LIV Golf crisis deepens with 90 per cent of staff set to lose jobs after Saudi funding ends

LIV Golf is preparing to lay off approximately 90% of its workforce as funding from Saudi Arabia’s Public Investment Fund concludes. Around 300 employees have been informed of their termination, with only a skeleton crew expected to remain to manage operations and the transition to a scaled-down ‘LIV 2.0’. Chief executive Scott O’Neil is seeking new investment to launch the new model in 2027, with bankruptcy a possibility if funding is not secured.

• LIV Golf is set to dismiss around 90% of its approximately 300 employees.
• The cuts are due to the end of funding from Saudi Arabia’s Public Investment Fund.
• A majority of staff in London and New York offices will leave next week after receiving 30-day termination notices.
• A skeleton workforce will remain to manage operations and the transition to ‘LIV 2.0’.
• CEO Scott O’Neil is seeking $250-300 million in new investment before a September deadline.
• Bankruptcy is a possibility if the necessary funding is not secured.
• There are reports of unpaid sums owed to vendors, contractors, and players like Jon Rahm.
• Departing employees may have opportunities to return if ‘LIV 2.0’ becomes a reality, though it’s expected to be on a smaller scale with reduced prize funds.
• Player Tyrrell Hatton expressed confidence in LIV’s survival and future funding efforts.
  https://uk.layer3.press/articles/381edf4c-34a8-4ad5-987d-92d8e7e8b6d7