LIV Golf laying off most employees after new mystery deal
LIV Golf has been expected to declare bankruptcy and restructure before launching a reimagined league funded by an unnamed backer.
LIV Golf has been expected to declare bankruptcy and restructure before launching a reimagined league funded by an unnamed backer.
The Saudi Arabia’s Public Investment Fund bailed on its funding of LIV Golf—and now the league’s future is in doubt.
See Forbes’ 2026 list of the highest-paid golfers, featuring LIV Golf’s Jon Rahm and the PGA’s Scottie Scheffler among ten stars who made $536 million in the past year.
When asked about reports that LIV Golf’s loss of funding may result in a premature end to the 2026 season, O’Neil told CNBC that LIV Golf players, management and advisers are “locked in.”
Reports and speculation about the professional golf league’s shutdown have swirled for weeks as Saudi Arabia’s Public Investment Fund has distanced itself from LIV.
Reports and rumors circulated on Wednesday that the Saudi Public Investment Fund could soon pull funding from the PGA Tour competitor.
With a record-breaking $7 million rookie debut, a “Coachella-meets-Masters” hospitality pivot, and ambitious plans to acquire its own golf course, Ripper GC has officially moved past the “startup” phase.
LIV Golf’s spending spree has seemingly come to an end, but the PGA Tour is chipping in record purses, helping the sport’s 10 top earners score $612 million over the past year.
The breakaway golf league isn’t going anywhere, with the South Australian government striking a new deal with LIV Golf, securing its only Australian stop through 2031.
The league, which is bankrolled by the Saudi sovereign wealth fund and shares close ties with President-elect Donald Trump, will air across Fox properties including the flagship Fox channel, FS1 and Fox Business.