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01.05.26 - 06:00
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Saudi Arabia Public Investment Fund To Stop Funding LIV Golf After 2026 Season (ZeroHedge)
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Saudi Arabia Public Investment Fund To Stop Funding LIV Golf After 2026 Season
LIV Golf is preparing to inform players and staff that its main financial backer, Saudi Arabia's Public Investment Fund, will stop funding the league after the 2026 season, according to Golfweek. The announcement—expected midweek—would open the door for CEO Scott O'Neil to pursue new investment to keep the tour running.
Since launching in 2022 as a challenger to the PGA Tour, the circuit has reportedly burned through more than $5 billion while failing to gain meaningful U.S. viewership. Broadcast deals with The CW Network and later Fox did little to improve ratings.
Uncertainty around funding has been building. In April, O'Neil acknowledged the league is only financed through this season, saying future survival depends on securing new backers—even as he publicly maintained LIV is in its best position yet.
Golfweek writes that the timing aligns with a broader shift by PIF, led by Yasir Al-Rumayyan, toward pr...
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30.04.26 - 21:06
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Sternlicht′s Starwood Real Estate Fund Gates Redemptions (ZeroHedge)
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Sternlicht's Starwood Real Estate Fund Gates Redemptions
Earlier this month, when much of the attention was largely focused on private credit, we warned that one of the old, familiar credit market time-bombs, commercial real estate which for many years had been penned as the "Next Big Short", was deteriorating rapidly: according to the latest TREPP CMBS monthly report, March saw a surge in the CMBS delinquency rate, which jumped by 41bps to 7.55%, the highest in years, led by a surge in the lodging rate, a category which until now was not a source of concern.
It now appears that this particular time bomb is about to go off, as the huge redemptions wave that rocked private credit in recent months is making a move into commercial real estate.
According to Bloomberg, Barry Sternlicht's high-profile Starwood Capital Group Management is halting redemptions from a $22 billion real estate fund aimed at retail investors as it seeks to prevent a flight of assets amid mounting pressure ...
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