

• However, Saudi investment does come with a price. Many have expressed concerns about sportwashing, especially surrounding the country’s policies toward women and LGBTQIA+ people.