LIV Golf to lay off most U.S. and U.K. staff as it prepares for new operational phase
LIV Golf announced that the majority of its U.S. and U.K. employees will be terminated in early September, citing a transition to a revised business model after reduced funding from its Saudi backer.
LIV Golf told most of its U.S. and U.K. staff on Wednesday that their employment will end in the first week of September. The announcement follows a Worker Adjustment and Retraining Notification (WARN) Act filing made last month, which signaled the possibility of layoffs. The tour has been adjusting its operations after the Public Investment Fund of Saudi Arabia reduced its financial support, ending a five-year, $5 billion commitment.
"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. "We are grateful to our employees for their hard work and dedication in building LIV Golf, and we remain committed to supporting those affected through this transition."
The organization said it has signed a term sheet with an unnamed investor, identified in reports as the credit arm of BC Partners, to fund the next phase. CEO Scott O'Neil previously indicated the goal of securing new financing by September and described a recent meeting with the prospective backer as positive.
LIV Golf continues to seek an investment of $250 million to $350 million to sustain operations beyond 2026. A pitch deck viewed by reporters outlines a plan for a 10-event annual schedule, with profitability projected within three years. The tour reported that revenue doubled between 2024 and 2025 and expects to add roughly $100 million this year. In April, the league retained investment bank Ducera Partners to manage the financing process.