investment fund

It has hosted several major sporting events, including in football, Formula 1, golf and boxing, while the country's Public Investment Fund has launched the breakaway LIV Golf series, taken control of four Saudi Pro League clubs and purchased Newcastle United.

The sentence comes after Hwang was found guilty of fraud and market manipulation in a case linked to the failure of his investment fund Archegos Capital Management in 2021.

Saudi Arabia's Public Investment Fund owns a majority stake in Newcastle, as the country continues to invest millions into sport.

Rory McIlroy, a critic of LIV Golf, says Donald Trump’s presidential win could hasten a deal between the PGA Tour and the Saudi Public Investment Fund that owns LIV.

Rory McIlroy has never been a supporter of the Saudi Public Investment Fund and LIV Golf.