{
  "id": 10490163,
  "title": "Saudi PIF Cuts $15M Series From Ladies European Tour",
  "url": "https://urgent.news/2026/09/28/saudi-pif-cuts-15m-series-from-ladies-european-tour",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-09-28T16:52:01.000Z",
  "source": {
    "name": "Front Office Sports",
    "slug": "front-office-sports",
    "url": "https://frontofficesports.com/article/saudi-pif-cuts-15m-ladies-european-tour/"
  },
  "original_language": "en",
  "account": "The Saudi Public Investment Fund (PIF) is discontinuing its $15 million series of elevated events on the Ladies European Tour (LET). This decision marks a shift in the PIF's global golf strategy, as the fund is in the process of ending its involvement with LIV Golf, currently in bankruptcy proceedings. Saudi Arabia's sovereign wealth fund had invested over $5 billion in LIV since its inception in 2022. The PIF's women's series, which paid $15 million in prize money for five events this season, will not return in 2027, according to a Monday announcement. Last year, the five-event series awarded $13 million in prize money. From 2021-2024, this series was known as the Aramco Team Series, offering mostly $1 million purses. Golf Saudi, the commercial development arm of the Saudi Golf Federation, explained that \"the shape of our investment has changed as our strategy has developed.\" The PIF, with an overall value of $1 trillion, is reallocating its investments towards areas with the greatest impact, including grassroots growth in Saudi Arabia, season-long support for the LET, and a championship at the top of the women's game. While most LET tournaments have purses around $500,000 or less, the loss of the PIF-backed events is a significant setback for the tour, primarily serving as a stepping stone for players aiming to join the premier LPGA Tour. Despite the funding reduction, Golf Saudi will continue to support a $2 million event in London, co-sanctioned by the LET and LPGA, with an increased purse of $4 million. The PIF Global Series, which previously co-sanctioned a $2 million event in London, has not yet determined a venue for 2027, set to take place July 22-25, a week prior to the AIG Women's Open in England. The 2026 PIF Global Series included a $4 million LET-LPGA co-sanctioned event in Las Vegas, but it is unlikely to return next year. The PIF-funded Saudi Ladies International, a regular on the LET schedule since 2020, paid out $5 million in prize money this year. The 2027 LET schedule has not been announced yet, but Golf Saudi will take over the sponsorship of the LET's Order of Merit season-long points race. This season's bonuses were €75,000 for first place, €50,000 for second, and €25,000 for third, with the 2027 bonuses to be revealed later in the year. The overall decline in LET funding occurs as the remaining events on the 2026 International Series, previously elevated to $2 million by the PIF, have lost funding due to LIV's turmoil and the Asian Tour's transition to a new agreement with the PGA Tour and DP World Tour.",
  "summary": "The PIF Global Series has five LET events this year.",
  "key_points": [
    "Saudi PIF cuts $15M series from Ladies European Tour",
    "PIF reallocating investments to grassroots growth, LET support",
    "London event continues with $4M purse, 2027 venue uncertain"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}