LIV Golf is facing a major restructuring after informing most of its staff that their contracts will end during the first week of September. The announcement came just three days after the conclusion of the 2026 season in Indianapolis and at a particularly difficult moment for the league, which is transitioning from a financial model supported by the Public Investment Fund (PIF) of Saudi Arabia toward a new stage that will depend on private capital.
The situation reflects the pressure facing a competition that benefited from extraordinary investment capacity during its first years. The PIF reportedly invested more than $5 billion in LIV Golf over the past five years, but its decision to end financial support now forces the league to reduce operations while its CEO, Scott O’Neil, works to finalize a deal with a new lead investor. The urgency is clear: the league has already canceled its end-of-season team championship in Michigan, reduced the prize purse for the Indianapolis tournament by nearly half and still has outstanding commitments to some suppliers.
LIV Golf reduces its structure after the end of PIF support
The announced layoffs do not come as a complete surprise to LIV Golf employees. The organization had already warned some of its staff in the United States and the United Kingdom about the possibility of workforce reductions, anticipating the changes that would come with the end of PIF funding. The league has now confirmed that many employees will leave their positions during the first week of September, as the organization reduces its structure to navigate the transition between what it calls LIV 1.0 and a potential LIV 2.0.
The adjustment comes alongside other signs of financial strain. The team championship that was scheduled to take place in Michigan was canceled, while the Indianapolis tournament ended with a significantly smaller prize purse. In addition, suppliers and contractors are still waiting for payments and, in some cases, have taken legal action against the competition. O’Neil, who became CEO at the beginning of 2025, replacing Greg Norman, has said he intends to meet those obligations while keeping open the possibility of a new chapter for the league.
A new investor and the challenge of building LIV 2.0
O’Neil’s main objective is to secure a new investor capable of financing LIV Golf’s continued operation. According to reports, Ted Goldthorpe, head of investment firm BC Partners, has reached a preliminary agreement to become the league’s new lead investor. The deal, however, still faces a key condition: it requires the support of a majority of the current players. O’Neil has acknowledged that there is a very tight deadline to complete the transaction and that players have a date by which they must decide whether to join the new agreement, although the specific deadline and terms have not been publicly disclosed.
The project currently under consideration involves a smaller-scale LIV 2.0 with a 10-event schedule for 2027, split between five events in the United States and five in international markets. To launch this new model, O’Neil is reportedly seeking an investment of between $250 million and $350 million, with the expectation of reaching profitability within three years. As negotiations continue, the league must balance the need to reduce costs with the challenge of maintaining enough appeal for its players to support the project and allow the competition to continue under a new financial structure.
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