Saudi Arabia will withdraw its multi-billion dollar backing of LIV Golf, but what does this mean for the country's other sporting investments? Dan Roan takes a closer look.

Reports and speculation about the professional golf league’s shutdown have swirled for weeks as Saudi Arabia’s Public Investment Fund has distanced itself from LIV.

A committee of independent directors will evaluate strategic alternatives for LIV Golf after PIF pulls its funding, people familiar with the matter told CNBC.