LIV Golf to cut staff as funding ends, eyes 2027 relaunch

LIV Golf told employees on Wednesday that it will reduce operations and terminate a large portion of its staff as the league seeks to restructure for a possible "LIV 2.0" launch. The move follows the Public Investment Fund of Saudi Arabia’s decision in April to cease funding after the 2026 season, ending more than $5 billion of support that had included roughly $100 million per month this year.

A league spokesperson said the company is grateful for employees’ work and will support those affected during the transition. While the exact number of layoffs was not disclosed, industry observers expect most of the workforce to be impacted. The league hopes many of those let go could be rehired if new financing is secured.

CEO Scott O'Neil said a term sheet has been signed with investor Ted Goldthorpe of BC Partners for a $250 million investment, though the deal has not yet closed. He described the next phase of the league as requiring "commercial discipline" after an initial period of heavy spending.

LIV Golf has already cancelled several events, including a New Orleans tournament, a team championship in Michigan, and cut the purse for the Indianapolis event in half. It also faces lawsuits over unpaid vendor invoices. O'Neil indicated the league has not ruled out bankruptcy and is focused on completing a transaction that would allow it to restart operations.

PGA Tour CEO Brian Rolapp said the tour has no current plan to reinstate its Returning Member Program, which could affect former LIV players seeking to rejoin. The DP World Tour has reportedly warned some LIV participants that fines could resume in 2027 if they attempt to play on both tours.