LIV Golf begins mass layoffs after Saudi funding dries up

LIV Golf has launched a sweeping round of layoffs after Saudi Arabia's Public Investment Fund cut off its financial support.

The league notified employees this week that their contracts would end in the first week of September, according to foreign media reports Wednesday (local time). While the exact number of positions being eliminated was not disclosed, industry sources believe the cuts could affect up to 90 percent of the league's roughly 300 employees worldwide.

A LIV Golf spokesperson confirmed the move in a statement, saying the league is "significantly reducing its operational scale for the transition to LIV 2.0" following the formal expiration of PIF's funding commitment announced earlier this year. "We have notified many colleagues who worked under the LIV 1.0 structure that their employment will end in the first week of September," the spokesperson said.

The move had been widely anticipated. LIV Golf filed a WARN Act notice in July, alerting workers to the possibility of mass layoffs as required under the US Worker Adjustment and Retraining Notification Act. The league also cut costs by canceling the Michigan Team Championship, which had been scheduled as the final event of the 2026 season, and wrapping up the schedule early with a tournament in Indianapolis.

Since its launch in 2022, LIV Golf has poured more than $5 billion in Saudi capital into luring top players away from the PGA Tour over five years. The funding dried up after PIF decided to end its financial backing following the 2026 season, citing a reshuffling of Middle East priorities and investment focus.

The league is currently facing lawsuits from multiple vendors over unpaid bills, and the possibility of a Chapter 11 bankruptcy filing to restructure its debts has been raised.

LIV Golf CEO Scott O'Neil has outlined plans to raise between $250 million and $350 million by bringing in new investors, including British private equity fund BC Partners. The so-called LIV 2.0 plan centers on a slimmed-down annual schedule of 10 tournaments — five in the United States and five abroad — and would offer players equity stakes in the league rather than large guaranteed contracts.

Whether LIV 2.0 will come together remains uncertain. Securing new investment is closely tied to retaining marquee players, but key figures such as Jon Rahm of Spain and Bryson DeChambeau of the United States have yet to publicly commit to staying.