LIV Golf to Lay Off Majority of Staff as Investor Search Accelerates

LIV Golf has informed the majority of its workforce that they will be laid off in the first week of September, according to Reuters reporting published by The Guardian. The staffing reduction follows the completion of the league’s 2026 season in Indianapolis and comes as LIV prepares to operate without continued financial support from Saudi Arabia’s Public Investment Fund.

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The PIF announced four months ago that it would end its backing of the league after spending more than $5 billion over five years, Reuters reported. LIV had already notified workers in the United States and the United Kingdom that layoffs were possible, meaning Wednesday’s announcement followed an earlier warning to staff.

In a statement reported by Reuters, a LIV spokesperson said the league was reducing operations while attempting to move into its next phase, known as LIV 2.0. The organization said employees affected by the transition would finish under the existing structure in early September, while adding that it intended to support those losing their jobs.

Chief executive Scott O’Neil is working to complete an agreement with a new lead investor, but he has acknowledged that the timetable is compressed. Any deal will also need support from a majority of LIV’s current players. Reuters reported that Ted Goldthorpe, who leads investment firm BC Partners, has agreed to a term sheet as the prospective lead investor, although the transaction has not been finalized.

The restructuring arrives amid other signs of financial pressure. The planned season-ending team championship in Michigan was cancelled, the prize purse for the Indianapolis tournament was reduced by nearly half, and several vendors are still awaiting payment, according to Reuters. O’Neil, who replaced Greg Norman as chief executive in early 2025, has said the league intends to address obligations to vendors and contractors that have sued over unpaid bills.

LIV’s proposed new model calls for 10 tournaments in 2027, split evenly between the United States and international markets. Reuters reported that O’Neil has been seeking between $250 million and $350 million in investment, with profitability targeted after three years. Until a funding agreement is completed and players approve it, however, the precise shape of LIV 2.0 remains uncertain.