Trump, Saudi Golf Boss, and Money Men Meet at LIV Golf Tournament: What’s Going On?

TL;DR: Former President Trump, the head of Saudi Arabia’s wealth fund, and a top private credit executive were spotted together at a LIV Golf event. This comes as the Saudi-backed league scrambles to find new money after its main funder pulled out.

What Happened at the Golf Club?

On Sunday, at the Trump National Bedminster golf club in New Jersey, a few very powerful people were seen hanging out together before the final round of a LIV Golf tournament:

• Donald Trump (former U.S. President and owner of the golf course)
• Yasir Al-Rumayyan (Governor of Saudi Arabia’s Public Investment Fund, or PIF — basically the country’s giant savings/investment account)
• Ted Goldthorpe (Head of BC Partners Credit, a big private lending firm)
• Gary Player (golf legend)
• Gabe Sauer (caddie for pro golfer Bubba Watson, who posted a video of the gathering on Instagram)

The Scene: They stood side-by-side in the player dining room. Trump was talking about Gary Player’s achievements. As Trump left the clubhouse, photographers caught Al-Rumayyan in the background.

Who Are the Key People?

The Money Problem: PIF Pulls Out

LIV Golf started in 2022 with billions of dollars from Saudi Arabia’s Public Investment Fund (PIF). But in April 2025, PIF said "we’re done funding this."

PIF’s Official Reason:
"The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF’s investment strategy. This decision has been made in light of PIF’s investment priorities and current macro dynamics."
(Translation: "It costs too much, and we have other priorities right now.")

Why Did PIF Change Its Mind?

• LIV Golf is expensive — player contracts, tournaments, TV production, etc.
• Saudi Arabia’s economy is under pressure — the U.S.-Israeli conflict with Iran has limited oil shipments through the Strait of Hormuz (a key shipping lane), hurting Saudi oil revenue.
• PIF wants to focus on other investments — tech, infrastructure, tourism (like NEOM), etc.

LIV Golf’s Search for New Cash

Since PIF walked away, LIV Golf CEO Scott O’Neil has been hunting for a new lead investor to keep the league running through 2027.

Recent Developments (August 2025)

Key Detail: Ted Goldthorpe (BC Partners Credit) was in the same room as Trump and Al-Rumayyan at Bedminster. Coincidence? Probably not.

What Might Happen Next?

Here are the most likely scenarios, from simplest to most complex:

1. BC Partners Loan

• LIV borrows money to fund operations for 2–3 years
• Risk: Loans must be repaid with interest — adds pressure to make profit

2. New Equity Investor

• A new person/firm buys a big stake in LIV
• Benefit: No repayment schedule; investor shares upside and risk

3. PIF "Clean Exit" + Player Equity

• PIF pays off remaining contracts (Jon Rahm, Brooks Koepka, etc.)
• Players get ownership shares in a restructured "LIV 2.0"
• Why? Aligns incentives — players are the product

4. League Shrinks or Merges

• Fewer tournaments, smaller fields, or a deal with PGA Tour
• Last resort if no money comes in

Why This Matters Beyond Golf

Important Callout:
This isn’t just about golf. It’s a window into:

• Saudi Arabia’s economic strategy (PIF shifting from "spend big on sports" to "focus on core priorities")
• Geopolitics (Middle East tensions → oil disruption → less cash for fun projects)
• Private credit’s growing power (firms like BC Partners stepping in where sovereign wealth funds step out)
• Athlete empowerment (players demanding equity, not just paychecks)

Summary

• Trump, Al-Rumayyan, and a top lender (Goldthorpe) met at a LIV Golf event — signaling serious money talks.
• PIF (Saudi wealth fund) stopped funding LIV in April 2025 due to cost and shifting priorities.
• LIV CEO Scott O’Neil says he has a new lead investor — but won’t say who.
• Reports point to BC Partners Credit (Goldthorpe’s firm) as a possible lender.
• PIF may pay off star players’ contracts to exit cleanly; those players could then own equity in "LIV 2.0."
• Bigger picture: Saudi economic pressure + rise of private credit + athlete power = a new model for sports leagues.

FAQ

What is LIV Golf?

A professional golf league started in 2022, funded by Saudi Arabia’s PIF. It features 54-hole tournaments (no cuts), team competition, and huge payouts — designed to rival the PGA Tour.

What is the PIF?

The Public Investment Fund — Saudi Arabia’s sovereign wealth fund. It invests the country’s oil wealth globally (stocks, real estate, companies, sports, mega-projects like NEOM).

Why did PIF stop funding LIV?

Official reason: "investment priorities and macro dynamics." In plain English: it got too expensive, and Saudi Arabia needs money for other things (especially with oil exports disrupted by regional conflict).

Who is Ted Goldthorpe / BC Partners Credit?

Goldthorpe runs the credit (lending) arm of BC Partners, a massive European private equity firm. They manage ~$40B+ and specialize in lending to companies — sometimes as a bridge to a sale or restructuring.

What does "LIV 2.0" mean?

A restructured version of the league — possibly player-owned, leaner, with new investors. Think of it like a startup doing a "Series B" funding round with a new cap table.

Will LIV Golf survive?

Too early to say. But with Trump’s platform, player equity incentives, and private credit interest — it has more paths to survival than most failed sports leagues.

Article based on reports from The Athletic, Bloomberg Law, Financial Times, and Instagram (Gabe Sauer), August 2025.