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Plans for the new North Adelaide Golf Course, designed by Greg Norman, were released in November. Picture: supplied.<\/p>\nPremier Peter Malinauskas has addressed news that LIV Golf plans to tell players and staff this week that Saudi Arabia\u2019s \u200cPublic Investment Fund (PIF) will stop funding the circuit after this season.<\/p>\n
The Wall Street Journal reported on Wednesday (Thursday AEST) that LIV Golf would inform players and staff by Thursday, citing people close to the tournament, but LIV has not \u200cimmediately responded when asked by Reuters for comment.<\/p>\n
Adelaide first hosted the sporting event in 2023, with the state government investing heavily in its future including starting preliminary works on a $45 million North Adelaide Golf Course redevelopment this week in its bid to grow the event in the state.<\/p>\n
Malinauskas said he had not received official correspondence from LIV to verify its loss of funding and that initial works on the golf course development would continue in the meantime.<\/p>\n
\u201cClearly there are reports of challenges and it\u2019s hard to know exactly what is going on. We continue to monitor the situation closely and naturally we\u2019re interested in it, and if the circumstances change we\u2019ll turn our minds to what that looks like,\u201d Malinauskas said.<\/p>\n
\u201cThe investment that we\u2019re making into the North Adelaide Golf Course is about ultimately a facility for community use. It makes a lot of sense economically as it stands but it\u2019s aided of course by hosting a major event.<\/p>\n
\u201cWe believe there\u2019s a strong case for making an investment into a public asset for the people of our state particularly considering that it will be a draw card for tourists in the heart of our city.\u201d<\/p>\n
But the latest LIV report has renewed lobbying to scrap the redevelopment, with Liberal leader Ashton Hurn saying it would be unjustified without major tournament backing.<\/p>\n
\u201cThe fact that the Saudis have already pumped around $8.5 billion into this program does mean that without that funding it\u2019s hard to see where they will find another multi-billion-dollar backer,\u201d Hurn said.<\/p>\n
\u201cIf LIV Golf is to fall over, then it is time for Labor to stop the diggers and keep that $45 million in the bank for all South Australians.<\/p>\n
\u201cWhen we\u2019ve got a situation where debt is spiralling, where emergency departments right across regional South Australia are closed, it\u2019s hard to see a reason why this can possibly be justified.\u201d<\/p>\n
Greens Leader Robert Simms was also backing calls for the state government to immediately halt work saying it was \u201ctime for common sense to prevail\u201d.<\/p>\n
\u201cWith reports that the Saudi Sovereign Wealth Fund are now withdrawing support for LIV Golf, it\u2019s clear that the 2028 Adelaide tour is not likely to proceed,\u201d Simms said.<\/p>\n
\u201cIt\u2019s simply not tenable for the Premier to push ahead with this golf course redevelopment. The whole business case has collapsed.<\/p>\n
\u201cHe needs to immediately halt all works, save the trees and spend the $45 million on other priorities.\u201d<\/p>\n
Plans for the new North Adelaide Golf Course, designed by Greg Norman, were released in November. Picture: supplied.<\/p>\n