PIF said on Thursday that it would cut funding of LIV Golf at the close of the 2026 season.
Published On 1 May 2026
Manager Eddie Howe says that Newcastle United’s Saudi Arabian owners remained as committed as ever to the club’s success, even as their Public Investment Fund prepares to cut ties with the LIV Golf series.
PIF, which spent more than $5 billion on LIV Golf since it launched in 2022, said on Thursday that it would cut funding at the close of the 2026 season, leaving the breakaway circuit scrambling for new backers.
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The sovereign wealth fund, chaired by Saudi Crown Prince Mohammed bin Salman, is involved in several other sports and acquired Newcastle in October 2021.
Asked about meeting with PIF this week, Howe told reporters on Friday: “The owners and representatives of PIF were over, and it was constructive, good meetings, and I was a small part of that.
“It’s always constructive because they clearly care so much about the football club,” the English manager added, speaking ahead of a home match with Brighton & Hove Albion on Saturday.
“The long-term planning that is clearly going on, on a number of levels, it’s exciting times ahead for the club, regardless of what happens short term…
The desire is unchanged, to try and get to the top of the Premier League, to try and win as many trophies consistently as possible. I don’t think, while PIF are our owners, or part owners, majority owners, that will change.”
In its statement announcing it was cutting funding to LIV Golf, PIF added that it remained committed to deploying capital internationally in line with its investment strategy, “including current and future investments in various sports as a priority sector”.
Newcastle enjoyed some success in their first few seasons under Saudi ownership, twice qualifying for the Champions League and winning the League Cup last year.
However, they have struggled this season and are 14th in the Premier League standings after four straight defeats, leading to questions over Howe’s future at the club.
“I’ve never needed clarity in my head, in the sense that I’m here, I’m working, and I’m committed,” he said.
“A football club has to do what a football club has to do. The football club needs to see we are going in the right direction and there’s a positive feeling and fighting on all fronts.
You can talk as much as you want, but the proof is in how the team performs. I’m under no illusions that that needs to be positive.”
