LIV Golf has announced the layoff of most of its workforce, a decision stemming from the expiration of its funding from Saudi Arabia’s Public Investment Fund (PIF). The organisation is now in the process of securing new financial backing to sustain its operations.
The move comes as LIV Golf seeks to transition into its next phase without the PIF’s financial support, which has been instrumental since its inception. The end of this backing has prompted a strategic pivot to secure the organisation’s future.
While the layoffs mark a turbulent period for LIV Golf, the organisation remains committed to finding new investors. It sees this as a necessary step to continue promoting its innovative approach to the sport.
The impact of these changes on upcoming events and the broader golf community remains to be seen, as LIV Golf navigates this challenging financial landscape.
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