sports
LIV Golf to lay off majority of staff amid ‘compressed timeline’ for new investors
Chief executive working on deal but needs players’ buy-in
TL;DR
- LIV Golf informed the majority of its workforce about layoffs in the first week of September.
- The layoffs come after Saudi Arabia's Public Investment Fund ended its financial support.
- CEO Scott O’Neil is working to finalize a deal with a new lead investor for LIV 2.0.
- The league faces an uncertain future, with cancelled events and potential bankruptcy.
- A deal with a new investor requires buy-in from a majority of the current player roster.
- The vision for LIV 2.0 includes 10 events for the 2027 season, with a goal of profitability in three years.