AdvertisementAdvertisementJun 28, 2025; Carrollton, Texas, USA; The LIV Golf logo near the first tee during the second round of the LIV Golf Dallas golf tournament at Maridoe Golf Club. Mandatory Credit: Raymond Carlin III-Imagn Images26 Aug 2026 11:57PM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST Aug 26 : LIV Golf said on Wednesday it has laid off the majority of its workforce while it continues to secure funding for its next iteration with financial backing from Saudi Arabia's Public Investment Fund set to expire.The PIF has poured more than $5 billion into LIV Golf since the breakaway circuit launched in 2022 but said in April it would cut funding at the close of the league's 2026 season, which ended at the weekend."As a result, we are scaling back operations as we transition to the next chapter of LIV Golf and work toward making LIV 2.0 a reality," a LIV spokesperson said in a statement."This week, we informed many of our colleagues that their employment under LIV 1.0 will end in the first week of September.Show MoreShow Less"We are grateful to our employees for their hard work and dedication in building LIV Golf, and we remain committed to supporting those affected through this transition."The workforce reduction was expected as LIV had notified its corporate employees in the United States and Britain of potential staffing reductions.LIV has a global staff of more than 300 people and remains optimistic about the return of many of those employees should LIV 2.0 move forward.The rebel circuit, which used massive signing bonuses to poach big-name players like Bryson DeChambeau and Jon Rahm, remains confident about its ability to finalise a potential transaction that will make its next iteration a reality.LIV has signed a term sheet with a lead investor that would fund the league in 2027 but it is a non-binding agreement and has not been finalised.LIV Golf CEO Scott O'Neil spent time during his press conference ahead of the season-ending event in Indianapolis to thank the league's employees for helping them get through the year."You showed up with work ethic and passion, and you did everything you possibly could to make the season happen," said O'Neil.Source: ReutersNewsletterRecommended ReadSubscribe to CNA's Recommended ReadA single handpicked story that we think you shouldn't miss. Just one a day.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST