BC Partners Credit, a unit of UK-based private equity company BC Partners, has committed $300 million to LIV Golf as the bankrupt golf league seeks to rebuild following the withdrawal of financial backing by Saudi Arabia’s Public Investment Fund (PIF).
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The Qiddiya Investment Company said The National Golf Club, Qiddiya City, will open on Friday, Oct. 30. The announcement also confirmed the appointment of Golf Saudi as operator under a five-year management agreement.
Al-Riyadh secured a 2-1 victory over Al-Taawoun in the Saudi Pro League, breaking a losing streak against them that dated back to 2015. With goals from Teddy Okou and Bernard Mensah, Al-Riyadh rose to 11th in the league, while Al-Taawoun remained winless.
Al-Ittihad secured a valuable home victory against a resilient Diriyah side on Friday, a day when all of the Saudi Pro League’s top five were in action.
Saudi football clubs face pressure to find new funding as the kingdom shifts ownership towards private investors, while high wages and limited broadcasting income make profits harder to achieve.
