LIV Golf Lays Off Majority of Staff as PIF Funding Ends

LIV Golf has told a majority of its workforce that their employment will end in early September, the league confirmed Wednesday, three days after its season finale in Indianapolis. The cuts follow the expiration of a funding commitment from Saudi Arabia's Public Investment Fund, which the PIF announced in April it would end after the 2026 season.

Why Is LIV Golf Cutting Jobs Now?

"The funding commitment announced by PIF earlier this year will reach its conclusion," a LIV spokesperson said in a statement. "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." Employees in the US and UK were warned of possible redundancies in July. A number of staff will stay on through the transition, and LIV says it hopes some of those let go could return if the planned LIV 2.0 launches, though no roles have been decided.

What Comes Next for LIV 2.0?

LIV has a signed term sheet with a prospective lead investor, approved by its board but not yet finalized as a completed transaction. CEO Scott O'Neil discussed the proposed structure at LIV Golf Indianapolis, describing a league "majority owned by its players." The plan calls for a 10-event schedule in 2027, split between international team events and tournaments played mainly in the United States, with purses expected to fall to roughly $10 million per event from $30 million this season.

LIV's next chapter arrives with a smaller staff, a smaller schedule and a funding gap it has yet to close.

Several players, including Jon Rahm, are reportedly still owed money from their original LIV contracts. The league is expected to offer equity in the restructured circuit to help offset those obligations. O'Neil has held multiple meetings with players in recent weeks to update them on the transition.