LIV Golf Announces Mass Layoffs to Launch LIV 2.0

LIV Golf is laying off the majority of its 300-plus employee workforce starting the first week of September. The terminations follow the cessation of funding from Saudi Arabia's Public Investment Fund, which provided $5 billion to the league between 2022 and April 2026.

CEO Scott O'Neil is transitioning the circuit toward a scaled-down version called LIV 2.0. This reimagined league plans to host 10 events in 2027, split evenly between the United States and global locations, and will grant players a majority of equity. O'Neil stated that the league has an agreement with a new, unnamed lead investor to anchor the transaction and support the next era of the league.

Despite the plan for a new chapter, the league's future remains uncertain. Some sources suggest that LIV Golf may need to file for bankruptcy to restructure its debt and cancel existing high-value player contracts.