LIV Golf Announces Mass Layoffs as It Pursues “LIV 2.0” Funding

In early September 2024, LIV Golf informed the majority of its U.S. and U.K. workforce that employment would end during the first week of September. The layoffs follow the Saudi Public Investment Fund’s (PIF) decision to cease its multi-year financial support, leaving the league in search of a new lead investor to fund a re-imagined “LIV 2.0” format.

LIV Golf increasingly uncertain future leads to layoffs being announced

LIV Golf launched in 2022 with backing from the PIF, which injected more than $5 billion over five years and, according to league-related reports, ultimately spent north of $6 billion. In April 2026 the PIF announced it would withdraw its funding at the end of the 2026 season, prompting the league to cancel its Michigan season-ending event and a June tournament in New Orleans. The league subsequently filed a Worker Adjustment and Retraining Notification (WARN) Act notice in July, a legal step required for mass layoffs.

New York Times

• Workforce: Approximately 300 employees; the majority will be let go.

LIV Golf increasingly uncertain future leads to layoffs being announced

• Funding Gap: LIV Golf is seeking a new investment of $250 million to $350 million to sustain operations beyond 2026.

LIV Golf Lays Off Majority of Staff as It Charts 2.0 Version

• Term Sheet: A term sheet has been signed with the credit arm of BC Partners, reportedly led by Ted Goldthorpe.

Forbes

• Revenue Growth: The league’s internal pitch deck claims revenue doubled from 2024 to 2025 and is on track to add another $100 million in 2026.

LIV Golf Lays Off Majority of Staff as It Charts 2.0 Version

• Legal Exposure: Two digital-media vendors, Mobii Systems Group Limited and Fresh Tape Media, have filed lawsuits seeking more than $1 million each for unpaid invoices.

New York Times

CEO Scott O’Neil has emphasized the urgency of securing a new investor, describing the timeline as “very compressed” and stating that the deal must obtain buy-in from a majority of the current player roster. He also pledged to “do right by” vendors and contractors that have filed lawsuits.

The Guardian

• PIF Expenditure: Some sources cite $5 billion spent by the PIF over five years, while others report “north of $6 billion” since the league’s inception.

New York Times

• “Ted Goldthorpe of BC Partners,” and an “unnamed backer.” No definitive public identification has been provided.

Forbes

• Future Schedule: The league plans a 10-event schedule for 2027, yet details on purse sizes, player equity stakes, and exact dates remain undisclosed.

New York Times

• “You have a visionary, charismatic, driven, well-connected leader, investor, businessman who answered questions with grace, shared his vision, and I think was able to convey a lot of the things that players and GMs and my colleagues wanted to hear,” — Scott O’Neil, LIV Golf CEO

LIV Golf Lays Off Majority of Staff as It Charts 2.0 Version

• Investor Deal: The league aims to finalize a new funding agreement by early fall to enable a 2027 season with smaller purses and a 10-event calendar.

Forbes

• Player Commitments: Securing the participation of marquee players such as Bryson DeChambeau and Jon Rahm is identified as critical for the league’s viability.

New York Times

The layoffs mark a pivotal moment for LIV Golf as it attempts to restructure its business model and secure the capital needed to continue competing in the professional golf landscape.

New York Post