Shaken LIV Golf Notifies Mass Layoffs of Employees Starting Next Week

Financial Struggles After End of PIF Support
Announcement of Staff Layoffs as Part of Major Restructuring
Final Event Canceled, Early End to This Year's Tour

LIV Golf faces a severe internal shakeup.

LIV Golf, which is no longer supported by Saudi Arabia's Public Investment Fund (PIF), has announced a mass layoff of employees beginning next week. Citing an LIV Golf spokesperson, AFP reported on the 27th (Korean time) that "LIV Golf will begin terminating the employment of staff from the first week of September as part of a major restructuring to continue the tour next year."

LIV Golf has announced a mass layoff of employees. Photo by AFP Yonhap News

PIF founded LIV Golf in 2022 after signing numerous top stars from the PGA Tour, including Jon Rahm (Spain), Bryson DeChambeau, Dustin Johnson, and Phil Mickelson (all from the United States), spending a total of 5 billion dollars (approximately 6.6 trillion won) over several years.

However, the financial support from PIF ended with last week's tournament in Indianapolis. The final team event was canceled. LIV Golf is currently looking for new investors, and it is reported that some players have been asked to make equity investments.

There is a possibility that some players who competed with LIV Golf may return to the PGA Tour or other golf tours. However, the PGA Tour has stated unequivocally that it does not plan to offer any path for their return. This is the greatest crisis for LIV Golf since its launch.

This content was produced with the assistance of AI translation services.