<p><a href="https://foxnews.com/category/sports/golf/liv-golf" rel="noopener noreferrer" target="_blank">LIV Golf</a> has notified many of its employees that their employment will end starting the first week of September. This decision follows the Saudi Public Investment Fund (PIF) stating it would cease funding the circuit after the conclusion of the 2026 season.</p><p>LIV Golf's 2026 season concluded on August 23 in Indianapolis, a week earlier than scheduled due to the cancellation of the <a href="https://www.foxnews.com/outkick-sports/liv-golf-team-championship-set-indianapolis-michigan-tournament-canceled-amid-league-murky-future" rel="noopener noreferrer" target="_blank">Team Championship in Michigan</a>.</p><p>A spokesperson for LIV Golf stated, "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."</p><p>The spokesperson added, "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."</p><p>LIV leadership expressed optimism about the league's future, indicating plans for a new 'LIV 2.0' version in 2027, with hopes that many of the laid-off employees can return.</p><p>On August 5, LIV Golf CEO Scott O'Neil announced that a new investor had been secured and a term sheet had been signed, although specific details about the investor have not been disclosed. O'Neil stated, "LIV Golf has an agreement in place with a lead investor, signed by the investor and approved by the Board, to anchor the transaction and play a key role in supporting the path forward for the League’s next era, driven by and for the players."</p><p>Regarding LIV 2.0, it is known that players in the league will hold a majority of equity. The proposed 2027 LIV schedule is expected to feature 10 events, with five taking place in the United States and five internationally.</p>
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LIV Golf announces layoffs as it transitions to new investment structure
LIV Golf has announced layoffs for many employees starting in September as it prepares for a transition to a new investment structure following the end of funding from the Saudi Public Investment Fund. The league is optimistic about a new version, 'LIV 2.0', which is expected to launch in 2027 with a majority equity stake held by players and a schedule featuring 10 events globally.
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LIV Golf lays off many of its employees as it prepares for second iteration with new investors
LIV Golf announces layoffs as it transitions to new investment structure