{"id":826737,"date":"2026-08-26T19:08:17","date_gmt":"2026-08-26T19:08:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/826737\/"},"modified":"2026-08-26T19:08:17","modified_gmt":"2026-08-26T19:08:17","slug":"liv-golf-lays-off-majority-of-staff-charts-2-0-version-post-pif","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/826737\/","title":{"rendered":"LIV Golf Lays Off Majority of Staff, Charts 2.0 Version Post-PIF"},"content":{"rendered":"

\n\tLIV Golf<\/a> informed the majority of its employees in the U.S and U.K. Wednesday morning that their employment will end in the first week of September.<\/p>\n

\n\tThe move was not unexpected after the upstart tour filed a Worker Adjustment and Retraining Notification (WARN) Act notice last month\u2014a legal requirement to notify workers of potential layoffs. LIV has been in crisis mode since Saudi Arabia\u2019s Public Investment Fund (PIF<\/a>)\u00a0pulled back<\/a> its financial support after spending $5 billion over five years. <\/p>\n

\n\t\u201cWe are scaling back operations as we transition to the next chapter of LIV Golf and work toward making LIV 2.0 a reality,\u201d an LIV spokesperson said. \u201cWe 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.\u201d<\/p>\n

\n\tLIV leadership remains optimistic about what they are calling LIV 2.0. This month, LIV announced it signed a term sheet with an unnamed investor to lead its next phase\u2014published reports identified the potential investor as the credit arm of\u00a0BC Partners.<\/p>\n

\n\tLast week, LIV finished its 2026 season in Indianapolis, where it crowned its individual and team champions. LIV canceled its originally $40 million season-ending set for this week in Michigan. The tour previously called off a June tourney in New Orleans.<\/p>\n

\n\tDuring a press conference last week, LIV Golf CEO Scott O\u2019Neil addressed the league\u2019s next backer, who met with players. \u201cYou have a visionary, charismatic, driven, well-connected leader, investor, businessman who answered questions with grace, shared his vision, and I think was able to convey a lot of the things that players and GMs and my colleagues wanted to hear,\u201d O\u2019Neil said. \u201cIt was a fantastic meeting.\u201d<\/p>\n

\n\tO\u2019Neil has previously said his goal was to finalize a transaction with new funding in September.<\/p>\n

\n\tLIV has been in the market seeking an investment between $250 million and $350 million to continue operations beyond 2026, according to a pitch deck viewed by\u00a0Sportico. Under its new business plan, which aims to operate a 10-event annual schedule, the tour anticipates reaching profitability after three years.<\/p>\n

\n\tIt highlights that LIV Golf doubled its revenue from 2024 to 2025, and the tour says it is on pace to add another $100 million to that mark this year. In April, LIV Golf retained investment bank Ducera Partners to run the process.<\/p>\n","protected":false},"excerpt":{"rendered":"LIV Golf informed the majority of its employees in the U.S and U.K. Wednesday morning that their employment…\n","protected":false},"author":2,"featured_media":826738,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[427,10658,36970,99],"class_list":["post-826737","post","type-post","status-publish","format-standard","has-post-thumbnail","category-golf","tag-golf","tag-liv-golf","tag-pif","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/826737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=826737"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/826737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/826738"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=826737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=826737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=826737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}