sports
LIV Golf lays off majority of staff after Saudi backers cut funding
LIV Golf reportedly informed the majority of its staff that their jobs had been terminated on Wednesday amid the increasingly uncertainty shrouding the embattled tour's future.
TL;DR
- LIV Golf has terminated the employment of the majority of its staff.
- The layoffs are due to the Public Investment Fund of Saudi Arabia ceasing funding beyond the 2026 season.
- The tour is described as scaling back operations to transition to 'LIV Golf 2.0'.
- A lead investor has reportedly been secured to fund the league's operations in 2027.
- The identity of the investor has not been officially confirmed, but BC Partners is rumored to be involved.
- LIV Golf 2.0 plans include 10 team events per year and a schedule allowing players to compete on other circuits.
- The PGA Tour still has a one-year ban for players competing on LIV.