LIV Golf Cuts Majority of Workforce After PIF Funding Ends
Synopsis
LIV Golf has laid off most of its workforce following the end of Saudi Arabia’s PIF funding, as the breakaway league seeks new investment to finance its planned 2027 season.
LIV Golf has laid off the majority of its workforce as the Saudi Arabian Public Investment Fund (PIF) prepares to end its financial backing of the breakaway golf league following the conclusion of its 2026 season.
The league said on Wednesday that many employees had been informed their employment under what it calls “LIV 1.0” would end in the first week of September.
The workforce reduction comes as LIV scales back operations while attempting to secure funding for its next phase.
“As a result, we are scaling back operations as we transition to the next chapter of LIV Golf and work toward making LIV 2.0 a reality,” a LIV spokesperson said.
LIV has more than 300 employees globally, with the league saying it remains hopeful that many could return if its planned next iteration proceeds.
Saudi Funding Set to End After 2026 Season
The staff cuts follow a major shift in LIV’s funding structure. The PIF has invested more than $5 billion in the league since its launch in 2022, helping it attract some of golf’s biggest names with lucrative contracts and signing bonuses.
However, the sovereign wealth fund said in April that its funding would end after the 2026 season, which concluded at the weekend.
LIV had previously warned corporate employees in the United States and Britain that staffing reductions were possible as the league prepared for the transition.
The layoffs mark a significant change for a competition that has rapidly expanded since its launch and challenged the established professional golf structure by attracting players including Bryson DeChambeau and Jon Rahm.
LIV Pursues Funding for ‘LIV 2.0’
Despite the cuts, LIV said it remains confident about securing a future beyond its current structure.
The league has signed a non-binding term sheet with a lead investor that would provide funding for the 2027 season, although the proposed transaction has not yet been finalised.
LIV CEO Scott O’Neil thanked employees ahead of the season-ending event in Indianapolis, acknowledging their work throughout the year. “You showed up with work ethic and passion, and you did everything you possibly could to make the season happen,” O’Neil said.
The restructuring leaves LIV facing a crucial period as it attempts to convert its proposed funding arrangement into a completed deal and determine the scale and structure of its next phase.
Source: Reuters
Vishal is an experienced Editor at Inspirepreneur Magazine with key interests in artificial intelligence, eCommerce, entrepreneurship, lifestyle and startup sector. Prior to joining Inspirepreneur, he was a Content Writer cum Correspondent at Siliconindia Magazine, where he worked on Company Profiles, Cover Stories, Executive Profiles, Feature Articles and Thought Leadership content.
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