LIV Golf scales back operations as Saudi funding ends
The breakaway tour is restructuring into a leaner entity as it pursues a new investment deal to survive the post-PIF era.
LIV Golf has announced a significant contraction of its operations, terminating a large portion of its workforce as the financial backing from Saudi Arabia’s Public Investment Fund (PIF) concludes after the 2026 season. Employees were informed on Wednesday that the reductions are necessary to facilitate the creation of a new entity, designated as “LIV 2.0,” which the league hopes will stabilise its future operations.
The PIF, which invested more than $5 billion in the league since its inception in June 2022, notified LIV in April that it would cease funding after the current season. This withdrawal has forced the league into a period of intense financial restructuring, with CEO Scott O’Neil describing the shift as a move from an era of “enormous ambition” to one requiring “commercial discipline.”
To manage cash flow, the league has implemented immediate cost-cutting measures, including the cancellation of events in New Orleans and Michigan, as well as the halving of prize money for the Indianapolis tournament. Additionally, two scheduled concerts were cancelled, and the league continues to face lawsuits from vendors claiming unpaid invoices for services rendered.
LIV is currently pursuing a $250 million investment from BC Partners, with whom it has signed a term sheet, although the deal has not yet been finalised. O’Neil has pitched investors and players on a scaled-back 2027 schedule comprising 10 events, split between five international and five stateside tournaments, alongside a proposal for player equity.
The uncertainty extends to the broader tour landscape, with PGA Tour CEO Brian Rolapp stating there is no current plan to reinstate the Returning Member Program, a potential pathway for players such as Bryson DeChambeau, Jon Rahm, and Cameron Smith. Meanwhile, the DP World Tour has reportedly warned some LIV players that it may resume fining them in 2027 if they attempt to compete on both tours.
Despite the layoffs, a LIV spokesperson indicated that many of the affected employees are expected to return if the “LIV 2.0” launch is successful. However, with the BC Partners investment still pending, O’Neil has not ruled out the possibility of filing for bankruptcy, stating that the league’s focus remains entirely on securing the necessary transactions to “land this plane.”
