LIV Golf has informed a significant portion of its workforce of impending layoffs set to begin in early September. This operational scaling back follows the Saudi Public Investment Fund's (PIF) announcement that it will cease funding the league at the conclusion of the 2026 season. A LIV Golf spokesperson stated that these reductions are part of a transition toward a new phase, referred to as 'LIV 2.0'.
"This week, we informed many of our colleagues that their employment under LIV 1.0 will end in the first week of September," the spokesperson said. "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."
The league's 2026 campaign concluded on August 23 in Indianapolis. The Team Championship, originally scheduled for the end of August in Michigan, was canceled earlier this month.
Despite the current operational changes, LIV Golf leadership remains optimistic about the league's future, aiming for a relaunch in 2027. The organization expressed hope that many of the employees impacted by the layoffs might return for the next iteration. The specifics of 'LIV 2.0' indicate that players will hold a majority of equity in the league. The reported plan for the 2027 schedule includes 10 events, with five held in the United States and five internationally.
Earlier this year, on August 5, LIV Golf CEO Scott O'Neil announced that the league had secured a new investor and signed a term sheet. While details about this investor have not yet been publicly disclosed, O'Neil indicated that the investor would play a key role in anchoring the transaction and supporting the league's forward path.
"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," O'Neil stated at the time.