LIV Golf has informed the majority of its workforce that they will be made redundant in the first week of September.
The move comes three days after the 2026 season drew to a close in Indianapolis and four months after Saudi Arabia’s Public Investment Fund announced it was ending its financial support, having spent more than $5bn on the circuit over five years.
Wednesday’s notice to employees was anticipated after workers across the United States and the United Kingdom were previously warned of potential job cuts.
LIV Golf CEO Scott O’Neil is attempting to finalise a deal with a new lead investor to finance a revised “LIV 2.0”. However, the league remains in a precarious position, with its season-ending team championship in Michigan cancelled, the prize purse for the Indianapolis event reduced by almost half, several vendors awaiting payment, and the prospect of bankruptcy looming.
“The funding commitment announced by PIF earlier this year will reach its conclusion. As a result, 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 Golf spokesman said in a statement. “This week, we informed many of our colleagues that their employment under LIV 1.0 will end in the first week of September.
“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.”
O’Neil admitted last week that the league has “a very compressed timeline” to complete a deal with a new lead investor, noting that any agreement would require approval from a majority of the existing player roster.
Ted Goldthorpe, head of the investment firm BC Partners, has reportedly agreed to a term sheet to act as LIV’s new primary backer. O’Neil stated there is a deadline for players to sign off on the proposal, though he did not detail when that cutoff is or what it entails.
“The whole focus is on transaction, transaction, transaction,” he said. “We’re spending all our time thinking about how we best land this plane and have it landed so we can take off again. All our focus is in that direction.”
O’Neil, who succeeded Greg Norman as LIV’s CEO in early 2025, pledged to “do right by” vendors and contractors taking legal action against the breakaway tour over outstanding bills.
The proposed vision for LIV 2.0 involves 10 events for the 2027 season, featuring five tournaments in the United States and five across international markets. O’Neil has reportedly been seeking an injection of between $250m and $350m, with a target of reaching profitability within three years.
