LIV Golf Layoffs
LIV Golf lays off majority of workforce as Saudi funding winds down.
Anonymous
Key Points
1
LIV Golf filed WARN Act notices signaling potential mass layoffs, with a global staff of more than 300 employees told their jobs could end in the first week of September, and similar statutory requirements exist in the UK.
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LIV has a lead investor term sheet—likely the BC Partners’ credit arm—with a non-binding agreement aimed at funding LIV 2.0 and potentially operations in 2027, though the deal is not finalized.
3
Saudi Arabia’s Public Investment Fund has poured more than $5 billion into LIV since its launch and has signaled it will cut funding at the close of LIV's 2026 season, prompting fundraising for LIV 2.0.
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LIV leadership publicly described the incoming backer as a 'visionary, charismatic, driven, well-connected leader' who met with players to discuss LIV 2.0, signaling a concerted push to secure backing.
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LIV has been seeking roughly $250 million to $350 million in fresh funding to continue operations beyond 2026, according to pitch materials discussed in reporting about LIV 2.0.
LIV Golf is laying off most of its workforce as Saudi Arabia's funding dries up. The breakaway golf tour will cut roughly 300 employees globally in early September NY Post, marking a major retreat after five years of aggressive expansion. The Saudi Public Investment Fund has poured over $5 billion into LIV since launch but is cutting funding after the 2026 season Golfweek.
LIV is attempting a comeback as "LIV 2.0" with new financial backing. The tour has signed a term sheet with an unnamed investor believed to be BC Partners' credit arm Newsmax, aiming to secure $250 million to $350 million in fresh funding. The deal could be finalized by September, potentially allowing LIV to rehire some employees if the funding succeeds.
Mass Layoffs Hit Global LIV Staff
LIV Golf filed federal WARN notices in the United States and similar notices in the UK, alerting employees of potential job cuts NY Post. About 300 staff members globally were told their positions would end in the first week of September Golfweek. The layoffs follow the conclusion of LIV's fifth season and mark the organization's dramatic scaling back after years of high spending on player salaries and tournament operations.
Saudi Funding Dries Up After 2026
Saudi Arabia's Public Investment Fund has invested over $5 billion in LIV Golf since its 2022 launch Central Oregon Daily. The PIF has now signaled it will end funding at the close of the 2026 season, forcing LIV to scramble for alternative financial backing Golfweek. This cutoff prompted the organization to launch its search for new investors to sustain operations beyond 2026.
LIV 2.0 Seeks $250M to $350M in New Funding
LIV has a lead term sheet with a prospective backer—likely BC Partners' credit arm—to fund what executives call "LIV 2.0" Newsmax. The deal is non-binding but aims to secure $250 million to $350 million in fresh capital Yahoo Sports. LIV leaders have already met with players to discuss the new plan, describing the incoming investor as a "visionary, charismatic, driven, well-connected leader." If the funding closes by September, LIV may bring back some of the laid-off employees.
PGA Tour Sets Conditions for Player Defectors
As LIV's future remains uncertain, PGA Tour officials have indicated that players wanting to move to the PGA Tour must first resolve their existing LIV commitments NY Post. This signals a broader shift in golf's power dynamics and puts pressure on LIV players to decide their next moves. Some LIV events, including tournaments in Michigan and Indianapolis, have already been canceled, adding to uncertainty about the tour's near-term viability.
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