LIV Golf informed staff that layoffs could be on the horizon on Wednesday.
The golf organization is facing a looming money crisis as its primary backer, the Saudi Arabian Public Investment Fund (PIF), announced earlier this year that it will pull its funding after the 2026 season.
PIF’s decision to walk away after sinking a reported $5 billion-$8 billion in the venture has left LIV scrambling to find a reported $300 million in fresh capital, leading to the announcement to staff about potential reductions.
A Worker Adjustment and Retraining Notification, a required step for large businesses ahead of potential mass layoffs, is being filed by LIV, according to Golf Digest.
Without denying the veracity of the reporting, LIV reached out to media outlets later in the day, saying it is implementing “no changes to LIV Golf’s current workforce, operations, or schedule at this time.”
Yet the golf league also admitted that communication with employees took place.
“As our process to identify strategic investors moves forward in a positive direction, and as part of responsible planning for a range of possible outcomes, we have notified employees in the United States and United Kingdom of potential future actions related to the League’s corporate workforce,” LIV said.
“This step is being taken in accordance with legal obligations in each jurisdiction. We deeply appreciate our employees’ continued dedication as we work toward a strong and sustainable future for the league.”
–Field Level Media
