LIV Golf scales back operations with eye on creating LIV 2.0
ESPN • • sports
Key Points:
- LIV Golf is scaling back operations and terminating a significant number of positions as it attempts to restructure and launch "LIV 2.0," with most of its workforce expected to be affected.
- The league's primary funder, the Saudi Public Investment Fund, ceased funding after the 2026 season, having invested over $5 billion since 2022, prompting LIV to seek new investors.
- LIV canceled multiple events and reduced prize money recently, while also facing lawsuits over unpaid invoices, reflecting financial instability.
- Although a $250 million investment term sheet with BC Partners has been signed, it is not finalized, and LIV's future depends on securing funding and player commitments.
- LIV CEO Scott O'Neil emphasized a shift toward commercial discipline and has not ruled out bankruptcy, focusing on a transaction to stabilize and potentially relaunch the league.
