Metropolitan Opera's funding agreement with Saudi Arabia falls through, Met officials say

The planned partnership between the Metropolitan Opera and the Saudi Arabian government is off, Met officials announced on Thursday.

The Met cited the "current economic situation in Saudi Arabia" as the reason for the deal falling through, referring to the turmoil in the Strait of Hormuz amid the ongoing U.S.-led war in Iran, which has impacted the economies of several Middle Eastern nations.

The Met said the original agreement, which was announced in September 2025, "was part of a cultural exchange that would have brought the Met company to Saudi Arabia to perform in their new opera house, scheduled for completion in 2029, and that would have provided a significant new revenue stream for the Met."

The New York Times reported the Saudis were prepared to give the Met upwards of $200 million over the next eight years.

The New York performing arts company had been trying to secure funding in response to losing revenue and audience during the COVID-19 pandemic, which caused it to dip deep into its endowment, the Times reported.

The Met said in the interim it will pivot to other ways of securing funding, including a plan to "launch a public fundraising campaign, while pursuing other new revenue initiatives and cutting expenses."

The Met said no performances are being canceled.