RESOLVING THE LEDGER
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Topline
LIV Golf, the controversial golf venture initially funded by the sovereign wealth fund of Saudi Arabia, told its 300-plus-employee work force Wednesday that most of them will be laid off next week as the league attempts to reinvent itself with a new financial backer.
A close up of a sign on the first tee on day one of the LIV Golf Team Championship Michigan at The Cardinal at Saint John's on August 22, 2025.
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Key Facts
The employees, who work in the U.S. and the United Kingdom, are being laid off as LIV works on "scaling back operations as we transition to the next chapter," a spokesperson said .
LIV, which lost its Saudi funding in April, has been working for months to finalize a deal with a new lead investor to fund a reimagined, smaller version of the league CEO Scott O’Neil is calling "LIV 2.0."
Sources close to LIV told Forbes at the end of July a deal was close, and earlier this month LIV said it had signed a term sheet with an unnamed investor ( reported by several outlets to be Ted Goldthorpe of BC Partners) to back the league going forward.
O’Neil said the new investor has met with LIV players, which include Jon Rahm and Bryson DeChambeau, and called him a “visionary, charismatic, driven, well-connected leader, investor, businessman.”
But LIV’s future remains uncertain and sources told Forbes in July bankruptcy was a likely option to restructure the league’s debt, which would allow it to cancel its existing monster contracts with some players and restructure its organization.
BIG NUMBER
$5 billion. That’s how much Saudi Arabia's Public Investment Fund put into LIV Golf from its founding in 2022 through April. In that same period, the league lost more than $1 billion.
WHAT WE DON’T KNOW
Which players will stay with LIV. Some, like DeChambeau and Brendan Steele , have been steadfastly loyal to the league while others have been openly skeptical—or already jumped ship. Brooks Koepka parted ways with LIV Golf ahead of the season and reports have suggested a major rift is growing between the league and Rahm.
Key background
LIV crashed into the golf world four years ago and instantly faced criticism from institutions and individual critics for accepting funding from Saudi Arabia, which was accused of using its extreme wealth to buy its way into a prestigious American sport and improve its international image. The PGA Tour instantly declared war on LIV and suspended players who participated in its events, launching a bitter fight for the future of professional golf. LIV, with its deep pockets , wooed major players like Rahm, Phil Mickelson and Koepka away from the PGA Tour with massive monetary promises, including reported signing bonuses of $300 million for Rahm, $200 million for Mickelson and $100 million for Koepka. Since then, LIV has built a genuine international audience—the league reports ticket sales are up 129% year-over-year—but the American TV audience hasn’t broken through and the league has burned through cash. A newly imagined LIV 2.0 will be a scaled-down version of the league, with five team majors across five continents, in addition to five U.S.-based team signature events per year. LIV 2.0 would also introduce eight to 10 "National Opens," or individual-play events aimed at allowing players to rack up Official World Golf Ranking points for entry to major tournaments. LIV 1.0 had fewer variations in event type, typically hosting roughly a dozen dual-format events (which included both individual and team competition) and a standalone LIV Golf Team Championship per year.
further reading
FORBES | By Mary Whitfill Roeloffs LIV Golf Is On The Cusp Of A New Funding Deal—And Bankruptcy Is On The Table FORBES | By Antonio Pequeño IV LIV Golf Loses Saudi Arabia Funding—Effectively Ending PGA Rival, Report Says FORBES | By Mary Whitfill Roeloffs Here’s How Much LIV Golf Paid Its Players—As The Saudis Yank Funding This article was originally published on Forbes.com
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