Business & Finance
LIV Golf cuts staff and scales back operations as Saudi funding ends
The league is downsizing its workforce ahead of a planned restructuring and search for private investment.
The short version
- LIV Golf notified employees that their roles will terminate in early September following the loss of financial backing from Saudi Arabia's Public Investment Fund.
- The league is attempting to restructure into a streamlined format called LIV 2.0 and is seeking to finalize a deal with a new lead investor.
- Leadership has not ruled out filing for bankruptcy, and the league currently faces legal claims from unpaid vendors.
- The future status of marquee players and the league's proposed 10-event schedule remain unresolved.
Key facts
- LIV Golf notified staff that employment under its initial operational structure will end during the first week of September 2026.[Associated Press]
- Saudi Arabia's Public Investment Fund decided to halt financial backing after the league's fifth season as it shifted investment priorities.[Associated Press]
- LIV previously submitted a Worker Adjustment and Retraining Notification in July signaling upcoming layoffs.[Associated Press]
- CEO Scott O'Neil stated that he reached terms with a prospective lead investor and has not ruled out a bankruptcy filing during restructuring.[Associated Press]
- The circuit shortened its most recent season, canceling scheduled stops in New Orleans and Michigan while facing two vendor lawsuits over unpaid services.[Associated Press]
What remains uncertain
- The total number and proportion of employees affected by the staff reductions have not been disclosed.[Associated Press]
- Whether LIV will successfully close its agreement with the prospective lead investor, reported to be BC Partners, remains unfinalized.[Associated Press]
- The future playing commitments of top contracted golfers, including Bryson DeChambeau and Jon Rahm, have not been resolved.[Associated Press]