Shaken LIV Golf Notifies Mass Layoffs of Employees Starting Next Week

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A cold wind is blowing through LIV Golf.

LIV Golf, which has lost the support of the Saudi Arabia Public Investment Fund (PIF), has announced a mass layoff of employees starting next week. On August 27 (Korean time), AFP, citing a spokesperson for LIV Golf, reported, "As part of a major restructuring aimed at maintaining the tour next year, LIV Golf will begin terminating employees' contracts starting from the first week of September."

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

After recruiting top stars of the PGA Tour, such as Jon Rahm (Spain), Bryson DeChambeau, Dustin Johnson, and Phil Mickelson (all from the United States), the PIF launched LIV Golf in 2022 and invested 5 billion dollars (approximately 6.6 trillion won) over several years.

However, PIF's financial support ended with the Indiana tournament held last week. The final team championship was canceled. LIV Golf is currently searching for new investors and is reportedly asking some players to make equity investments.

While there is a possibility that some players who played with LIV Golf may return to the PGA Tour or other golf tours, the PGA Tour has made it clear that it does not plan to provide a pathway for their return. This marks the biggest crisis for LIV Golf since its launch.

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