08/26/26 03:25:00
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08/26 15:23 CDT LIV Golf begins laying off employees while downsizing to
restructure without Saudi funding
LIV Golf begins laying off employees while downsizing to restructure without
Saudi funding
By DOUG FERGUSON
AP Golf Writer
LIV Golf has informed employees their jobs will end next week as the league
begins life without Saudi funding, downsizing operations as it pursues an
agreement with a lead investor to reshape the league for next year.
It was not clear how many or what percentage of employees are being laid off.
LIV ended its fifth season last week outside Indianapolis, one week earlier
than expected.
The staff reduction was not a surprise. LIV Golf learned in April the Public
Investment Fund of Saudi Arabia would end financial backing after this season.
LIV in July filed a notice under the Worker Adjustment and Retraining
Notification Act that indicated layoffs were likely.
There also was hope that several employees could be hired back depending on LIV
securing its agreement with the lead investor and how the new league --- LIV
2.0 --- might look.
"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," LIV said in
a statement Wednesday.
"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."
CEO Scott O'Neil announced earlier this month that he had come to terms with a
lead investor, which multiple reports have indicated was BC Partners, and they
were hopeful of finalizing the deal in September.
LIV Golf had its shortest season since the year it launched in 2022, losing
events in New Orleans and the team championship in Michigan, with the team
title merged into the Indiana event.
Still to be determined are the futures of its biggest names, starting with Jon
Rahm and Bryson DeChambeau. Rahm still is under contract while DeChambeau
started the year negotiating for a renewal. That was before Saudi Arabia pulled
the plug on the funding when the Iran war led PIF to reshape its investment
priorities.
O'Neil has not ruled out filing for bankruptcy as part of the restructuring.
LIV already faces two lawsuits for not paying vendors for services.
Tyrrell Hatton, a four-time Ryder Cup player from England who joined LIV in
2024 with Rahm's team, entered the British Masters this week once he learned
the team championship in Michigan had been canceled.
He said Wednesday he has "multiple years" on his contract with LIV. Hatton
plans to play five of the next seven weeks on the European tour beginning with
the British Masters, which starts the qualifying period for the Ryder Cup for
Team Europe.
He said he expects LIV Golf to be playing in 2027.
"I know they have worked really hard to getting funding stuff in place. So I
know it's full steam ahead on that front," Hatton said. He also said he has
continued to play the European tour and "I don't see why that should change for
me in the future."
O'Neil has pitched a 10-tournament schedule for LIV, half of them overseas and
half in the United States. Key to that plan is making sure his players can
compete anywhere, though his mantra of "Complete, Not Compete" didn't sit well
with tours that lost players to big signing bonuses.
The PGA Tour has banned LIV players for at least one year dating to their last
LIV appearance. An exception was made for five-time major champion Brooks
Koepka, who ended his contract with LIV at the end of 2025 and returned to the
PGA Tour under stiff financial penalty.
O'Neil said last week in Indiana the first stage of LIV required big
investments.
"This next chapter requires something quite different --- commercial
discipline," he said. "I wasn't here in the early days, but at least
reputationally, it was a bit more free-spending than it will be in the future.
We've taken a real disciplined look at the cost side of the business."
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