LIV Golf lays off majority of staff as PIF funding ends
LIV Golf said on Wednesday it has laid off the majority of its workforce while it continues to secure funding for its next iteration with financial backing from Saudi Arabia's Public Investment Fund set to expire.
LIV Golf, a high-profile golf league funded by Saudi Arabia's Public Investment Fund, has announced the layoff of the majority of its workforce as it transitions from LIV 1.0 to the proposed LIV Golf 2.0. The funding from the Saudi fund is set to end at the conclusion of the 2026 season, prompting the restructuring. LIV Golf CEO Scott O'Neil acknowledged the pressure the league has faced and the need to build a new model, LIV 2.0, which would feature 10 events in the 2027 season, five in the United States and five internationally.
The transition is expected to take several months, despite optimism within the organization. The league has shown success in international markets, but the lack of Saudi funding poses significant challenges for its future operations.
Written by urgent.news from Yahoo Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- LIV Golf lays off majority of workforce sports.yahoo.com
- LIV Golf lays off majority of staff as PIF funding ends channelnewsasia.com
