Saudi golf – Saudi investment priorities are shifting as PIF stops funding LIV, while new golf venues like Five Iron expand.
Saudi Arabia’s relationship with LIV Golf is changing, but the country’s push to shape the wider sports and entertainment landscape is not going away.
Misryoum reports that in late April. indoor golf and entertainment operator Five Iron Golf opened its first Saudi location after nearly three years of coordination with Golf Saudi. an affiliate tied to the Kingdom’s Public Investment Fund (PIF).. The venue. placed on the ground floor of the PIF Tower in Riyadh. blends simulator play with leagues. lessons. and a broader entertainment offering—positioning golf as both a leisure activity and a commercial experience.
Five Iron’s cofounder and CEO. Jared Solomon. says the concept is designed for “having a great time. ” reflecting an emphasis on engagement rather than traditional golf club culture.. Misryoum also notes that the Saudi launch follows the brand’s earlier growth path. including locations in the United States and overseas through franchise-style arrangements.
A short insight: The move suggests Saudi-backed investment may be favoring projects that fit directly into domestic lifestyle, tourism, and brand-building goals, rather than betting on sports platforms with more reputational and competitive uncertainty.
Five Iron currently operates more than 40 venues across the U.S.. and Misryoum says it has expanded internationally via franchise agreements in markets such as Singapore. Dubai. Spain. and Portugal.. For the Saudi rollout. Solomon declined to detail deal terms. but indicated that franchise agreements often involve upfront fees and a share of revenue. with expectations set for longer-term expansion at the PIF Tower site.
The larger story in the region, however, has been PIF’s decision to stop funding LIV Golf.. Misryoum reports that the fund said continued support no longer matches its investment strategy. citing “investment priorities and current macro dynamics.” The change lands after years of controversy around LIV’s role in disrupting professional golf and its ability to draw players away from the PGA Tour.
A short insight: This pivot matters because it signals how quickly even large, politically visible sports bets can be re-evaluated when an investment approach shifts toward measurable value and alignment with broader strategy.
Beyond golf, the decision also fits into a wider discussion about how PIF is evolving.. Misryoum points to recent indications that the fund is moving from rapid expansion toward a framework emphasizing sustained value creation. efficiency. and governance.. That reframing comes as global conditions remain complicated, including volatility in energy markets and shifting priorities for high-cost national projects.
While stopping LIV support does not necessarily mean Saudi investment abroad is ending. Misryoum highlights that PIF’s diversification still includes major technology and partnership themes.. The Five Iron deal. by contrast. appears smaller in scale and more closely tied to domestic growth goals. including increasing participation in the sport and improving the Kingdom’s leisure and entertainment infrastructure.
A short insight: If the Saudi golf model delivers steady returns and strong public uptake, it could become a template for how PIF-backed efforts balance commercial ambition with reputational risk management.
For Five Iron, Solomon frames the aim as making the venture work for PIF and for Saudi audiences.. Misryoum reports he expects the brand to expand if the project meets its objectives—growing golf access and sustaining a commercially viable business—suggesting the Kingdom’s sports strategy may be recalibrating. not retreating.