{"id":596789,"date":"2026-08-26T18:06:23","date_gmt":"2026-08-26T18:06:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/596789\/"},"modified":"2026-08-26T18:06:23","modified_gmt":"2026-08-26T18:06:23","slug":"liv-golf-to-lay-off-majority-of-staff-amid-compressed-timeline-for-new-investors-liv-golf-series","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/596789\/","title":{"rendered":"LIV Golf to lay off majority of staff amid \u2018compressed timeline\u2019 for new investors | LIV Golf Series"},"content":{"rendered":"

LIV Golf<\/a> informed the majority of its workforce on Wednesday that they will be laid off in the first week of September.<\/p>\n

The news \u2060comes three days after the 2026 season concluded in Indianapolis and four months after Saudi Arabia\u2019s Public Investment Fund announced it was ending its financial support \u2060of the league<\/a> after \u2060spending more than $5bn over the past five years.<\/p>\n

Wednesday\u2019s announcement to staff was not unexpected after the tour notified workers in the US and the UK of \u2060potential layoffs.<\/p>\n

The LIV Golf chief executive, Scott O\u2019Neil, is working to finalise a deal with a new lead investor to fund a re-imagined LIV 2.0. However, the league faces an \u2060uncertain future, with the season-ending team championship in Michigan cancelled, the purse for the Indianapolis event slashed nearly in \u200bhalf, multiple vendors still awaiting payments and the \u200cpotential for bankruptcy looming.<\/p>\n

\u201cThe funding \u200ccommitment announced by PIF earlier this year will reach its conclusion. As a result, we are scaling back \u200coperations as we transition to the next chapter of LIV Golf and work toward making LIV 2.0 a reality,\u201d a LIV Golf spokesperson said in a statement. \u201cThis week, we informed many of our colleagues that their employment under LIV 1.0 will end in the first week of September.<\/p>\n

\u201cWe are grateful to our employees for their hard work and dedication in building LIV Golf, and we remain committed to \u200csupporting those affected through this transition.\u201c<\/p>\n

O\u2019Neil acknowledged last week that LIV Golf has \u201ca very compressed timeline\u201d to finalise a deal with a new lead investor, and such an agreement \u200bwill require buy-in from a majority of the current player roster.<\/p>\n

Ted Goldthorpe, the head of the investment firm BC Partners, is reported to be the new lead investor who has agreed to a term sheet with LIV. O\u2019Neil said there is a deadline to get players on board with the deal, without elaborating on when or what type \u2060of deadline that is.<\/p>\n

\u201cThe whole focus is on transaction, transaction, transaction,\u201d he said. \u201cWe\u2019re spending \u200ball our time thinking about \u200bhow we best land this plane \u200band have it landed so we can take off again. All our focus is \u200bin that direction.\u201d<\/p>\n

O\u2019Neil, who \u200creplaced Greg Norman as \u200bLIV\u2019s chief executive in \u200bearly 2025, vowed to \u201cdo right by\u201d vendors and contractors that have sued the league for missed payments.<\/p>\n

The vision for LIV 2.0 includes 10 events for the 2027 season, including five in the US and five in international markets. O\u2019Neil reportedly has been seeking an investment between $250m and $350m, with a goal of reaching profitability after three years.<\/p>\n","protected":false},"excerpt":{"rendered":"LIV Golf informed the majority of its workforce on Wednesday that they will be laid off in the…\n","protected":false},"author":2,"featured_media":596790,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[85,46,105],"class_list":["post-596789","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sports","tag-il","tag-israel","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/596789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=596789"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/596789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/596790"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=596789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=596789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=596789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}