Business & Finance
LIV Golf announces staff layoffs following end of Saudi sovereign wealth fund backing
The league is transitioning to a player-equity structure under a new lead investor after wrapping up its 2026 season.
The short version
- LIV Golf informed numerous staff members that their employment will end starting the first week of September 2026.
- The operational drawdowns follow the planned conclusion of funding from Saudi Arabia's Public Investment Fund at the end of the 2026 season.
- The circuit plans to launch a updated iteration known as 'LIV 2.0', structured with majority player equity and a reduced 10-event schedule for 2027.
- LIV Golf has signed a term sheet with a new lead investor, though the identity and details of the financial partner remain undisclosed.
Key facts
- LIV Golf notified employees that their jobs will end starting in early September 2026 as the organization scales back operations.[Fox News]
- The layoffs correspond with the conclusion of funding from the Saudi Public Investment Fund at the end of the 2026 season.[Fox News]
- LIV Golf CEO Scott O'Neil stated on August 5 that a signed term sheet was approved by the board to anchor the league's next operational era.[Fox News]
- Competing players are set to hold a majority equity stake under the proposed 'LIV 2.0' model.[Fox News]
- The preliminary plan for the 2027 season involves a 10-event schedule, split evenly between domestic U.S. and international venues.[Fox News]